Helloz, There are 2 things I wanted develop my understanding- 1. In startup's medical insurance is provided from day 1 an employee joins or after the completion of probation? 2. Any understanding towards balanced scorecards? Please share ur insight about the same.

@Sana 1. In startup’s medical insurance is provided from day 1 an employee joins or after the completion of probation? - From Day 1 2. Any understanding towards balanced scorecards? - Useful links 1, 2, 3

@Wristy can you share the name of your organisation

@Sana 1. Day 1. 2. Do you have any specific questions about balanced scorecards? Typically, there are 4 'perspectives' - financial, customer, process, and people/capability that are covered. The framework allows for a more holistic goal-setting, which does not place focus only on financial objectives. For example, a Head of Sales could have the following goals: • Increase sales revenue by 8% over last year • Maintain customer satisfaction rating of 80% or above • Ensure 100% accuracy and timely updates in Salesforce • Employee satisfaction score of 90% or above Of course, this is simplistic but the idea is to get the person to not only chase money but overall contribution to the organization. I hope this helps. If you need more, let me know.

Ok Thanku Which organisation are you working in currently, also if you can share some past organisation names as well it will be great

@Sana I'm a consultant having helped over 50 companies worldwide in the last 3 years.

@Sana I am an HR Advisor to global organisations, particularly to startups.

Oh great! Thanku so much 😇

The Balanced Scorecard (BSC) is a strategic performance management tool that helps organizations translate their vision and strategy into action. It was developed by Robert Kaplan and David Norton in the early 1990s. The BSC is a framework that balances financial and non-financial performance metrics to give a comprehensive view of an organization's performance. It includes four perspectives: 1. Financial Perspective: This perspective focuses on the financial performance of the organization, such as revenue growth, profitability, and return on investment. 2. Customer Perspective: This perspective looks at how the organization is meeting customer needs and expectations, such as customer satisfaction and loyalty. 3. Internal Business Perspective: This perspective examines the internal processes and systems that drive the organization's operations, such as product quality and delivery time. 4. Learning and Growth Perspective: This perspective focuses on the organization's ability to innovate and improve, such as employee training and development and technological advancements. The BSC methodology involves identifying strategic objectives, defining key performance indicators (KPIs) for each perspective, setting targets for each KPI, and implementing action

One more thing to add: Balanced Scorecard implementation may be discussed through an Objectives-Measures-Targets-Initiatives (OMTI) exercise to have a multi-pronged strategy.

As per the insurance act you have to provide employees from day 1 the insurance it came into effect from Lockdown. You can do some research on search engine. Even though they are on probation they are still the employee of the company. Also, instead of BSC, you can go with MBO depending on the size of the company.