Benchmarking versus Not Benchmarking

Mar 19th, 2015

Looking at this list below, you will quickly draw an understanding of the benefits of benchmarking and if your company or organization should in fact start a benchmarking process or project.

On top are the top 5 benefits a client provided back to us after recently completing a benchmarking project. Below the top 5 characteristics we all to commonly hear from new clients looking for clarity and improvements.

Benchmarking Benefits

  1. Know the best practices of successful businesses in your industry and alike industry
  2. Make informed decisions on continuous business and department improvement
  3. Partnering with stakeholders to openly talk about percentages
  4. In control of strategic competitive edge
  5. Evolving the company and planning for a better year ahead

No Benchmarking Alarms

  1. Performance measures have no KPI’s that directly relate to historical success
  2. Continuously making bandage or quick fix actions/tactics
  3. In a silo and or with tunnel vision
  4. Data on the industry is “nice to have”, not a strategic importance
  5. Attempting to mirror another company/process because they seam from the outside to be successful

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