Explain how an improvement in employee retention (a Learning and Growth measure) could flow through each of the balanced scorecard perspectives to result in improved financial performance.
Expert Answer
The balance scorecard tool, devsied by Kaplan and Norton gives a more accurate measurement of a firm’s capabilities to create long term value by identifying the contributing drivers of this value. When we discuss about the employee retention contributor, it is actually one of the three long term value creators within any organization, the others including customer and internal capabilities or operations. The short term value contributor is the Finances
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