Standardizing KPIs – A Success Formula in Secondary Benchmarking Studies

Benchmarking is a highly structured process which aims to improve the performance of an organization by comparing it with other competitors or with the market’s best practices.
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Benchmarking is a highly structured process which aims to improve the performance of an organization by comparing it with other competitors or with the market’s best practices.
A common disappointment among managers in regards to measuring performance is that in practice, in many cases, the key performance indicators (KPIs) monitored do not seem relevant as they are not connected to the strategy.
Most would agree that a well-planned business strategy is necessary for an organization to achieve desired business results. Business leaders in the highest-performing companies understand that, and while a detailed business strategy is necessary for successful organizational performance, it is not sufficient.
Collecting data on organizational decisions, analyzing it and checking it for accuracy will bring insights into the performance of a business, however this does not guarantee adequate decision-making.
As an HR manager, you understand the importance of building great relationships with your employees. Here’s how technology can help you accomplish this.