![]() ![]() This lets your customers answer crucial questions like: Key areas of focus include recruitment, engagement, retention, training, compensation planning, budgeting, turnover, and diversity, equity, and inclusion (DEI). Meanwhile, external benchmarking compares similar metrics to peer or competitor organizations to identify strengths and weaknesses in relation to the broader industry.īoth are valuable and can help organizations access insights into their business operation and performance, identify industry trends, improve HR practices, and improve employee experience. Internal benchmarking compares metrics within an organization, between segments and over time, to set standards for evaluations and track key performance indicators. This can illuminate areas for improvement-like a turnover rate that greatly exceeds that of peers-while providing momentum for change and allowing leaders to track progress. HR benchmarking helps organizations place their data in a broader context by comparing it to similar or competitor organizations. What is HR benchmarking, and why do your customers want it? ![]() By adding HR benchmarks in your solution, you can give customers the data and insights they need to make timely, well-informed decisions. They need accurate, reliable, and timely data to gauge the state of their industry and see how they stack up to peers. Your customers’ businesses don’t exist in a vacuum. By comparing similar characteristics within and across organizations, leaders can find out where they’re falling behind and make plans to improve. HR benchmarking shows leaders the answers. To outpace competitors, retain high-performing employees, and meet key targets, organizations need to know what good looks like. ![]()
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