It goes without saying that unemployment is one of the greatest roadblocks in any economy's growth path. Removal requires arranging substantial amount of funds for offering either the 'immediate relief' or 'providing job to earn their living on own'. Social Services Organizations shoulder this responsibility by running schemes for various target groups of society that require employment. Various challenges standing in the way of such organizations make it necessary to structure a scorecard to draw all aspects 'that matter' together. The perspectives that can serve the purpose relate to- Strategy, Finances, Internal Operations and Success Evaluation.The indicators for Strategy Perspective are- Policy Alignment, Number of people who were provided employment: Total registered people, Target Groups, Percentage increase in full-time and part-time employed people. Internal Operations can be had with KPIs like- Frequency of Surveys, Employment Time lag, Mismatch between 'expectations' and 'reality' and number of factors considered for deciding the pay scale. Financial Perspective can be analyzed with indicators such as- Training Expenses Incurred, Number of funding sources, fund utilization ratio and Research Share.Finally, the success assessment is possible with 'Cost of Living meeting' ratio, percentage increase in funds and number of registrations.
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
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bonus.
Unemployment is an essential trait for recognizing a given country. The lower is the rate, more are the chances of it progressing. This is because the value of this parameter signifies the degree to which available resources of the land are being put to prudent use. There are basically three types of unemployment recognized in an economy- Structural unemployment, classical unemployment and cyclical unemployment.
Consequently, the industrial sectors become capable of tracing the 'growth track' by keeping the 'unemployment degree' in check.
Therefore, one gets understandably enough that unemployment rate has to be kept at its lowest by bringing new policies and opportunities for providing employment to people.
This is one of the tasks handed over to social service organizations that are engaged in controlling the unemployment levels.
To move in the pursuit of attaining this objective in a logical and scientific manner, BSC (Balanced Scorecard) can be trusted. This tool has 'KPIs (Key Performance Indicators) as its bricks using which one can calculate the progress and movements being made in this desired direction.
By preparing an unemployment scorecard to gauge the steps, one can make better decisions and analysis of situations. This is due to the 'unbiased and impartial' approach promoted by 'numbers and values' of this tool.
This is the actual scorecard with Unemployment Indicators and performance indicators. The performance indicators include: financial perspective, training expenses incurred: total expenses, research share, funds utilization ratio, number of funding sources, internal operations perspective, frequency of surveys, mismatch between expectations and reality, employment time lag, number of factors considered for setting the workers pay, strategy perspective, policy alignment, number of people who were provided employment: total registration, number of target groups, percentage increase in full-time employed strength, percentage rise in part-time jobs provided, success evaluation gauging, cost of living meeting ratio, percentage increase in the number of registrations, percentage rise in funds availability, average skill enhancement level.
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