The balanced scorecard is not new. However, not enough companies are using it.
This session will go cover how to construct a balanced scorecard. We will cover how to survey the key deliverables for success, how to measure them, how to set standards, and how to assign values to each.
We will discuss using the balanced scorecard as a basis for a manager and executive bonus system.
We will use an actual example highlighting the restaurant/hospitality industry.
Why should you attend?
- Organizations today have many performance requirements. It is just not as simple as focusing delivering more sales or keeping the department staffed.
- Getting and maintaining top performance in multiple categories means that managers must have multiple focus.
- The goals of the organization including the rewards systems must be aligned with these "BALANCED" results. If a balanced approach is not followed an employee may focus one thing at the expense of another. For example, a total focus on increased profits could result in a slide of customer service and customer loyalty.
- The balanced score card measures a composite of all of the necessary elements of responsibility for a person, department, and organization.
- Used properly it will drive success in the organization.
Areas Covered in the Session:
- The Purpose of the Balanced Scorecard
- Background of the Balanced Scorecard
- Selecting the entity to use for the Scorecard
- Reviewing and Summarizing the measurable things
- Assigning weights and values
- Creating the dashboard
- An example used by the restaurant hospitality industry
- Using the Balanced Scorecard to bonus and
Who can Benefit:
- HR Professionals
- Senior Vice President
- Vice President
- Executive Director
- Managing Director
- Regional Vice President
- Area Supervisor