From the course: Human Resources: Leadership and Strategic Impact
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Efficiency, effectiveness, and impact
From the course: Human Resources: Leadership and Strategic Impact
Efficiency, effectiveness, and impact
- The HC BRidge framework helps you to find a comprehensive HR strategy by considering how to balance three value propositions. When your strategy overemphasizes one of these three elements, you risk producing low value or waste. The first value proposition is efficiency. In other words, being frugal with resources, such as money and time. The second value proposition is effectiveness, the idea of implementing programs that achieve desired effects. And the third value proposition is impact, targeting your programs and investments where they make the largest improvement in strategic success. You can see how the three value propositions of the HC BRidge framework apply to HR strategies by comparing marketing and HR. Imagine that your marketing department achieved very high efficiency. They have the lowest cost-per-television advertisement in the industry, saving your company thousands of dollars. That's like your HR department saving thousands of dollars by being the lowest…
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