LOCK NESS UHYRET I HRM: GIVER HRM VALUE FOR MONEY? Cranet konference, 2012 Allan Hansen, CBS
Linket mellem HRM og værdiskabelse Lock Ness uhyret/linket mellem HRM og bundlinjen mange tror det er der men det er vanskeligt at finde endegyldigt bevis!
Agenda Moderne økonomiske perspektiver på spørgsmålet om value for money: Kan vi måle om vi skaber værdi og hvad er udfordringer omkring måling af værdiskabelse??? Kompleksiteten i spørgsmålet om værdiskabelse Forvrængningens DNA Hvordan værdien af en given præstation er vidt forskellig afhængig af den enkelte individuelle kontekst.
Hvad er værdiskabelse og hvordan kan det måles? Hvordan måler vi resultatet for en topledelsen i en børsnoteret virksomhed? Finansielt resultatmål (bundlinjen) Sammensatte måling/multi-dimensionelle Aktiekursen
Værdiskabelse er en kompleks balancegang Internt Resultat Langsigt Eksternt Kortsigt Proces
Kontinuummet for måling af værdiskabelse Målemetodikker: Finansielle præstationsmålinger Ikke-finansielle præstationsmålinger Individuelle ledelsesmæssige vurderinger Objektive målinger Subjektive målinger
Manipulation Risiko Forvrængning Behovet for subjektiv evaluering af præstationer Ikke-ekspliciterbare størrelser: Mange aspekter ved et job eller en opgave er ikke mulige at måle objektivt og dermed kontraktsliggøre eksplicit (f.eks. bidrag til team-spirit, den gode kollega etc.) Kompleksitet: Selv om målinger er mulige kan der være afhængighedsforhold mellem målingerne, der gør det vanskeligt at opgøre deres indbyrdes værdi og vægte dem i ft. hinanden (f.eks. betydningen af de målelige parametre i en fodboldkamp) Kontrollerbarhed: Ukontrollerbare forhold kan reducere medarbejderens præstationer (f.eks. markedsforhold, beslutninger fra overordnede etc.) ex post korrektioner. Manipulation: Subjektive evalueringer kan reducere manipulationsmuligheder. = > Den subjektive evaluering er en nødvendigt supplement til præstationsevaluering for at skabe en mere fair og fyldestgørende præstationsevaluering af afdelingen, teamet eller den enkelte medarbejder. 7
Kompetencer/ Mentale modeller Motiver Problemer med subjektive målinger Løftebrud Personlig bias (favoritisme) Konfliktskyhed Inkompetence Manglende fælleskoder Måleomkostninger 8
Hvorfor er værdiskabelse så vanskelig at måle? Om forvrængningens DNA Partiel værdiskabelse Multi-tasking Afhængighed Adaptation
Distortion: Partial value creation 10 Value creation Value creation Measure Measure Agent Agent Distorted measure
Kausalitet mellem præstationsmålingerne 11 Det finansielle perspektiv ROI Lagging Kundeloyalitet Kunde perspektivet Punktlig levering Leading Det interne perspektivet Kvalitet Gennemløbstid Leading Læringsog vækst perspektivet Medarbejderes evner til at skabe forbedringer Leading
Cost and benefit functions of measured nonfinancial performance (no externalities) 12 Benefit/cost b (x) c p (x) low high Measured nonfinancial performance (x)
Value function of measured nonfinancial performance (no externalities) 13 Benefit/cost v (x) = b (x) - c p (x) low x* high Measured nonfinancial performance (x)
Distortion: Multi-tasking 14 Value creation Value creation Measure 1 2 Measure 1 2 Agent Agent Distorted measure
Distortion: Externalities 15 Value creation Value creation Measure Measure Agent 1 Agent 2 Agent 1 Agent 2 No externalities Externalities
Distortion: Adaptation Value creation Value creation Measure 1 2 Measure 1 2 3 Agent Agent t 1 t 2
17 Externalities and performance measurement Hansen (2010)
The study (II) 18 A comparative case study of implementation of nonfinancial performance measures and target setting in two companies. The two companies company A and company B develop, produce and sell measurement technology, and are considered to be high-tech companies and market leaders. Both companies consider customisation the adjustment of the companies products to the customers specific needs to be a strategic objective. The two companies matched one another not only in terms of market strategy but also in terms of a wider range of aspects, like environment, technology, culture and size.
The externality problem 19 An externality is the effect that the performance of one employee s/group s/division s organisational task has on the performance of another employee s/group s/division s task. From an internal control point of view, the challenge is to internalise the externality so that the effect is taken into account by decision makers
The study 20 Nonfinancial performance measure External activity Probe accuracy Number of components on PCBs? Customization (by sales engineers) Number of finished product codes
Results (I) 21 Nonfinancial performance measure Manufacturing quality (probe accuracy) Number of components on PCB Company Externalities Resolution Company A Company B Company A Company B Positive externalities: High probe accuracy (produced in specialised manufacturing processes) reduces sales engineers resource consumption when adjusting the probes in fluids because the adjustment of probes is more complicated in fluids than gases. Probe accuracy below 0.001 eases customisation processes by the sales engineers significantly. Measure included and standard setting used for internalising positive externalities. No externalities: Customisation is unaffected by probe accuracy in any Measure included - no significant way (a higher level of accuracy will not influence the processes externalities. of sales engineers). Nevertheless, probe accuracy above 0.01 is unacceptable from the customers point of view. Negative externalities: A reduction of the number of components reduces scale span due to the high number of components needed for the special transmission technology necessary in order to deal with strong turbulence. A reduced scale span will reduce the sales engineers possibilities for customising the product. Negative externalities: Reducing the number of components does not affect scale span because the transmission technology applied in company B is not sensitive to the number of components applied. However, there is a limit for how low it is possible to go in terms of number of PCB (and thereby also in terms of components) due to demand for technical features by the sales engineers in their customisation. Measure excluded the negative externalities were too high. Measure included and standard setting used to internalise negative externalities.
Results (II) 22 Nonfinancial performance measure Company Externalities Resolution Number of finished product codes Company A No externalities: The number of finished product codes only affects sales engineers customisation processes if they are reduced too much. Performance along this dimension will improve productivity in the manufacturing system without significantly reducing customisation until critical values are reached. Measure included and standard setting used to internalise negative externalities. Company B Negative externalities: Reducing the number of finished product codes will hamper customisation, because there is no room for improvement. The number of product codes is already considered to be too low and problems with too few codes have already been experienced. Measure excluded the negative externalities were too high.
Konklusion Arbejdet med at forstå linket mellem værdiskabelse og HRM skal forstås bredere. Ikke blot et spørgsmål om at linke HRM til bundlinjen, al økonomisk videnskab peger på at det er for simpelt... Moderne økonomisk teori peger på at det ikke alene objektive men også subjektive målinger er væsentlige i håndteringen af og styringen af værdiskabelse. Gode subjektive målinger skaber bedre forudsætninger for at forstå og styre værdiskabelse. At sætte noget på formel som ikke kan sættes på formel leder ikke til noget godt. Det handler om at blive bedre til at lave økonomiske ræsonnement og komme med propositioner omkring værdiskabelse (kvantitative såvel som kvalitative)