Benchmarking is a process of comparing key metrics of the business processes or the performance of a company’s products, services, or processes against those of another business considered to be the best in the industry/ class.
The point of benchmarking is to identify internal opportunities for improvement.
Using this, we can study superior performance, breaking down what makes such superior performance possible, and then comparing those processes to how your business operates, you can implement changes that will yield significant improvements.
To add a benchmark, go to: Workforce >> Framework Survey >> Analytics >> Benchmark>> Add Benchmark
We provide two ways of adding benchmark:
1. Import an excel sheet: Here you will need to download the template >> add the benchmark values in the excel template>> import excel file.
2. Manual Import: Here, you can manually enter the benchmark values against each question.
By default, the benchmarking is done with the overall data. So the overall score of the organization will be the benchmark for all the Markers (Sections). Building Blocks (Sub-section) will have their Marker's (Section's) mean score as a benchmark and similarly, Measures (Questions) will have their Building Block's (Sub-section's) mean score as a benchmark.
When you manually add the benchmark at question level via excel upload or manual entry, the benchmark values will get updated and it will take the average mean score at Building Block and Marker level.
This feature is available with the following license :