Balanced Scorecard Learning and Growth Examples

Balanced Scorecard Learning and Growth

In the learning and growth section of your balanced scorecard it’s basically about what your company must learn in order to improve. Now by looking at that definition it may seem pretty simple to create. But that’s further from truth.

To go about creating a balanced scorecard for learning and growth you have to look at your current employees set of skills. That will assist in seeing if their skillset are aligned with your organization’s goals both for the short term and long term. For example suppose you are planning to restructure your company to adapt to a new innovation in the market.

 

 

To capitalize on this opportunity and to prevent your company from getting left behind. You are going to analyze your company properly to see if you have the right infrastructure in place in terms of employees with the right skillset, training programs, creating new divisions for research and development etc.

Another important aspect to check for in your learning and growth perspective on your balanced scorecard is the spread information within your organization. We all know information is necessary for learning. So it’s vital that your organization is organized in a way that makes it easy to share information with others.

This last point is really important because if you are not for example communicating your strategy continuously and enforcing your company’s mission onto the team and the rest of the organization. Sometime down the line they will lose interest or lose focus on what’s really going on.

So with the learning and growth perspective you can create objectives. That will ensure that important information is being shared quickly among the different levels of your organization. Below you can see a list of learning and growth perspective examples that can be used in your organization. Or you can use them to get an idea of what it’s like to create one.

 

Balanced Scorecard Learning and Growth Examples Objectives and Measures:

 

Example 1:

Objective: Improve our training program

Measure: Restructure our training program in 6 months with better resources and technology

 

Example 2:

Objective: Train more employees in our company culture

Measure: Train 90% of our new employees in our company culture in 9 months

 

Example 3:

Objective: Increase strategy awareness in our organization

Measure: Create more strategy awareness meetings weekly for our employees

 

Example 4:

Objective: Increase strategy awareness in our organization

Measure: Create more strategy awareness meetings weekly for our employees

 

Example 5:

Objective: Retrain our customer service department

Measure: Retrain 40% of our customer service representatives to handle customers in new markets

 

Example 6:

Objective: Improve the flow of report information

Measure: Increase the number of reports being sent out weekly within our organization

 

These are just some of the learning and growth perspectives you can put on your balanced scorecard. You have a lot of others but it usually depends on your organization’s strategy and goals.

 

 

Keep in mind that when it comes to your company and learning you shouldn’t solely depend on the learning and growth perspective. Learning should be a continuous process all throughout a company’s business cycle.

So ensure that as a manager you are implementing the right strategies daily and tracking the right metrics to improve your overall organization learning and growth.