The Benefits of Benchmarking
Benchmarking is a common practice and sensible exercise to establish baselines, define best practices, identify improvement opportunities and create a competitive environment within the organization. Integrating benchmarking into your organization will result in valuable data that encourages discussion and sparks new ideas and practices. At its best, it can be used as a tool to help companies evaluate and prioritize improvement opportunities.
Benchmarking can allow you to:
Gain an independent perspective about how well you perform compared to other companies
Drill down into performance gaps to identify areas for improvement
Develop a standardized set of processes and metrics
Enable a mindset and culture of continuous improvement
Set performance expectations
Monitor company performance and manage change
Sound complex? It doesn’t have to be.
For more information on Benchmarking email us at info@csipbl.com