Wednesday, 4 November 2015

What are the Four Reasons Why Companies Should Move Beyond Benchmarking?

We have four reasons to move beyond benchmarking, if you haven’t already.
  1. It is time to stop simply spending out and spending time on the benchmarking exercises to see the size of the gap, but knowing the size isn’t enough. It is time to start doing more about the gaps that are exposed by the benchmarking and making the investment worthwhile.
  2. There is no guarantee that a performance management best practice will work effectively in your business, even if it works with other businesses that are similar to yours.
  3. Information that was gathered by benchmarks is now often found in the public domain. There are now new ways of accessing metrics and best practices and it’s time to use them.
  4. Markets are complex and volatile and therefore best practices are required to ensure companies are able to operate effectively.

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