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The Learning and Growth Perspective is a part of the balanced scorecard that refers to intangible assets (e.g., employee skills and abilities) that are required to maintain internal processes in the organization. More broadly, it consists of the companies’ jobs, systems and climate, all three of which are needed to maintain survival. Sometimes improvements made in the learning and growth domain hinder short-term results in service of facilitating long-term progress.
Description of Learning and Growth Perspective
The main function of the Learning and Growth Perspective is to understand how intangible assets drive the major sources of value in the company, consisting of:
- Human capital: The human knowledge, skills, abilities and other characteristics needed to carry out the business strategy. It is important that the best people are placed in positions that are critical for strategy execution. This means there should be no skills gap in these jobs. To accomplish this goal, training, valid selection procedures and effective succession planning might be necessary actions.
- Information capital: This refers to the information systems, networks and infrastructure needed to carry out the strategy. It is important to have the proper alignment between IT and the technology needed for the strategy.
- Organizational capital: An organization-wide ability to manage change to deliver the strategy effectively. Senior leaders should regularly examine company culture and climate to ensure it is aligned with what is needed for strategy execution. If not, it is important to ensure that employee actions become aligned with the mission, values, vision and strategy of the company, which might require a shift in what behaviors are rewarded and supported (i.e., climate). Additionally, it might be necessary to change the type of candidates who are recruited and selected and engage in company-wide training.
Praxie's Online Learning & Growth Perspective Tools & Templates
The tools managers can use to guide their employees through the steps for using a Learning and Growth Perspective Scorecard are typically presentations, spreadsheets, and other strategic documents. Get started with our Learning and Growth Perspective template.
How to use it:
- For each dimension in the template, list what’s needed to ensure successful implementation of your business strategy.
- Under Human Capital, list the human knowledge, skills, abilities, and other needed characteristics.
- Under Information Capital, list the needed information systems, networks, and infrastructure.
- Under Organizational Capital, list the actions needed for the organizational climate to ensure alignment with the business strategy.
- Create an action plan for developing and validating your list of priorities with your team and organization.
Unlike most traditional Learning and Growth Perspective processes, Praxie’s online Learning and Growth Perspective tools allow any team or organization to instantly begin working with our web templates and input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.