1 / 13

Week 7 – Strategic Value Measures/ Management Tools

Human Resource Strategy. Week 7 – Strategic Value Measures/ Management Tools. Measures. What are some examples of measures that can demonstrate the strategy is successfully being implemented?. Measurements and the success of HR strategy. Measuring individual performance.

lacota-woods
Download Presentation

Week 7 – Strategic Value Measures/ Management Tools

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Human Resource Strategy Week 7 – Strategic Value Measures/ Management Tools

  2. Measures • What are some examples of measures that can demonstrate the strategy is successfully being implemented?

  3. Measurements and the success of HR strategy Measuring individual performance. Measuring organizational performance through the use of two performance measures (the balanced scorecard and performance audits): Return on investment Cost-benefit analysis Break-even analysis Financial statement analysis

  4. Balanced Scorecard Four key perspectives • Financial measures • Customer needs and satisfaction • Internal effectiveness and efficiency • Learning and growth

  5. HR Scorecard • Financial Value • Internal Customer • Human Capital Interventions • Human Capital Management

  6. What do you think? • How might the HR Scorecard help your organization?

  7. HR scorecard and the organization • It reinforces the distinction between HR doables and HR deliverables. • It enables you to control costs and create value. • It measures leading indicators.

  8. What is Lean • Methodology and tools to remove all non-value-added time and activity (waste) from processes. • Lean’s roots trace back to Frank Gilbreth (time and motion studies to streamline and standardize) and Henry Ford (assembly line). • Lean greatly matured by Toyota. • Described by James Womack

  9. Value to Customer An unrelenting focus on providing customer value. Value-added 1.The customer must be willing to pay for the activity. 2. The activity must transform the product or service in some way. 3. The activity must be done correctly the first time.

  10. Sources of waste are everywhere. Using more material than necessary Using more space than necessary Spending more money than necessary Using more equipment and tools than necessary Involving more people than necessary Having incorrect or incomplete information or instructions

  11. Lean’s Eight Wastes • Waste of Waiting • Waste of Overproduction – Producing items earlier or in greater quantities than needed • Waste of Defects/Rework • Waste of Unnecessary Movement • Waste of Transportation • Waste of Overprocessing or incorrect processing • Waste of Excess Inventory • Waste of Intellect – unused employee creativity

  12. Six Sigma Background • Six Sigma was developed at Motorola in the 1980’s as a method to improve process quality in manufacturing processes. Six Sigma was then applied to business processes. In 1988 Motorola wins the Baldrige Award. • Other companies that adopted – GE, IBM, Kodak GE savings in 1997 attributed to Six Sigma - $320 million; In 1998 - $750 million. • In 1998 Commonwealth Health initiated Six Sigma.

  13. The Six Sigma Philosophy • We can’t do what we don’t know • Know what is important to the customer (CTQ) • We won’t know until we measure • If we can’t control it, we are at the mercy of chance. • Reduce variation

More Related