EVALUATING THE STRATEGIC CONTRIBUTION OF HR

Executive Summary

1.     This section will show what the HR function must do if it is to become a full strategic partner within an organization.

2.     It will provide an explanation of the key components of the balanced scorecard and the implications of the scorecard – in particular, its learning and growth perspective – on the role of HR professionals.

3.     The key components of other performance measurement frameworks are outlined, notably the European Foundation for Quality Management (EFQM) Excellence Model and the Malcolm Baldrige Quality Model.

4.     Close attention is paid to the burgeoning importance of the management of 'human capital' and what this means to the role of HR professionals.

5.     Linked to the above, a detailed explanation of terms such as 'knowledge management' and 'intellectual capital' are provided, and their implications considered.

6.     Research reported here shows strong correlative evidence that excellence in certain aspects of human resource management does indeed lead to significant shareholder value enhancement.

7.     A case report from the Sweden-headquartered financial services institution Skandia shows how a numeric value can be placed on an organization's human capital development.

8.     A case report on Canada-headquartered Clarica shows how this organization is proactively building aligned individual and organizational capabilities. It explains why the companyhas – rather controversially – stopped using the term 'human resources'.

9.     Case studies on the UK-headquartered steel manufacturer Corus Colors and the Canadian utility BC Hydro and Power Authority demonstrate HR best practice in the use of strategy implementation frameworks.

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