Benchmarking

Effective benchmarking requires specifically identifying what your employees do and the tools and process they use. Benchmarking and understanding the competition is an essential tactic in increasing your company's profit. if you don't know what the competition is doing, you should benchmark what your competition is doing and how they are doing it and integrate this information into your business planning process. 

How does your company compare in:

  • Quality?

  • Costs?

  • Price?

  • Productivity?

  • Profitability?

  • Compensation?

  • Value?
No matter what business you are in, you have competitors and a market. Competition in this market is often relentless. Your company’s ability to compete in terms of quality, cost control, efficiency, price, productivity and profitability are essential to its success and sometimes even survival. Without benchmarking, a company can't easily understand and thus underestimates the performance of the competition. However, such underestimates can lead to complacency and surprises in the marketplace. 

Companies can be compared in any number of ways, including financial performance and ratios, shareholder value and operations, systems and procedures. Other than proprietary information, much information can be found or developed through research and industry surveys.

The Roster Network systems and procedures for benchmarking are unique as they use the Position Matrix Communication System to define, document and communicate specific work activities and tools and processes, allowing best practices to be defined with a previously unknown level of detail. This same technology also promotes knowledge and intellectual capital utilization and management. 

Benchmarking can be a very valuable tool in business and strategic planning and our Business Planning Services have it as an available option.