Individual Balanced Scorecard - 4561 Words

Why Your Employees Are Not Happy and Engaged; Personal Balanced Scorecard as Roadmap for Employees Happiness and Engagement Dr. Hubert Rampersad Lack of engagement is endemic, and is causing large and small organizations all over the world to incur excess costs, under perform on critical tasks, and create widespread customer dissatisfaction. The annual financial loss in the US due to disengagement of managers and employees is about $300B US (Gallup Poll, 2005). Improving organizational performance requires a highly engaged and happy workforce. Research on happiness in the workplace suggests that worker well-being plays a major role in organizational performance and that there is a strong relationship between worker†¦show more content†¦These are pointed to your personal well-being and success in society. Your personal ambition (personal mission, vision, and key roles) enables you to express your personal intentions, identity, ideals, values, and driving force, as well as gain more insight into yourself. The elements of the PBSC are divided among the following four perspectives: 1. Internal: your physical health and mental state. How can you control these in order to create value for yourself and others? How can you remain feeling good in your skin at work as well as in your spare time? 2. External: relations with your spouse, children, friends, employer, colleagues, and others. How do they see you? 3. Knowledge and learning: your skills and learning ability. How do you learn, and how can you remain successful in the future? 4. Financial: financial stability. To what degree are you able to fulfill your financial needs? These four fundamental perspectives form an integral part of your personal ambition, and together with your personal critical success factors form the bridge between personal ambition (long term) and personal objectives, performance measures, targets and improvement actions (short term). The PBSC can be defined as follows in formula form: PBSC = personal mission + vision + key roles + critical success factors + objectives + performance measures + targets + improvement actions (divided along the four perspectives:Show MoreRelated1.0 Introduction The Balanced Scorecard has emerged in recent years as a performance measurement1500 Words   |  6 Pages1.0 Introduction 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. 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The Balanced Scorecard (BSC) is a powerful diagnostic tool which provides managers with a vision and strategy of the organization to completely value