Measurements to Aid in Choosing Employees for a Job

1006 Words3 Pages
bulb-icon

Recommended: balanced scorecard summary

The measurement of performance, measurement of predictors, the G (general intellect or ability), and personality should be taken into consideration when choosing an individual for a specific job or team. Using just one of these instruments has the potential to break the connectivity and workability of the organization or team.
Measurement of Performance
The measurement of performance has been an ongoing theme stretching over decades. Since the 1900s, individuals have tried to measure different aspects of performance. In the early 1900s, accounting standards were the first step towards performance standards (Yadav, Sagar, & Sagar, 2013). In the 1920s, the return on investment (ROI) was developed by Du Pont calculations, which are still used in order to tell the financial health of the organization (Yadav, Sagar, & Sagar, 2013). Within years came the cost accounting initiatives, the Tableau De Bord (marriage between financial and non-financial measures), social accounting, strategic management accounting, Quality award and business excellence model, activity based costing, BSC, and the triple bottom line (Yadav, Sagar, & Sagar, 2013).
In 1992, Robert Kaplan and David Norton published an article on balanced scorecards, which allowed organizations to format and interpret their performance and gain insights on the performance of their organizations (Fibuch & Arif, 2013). This scorecard was the first time the alignment of many metrics such as human resources, process data, and customer data could be measured along with the financial metrics (Fibuch & Arif, 2013).
Kaplan and Norton suggested that most organizations should consider four different aspects of the organization, including the customer, learning and growth, internal busi...

... middle of paper ...

... Journal of Human Resource Management, 23(6), 1074-1094. Retrieved from http://library.gcu.edu:2048/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=71347082&site=eds-live&scope=site
Korunka, C., Kessler, A., Frank, H., & Lueger, M. (2010). Personal characteristics, resources, and environment as predictors of business survival. Journal of Occupational and Organizational Psychology, 83, 1025-1051. Retrieved from http://onlinelibrary.wiley.com/doi/10.1348/096317909X485135/abstract?deniedAccessCustomisedMessage=&userIsAuthenticated=false
Murphy, K. (1996). Individual Differences and Behavior in Organizations. San Francisco: Jossey Bass.
Yadav, N., Sagar, S., & Sagar, M. (2013). Performance measurement and management frameworksResearch trends of the last two decades. Business Process Management Journal, 19(6), 947-971. doi:10.1108/BPMJ-01-2013-0003

Show More
Related

  • NHS Balanced scorecard

    890 Words  | 2 Pages

    This part of the assignment will discuss balanced scorecard that has been implemented by UK National Health Service (NHS), how it has influenced and impacted upon the performance measures of this organisation.

    Read More

  • Balance Scorecard in Health Care Organizations

    1119 Words  | 3 Pages

    The "balanced scorecard is a model and performance tool used to monitor financial and quality performance" (Pane, 2011) and "translates mission and strategy into outcomes and

    Read More

  • Harley-Davidson Performance Analysis

    1508 Words  | 4 Pages

    There are many ways to analyze the performance of a company, some more popular than others. According to the Barney text the accounting method is the most popular way of measuring a firm's performance (Barney, 2002). Some of the reasons for the popularity could include the fact that accounting measures of performance are publicly available on many firms and they communicate a great deal of information about a firm's operations. Other methods of performance analysis include firm survival and the multiple stakeholder approach.

    Read More

  • A Quantitative and Qualitative Look at Southwest Airlines and British Airways

    4260 Words  | 9 Pages

    In today's competitive marketplace, all firms are seeking ways to improve their overall performance. One such method of improvement, recently adopted by many firms, is benchmarking. Benchmarking is a technique used to evaluate internal business processes. "In this analysis, managers determine the firm's critical processes and outputs, baseline those processes, then compare the performance of each process against a standard outside the industry" (Bounds, Yorks, Adams, & Ranney 1994). To effectively improve a business process to world-class quality, managers must find a firm that is recognized as a global leader, not just the industry standard. Successful benchmarking requires tailor-made solutions, not just blind copying of another organization. Measurement and interpretation of data collected is the key to creating business process solutions.

    Read More

  • The Mayo Clinic: A Performance Management Assessment

    2102 Words  | 5 Pages

    Tapinos, E., Dyson, R.G. & Meadows, M. (2005). The impact of performance measurement in strategic planning. International Journal of Productivity and Performance Management, 54(5/6), 370-384.

    Read More

  • Tyson Food Balanced Scorecard

    1580 Words  | 4 Pages

    Balanced Scorecard The balanced scorecard (BSC) is a strategy used in organizations to determine their performance measures (Meredith & Shafer, 2016). The BSC provides knowledge into four perspectives of an organization; financial performance, customer performance, internal business process performance, and organizational learning and growth (Meredith & Shafer, 2016). There are many elements of the BSC, including the strategy map which displays the cause and effect relationships between the four perspectives to achieve a specific organizational goal (Meredith & Shafer, 2016).

