Survey Finds that Balanced Scorecards Drive Improved Employee Engagement with Corporate Objectives
2GC has released the findings of its 2013 Balanced Scorecard Usage Survey. It has found that:
- more organisations than ever before are successfully using Balanced Scorecard as a strategic management tool,
- two thirds of participants reported that their Balanced Scorecard implementation was ‘very’ or ‘extremely’ useful
- there is a steady shift towards the use of modern ‘3rd Generation’ Balanced Scorecard designs, these designs having powerful advantages particularly with regard to strategic management and organisational alignment.
The survey also investigated how use of the Balanced Scorecard affects organisations, and how its impact is influenced by the organisation’s management culture; for example, it found that while almost 90% of respondents said that their employee actions and behaviours were strongly influenced by the performance management tool, over a third of organisations say that there are no consequences for missing targets. The survey also notes that organisations are increasingly using Balanced Scorecard in a forward looking role to support management decision making, rather than as a backward looking tool to evaluate the performance of teams or individuals.
Quotes from respondents:
“Balanced Scorecard is making it easier to achieve objectives and short-term goals within our organisation.”
“(Balanced Scorecard) helps senior leadership collaborate and align on objectives, measures and initiatives.”
William Barney, Director at 2GC says, “We are extremely encouraged by the results, which show that the Balanced Scorecard continues to be a very relevant and successful management tool. Our own project experience backs up the overwhelmingly positive results that effective use and strong implementation of Balanced Scorecards lead to higher employee engagement and improved strategic execution.”
To read the full survey findings go to the survey section of this site.
To read the full press release please click here.