Why is it important to benchmark? This is best explained by providing you with the following example. Just imagine research shows that your organization scores a 5.9 for rewards and a 7.0 for enthusiasm. You might think; that 5.9 needs some working on, but the 7.0 is quite good. What you do not realize, is that the average score for rewards in your country or industry is a 5.9, but the average for enthusiasm is a 7.4. This means you are on par when it comes to rewards, but your enthusiasm actually needs some TLC! Without a benchmark, you are at risk of drawing the wrong conclusions, which is a waste of all the feedback you received.
Make the comparison count
Whenever you ask us to conduct an employee, pulse, onboarding, or exit survey, your results will always be compared to one or multiple benchmarks. This adds value to the numbers and ensures they are understood in the correct context. Comparing your company to others that are relevant is essential. It doesn’t make sense to compare the results of a healthcare organization to those of a financial institution, or a SMB to a corporate for that matter. When you compare apples to oranges, you are still at risk of drawing the wrong conclusions.
Use recent benchmark data
One other thing to keep in mind is using recent data. At Effectory our benchmarks are updated every month. This means you are always working with the latest numbers. Our set of questions are all validated and based on scientific research combined with extensive practical experience. Every benchmark’s population is carefully composed and represents the working population on gender, age, company-size, industry, length of service and education level. We always provide you with the correct data, data that make a difference!
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