Benchmarking is defined as a process which compares key success factors of companies or products with competitors. The goal is to establish the average and best case a reference values in order to identify possible optimisation potential.
Benchmarking studies supply information that is required for such comparisons.
Initially the relevant topics are set and key figures defined, which provide knowledge as regards the respective success factors. These are subsequent collected and analysed using empirical methods [»].
Benchmarking studies are applied in many areas of companies and institutions. For example, key figures on turnover or investment can be compared. Benchmarking is frequently used in the human resources department, e.g. for staff estimates or salary arrangements. Practical aspects in specific sectors, occupational groups or in management make up the classic application fields.
Emergent Actio has already created a number of benchmarking studies for different applications. We will happily advise on your benchmarking project.