Traditionally, a talent management scorecard would reflect
the inputs and include items such as budget, spend per employee, and number of
participants. While this information is
important to include in the overall scorecard, it is not the only data to
include. The scorecard should also
include learning, application, impact, and ROI.
The first step is to determine how many and which programs
will be evaluated at the various levels.
Ideally, as many programs as possible will be measured at the ROI
level. Then, the data from each of the
programs must be integrated to present an overall picture at the
macro-level. The end result will be a
scorecard that represents seven major categories to include: indicators, each
of the five levels of evaluation, and intangible benefits. Below is a brief explanation of each
category:
·
Indicators
and Inputs – Indicators and inputs are the traditional input data. These data are indicators of organizational
commitment and investment. It is
important to clarify the most important indicators as it is easy for this
section of the scorecard to contain too much irrelevant data. The data that are included must be important
to the executive team and are likely to include such items as the number of
employees participating in the programs, the number of hours of learning activity
per employee and the investment in learning broken out into different
demographics.
·
Five
Levels of Evaluation – These sections will include the data collected at
each of the five levels of evaluation, up to and including Return on
Investment. The five levels of
evaluation are: Reaction, Satisfaction and Planned Action; Learning;
Application and Implementation; Business Impact and Return on Investment.
·
Intangible
Measures - The final category to report is intangible measures. These measures can be included in the
business impact category as a sub-category or mentioned in a separate
section. Intangible measures are defined
as those that have not been converted to monetary value, but are important to
the program. Examples include: customer
satisfaction, employee engagement, and job satisfaction. It is important that each of these measures
could be monetized, but it is not always practical or desired to monetize
them. Sometimes intangible measures are
reported voluntarily by participants, while at other times they are tracked
throughout the organization.