From the course: Balanced Scorecard and Key Performance Indicators
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Employee growth and satisfaction
From the course: Balanced Scorecard and Key Performance Indicators
Employee growth and satisfaction
- In my opinion, the learning and growth measures are a very valuable contribution of the balanced scorecard approach. The learning and growth measures focus on the company's employees. Traditional financial measures can cause managers to view employees as a cost. The balanced scorecard focuses a manager on viewing employees as a key resource. The large CPA firms these days are constantly talking about work-life balance. Now, is it because these firms are charitable organizations that care only about their employees' happiness? No, instead, the CPA firms realized that their good employees are a resource, not a cost, and that they can increase their financial profits by retaining their good employees. As with the customer measures, it is useful to think of the employee measures as being both leading measures and outcome measures. An important leading measure is the amount spent on employee training. As with spending on…
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