    Read More

  • Analysis Of The Malcomb Baldrige National Quality Award

    1030 Words  | 3 Pages

    In the mid 1980s, and into the 1990s, business leaders realized that a renewed focus on quality was required to continue to compete in an expanding global market. (NIST, 2010) Consequently, several strategic frameworks were developed for managing, and measuring organizational performance. Among them were the Malcomb Baldrige National Quality Award, which was created by and act of congress and signed into law by the President in 1987, and The Balanced Scorecard, which is a performance management tool that was born out of research conducted in the late 1980s and early 1990s by Robert S. Kaplan, and David P. Norton published in 1996 (Kaplan, 1996). Initially the renewed emphasis on quality management systems was a reaction to the LEAN approach

    Read More

  • Veolia Water Case Study: Balanced Scorecard

    1095 Words  | 3 Pages

    The balanced scorecard approach takes planning. For companies this isn 't a quick fix. Companies need to take a deep dive and configure your objectives that are clear. Another disadvantage is the balanced scorecard won 't cover everything. In order to successfully implement this approach it needs to be apart of a bigger strategy for your company. Lastly, in order for your metrics to provide valuable insight you need to make the information you are looking to track applicable to your needs. (Bowen, 2011)

    Read More

  • Financial vs. Managerial Accounting

    1091 Words  | 3 Pages

    Managerial Accounting addresses those aspects that relates to an individual organization return on investments (ROI). (Albrecht, Stice, Stice, & Skousen, 2002) A company’s profitability depends on periodic attention to its assets turnover and profit margin. This process is designed to support the decision making that adds value to an organization. Organizations are sometimes broad and divisional. Planning, controlling, and evaluating is key in the effective decision making process. (Albrecht, Stice, Stice, & Skousen, 2002) An organization must make decisions about its future products, services, operations, and investments. It must begin a tracking process for cost, quality, and performance. Finally it must analyze the results, and variances, providing feedback to assess areas of personnel, divisions, products, and processes. (Albrecht, Stice, Stice, & Skousen, 2002)

    Read More

  • Balance Scorecard Assignment

    1488 Words  | 3 Pages

    A Balanced Scorecard can be defined as a “performance management tool which began as a concept for measuring whether the smaller-scale operational activities of a company are aligned with its larger-scale objectives in terms of vision and strategy” (Wikipedia 2009, ¶ 1). Scents & Things will need to develop a balanced scorecard that will assist in meeting and help define the company’s values, mission, vision, and SWOT analysis. The balance scorecard is made up of four perspectives; financial, customer, learning and growing, and internal process. This paper will define each of the four perspectives objectives, performance measures, targets, and initiatives. The paper will also show how the perspectives relate to Scents & Things vision, mission, values, and SWOTT analysis.

    Read More

  • Strengths And Weaknesses Of Balanced Scorecard

    1457 Words  | 3 Pages

    The Balanced Scorecard has emerged in recent years as a performance measurement system in various organizations. This paper will discuss the origin and concept of the balanced scorecard and how it was first implemented. We will then review the criticisms on the balanced scorecard methodology as well as analyse the strengths and weaknesses of this performance measurement tool.

    Read More

  • Constructing Efficient Teams: A Strategic Approach

    1715 Words  | 4 Pages

    this is usually the difficult part of performance management .the dimensions shows a level of discussion to all.as people are not comfortable in discussing the given feedback on behaviours as they are more subjective in nature and are less quantifiable so they prefer to avoid this area.to evaluate it requires collecting performance data and the accuracy depends on the data collected.

    Read More

  • The Importance of Metrics

    1524 Words  | 4 Pages

    Establishing metrics is crucial to any organization, especially in technology related company projects. Metrics permit organizations to measure its performance against industry sectors to determine how well the company is doing. Furthermore, metrics allow organizations to evaluate and improve the effectiveness and efficiency of its processes. Metrics are designated in different categories. The categories identified in this document include output, in-process, and people. (Duris 2003) The organization must first determine exactly what the company is trying to accomplish or determine. Metrics are then identified based on what is relative to the subject matter. Finally, metrics are verified when tracking progress against previous records or a company given standards or goals.

    Read More

  • Performance Management Essay

    1020 Words  | 3 Pages

    Performance management is a useful and powerful tool that can be used by managers to identify what areas of their organisation they need to improve to increase the organisation’s overall performance. The idea of a balanced scorecard enforces a sensible distribution of resources and effort across all aspect of performance an organisation is, or should be, concerned with.

    Read More

  • Network Solutions Case Study

    726 Words  | 2 Pages

    When implementing a new performance management system in an organization there are both advantages and disadvantages that need to be taken into consideration by the design team. However, one of the best ways to know if a performance management system is effective is by implementing the system within the organization and then continuously monitor and reevaluate if the system is still relevant to the organizational

    Read More

More about Measurements to Aid in Choosing Employees for a Job

Open Document