BALANCED SCORECARD: THE KEY TO EMPLOYEE WELL-BEING - THE IMPACT OF BALANCED SCORECARD ON EMPLOYEE WELL-BEING: THE CASE OF STATE OF MICHIGAN-USA

CEREN PERI CIGNITAS

Abstract:

In today's competitive environment, organizations recognize that employee happiness and performance management tools are a prominent factor in achieving success and goals. According to many researchers, ensuring the satisfaction of employees increases organizations’ performance by providing maximum efficiency. The Herzberg job satisfaction theory is the most well-known theory and consists of two parts, hygiene (internal) and motivational (external). Hygiene factors, which are success, self-determination, job description, and responsibility, improve job satisfaction. On the other hand, motivational factors provide job satisfaction through business policies, salaries, management, supervision, business lines, interpersonal communication, status, job security, and communication with the top management, and their lack could lead to dissatisfaction. The objective of this study was to research the impact of Balanced Scorecard on employee’s well-being, its theoretical frameworks and concepts, and empirical researches. The research investigated relationship between BSC and organization performance through monetary and non-monetary perspectives and effect of BSC on well-being. Non-monetary analysis has been done through the questionnaire of State of Michigan employees and simple random sampling technique was used in the study. In data analysis, job satisfaction survey, organizational commitment survey, positive leader survey and BSC survey were examined. Data analysis has done with SPSS 28.0 statistical program. The correlation coefficient was calculated to determine the severity and direction of the relationship between the scores obtained from the scales. Monetary (financial) analysis has been done through the financial data between 2000 to 2020 of State of Michigan. Multicollinearity in Regression Analysis has been used to measure financial performance of organization. The findings of this study are that BSC significantly increased organizational performance and had a significant impact on employee well-being.

Keywords:
Balanced Scorecard, Positive Management, Employee Well-Being

DOI: 10.20472/BM.2022.10.1.001

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APA citation:
CEREN PERI CIGNITAS (2022). Balanced Scorecard: The Key to Employee Well-Being - The Impact of Balanced Scorecard on Employee Well-Being: The Case of State of Michigan-USA. International Journal of Business and Management, Vol. X(1), pp. 1-29. , DOI: 10.20472/BM.2022.10.1.001


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