What is benchmarking?

Benchmarking is comparing one’s business processes and performance metrics to the industry’s best and best practices from other companies. Factors typically measured are quality, time and cost.

Why should organisations benchmark?

Benchmarking helps organisations to identify the best firms in their industry where similar processes exist and compare the results and processes of those studied (the targets) to one’s own results and processes. This enables them to learn how well the targets perform and more importantly the business process that explains why these firms are successful.

How do we benchmark?

  • Identify the function that should be benchmarked
  • Find exemplar organisations in the service to be benchmarked (Holders Directory on the Customer Service Excellence website
  • Discuss methodology for comparison
  • Discuss outcomes with all involved and the way forward 
  • Implement new or working practises as a result

Benchmarking is vital to organisations as it is a tool for continuous improvement against industry’s best.