8 steps in the benchmarking process

8 steps in the benchmarking process

1. 1. Select a subject to benchmark

   • DECIDE which processes are critical to the company’s success.
   • Those responsible are executives and other senior management.
   • It is important to select and define the measures you want to collect.

2. 4. Collect and analyze data

   • IMPORTANT STEP
   • Gather information of other companies through research.
     • All stakeholders should get together to analyze the data.

3. 7. Implement the changes

   • Closely monitor the changes.
   • Make sure all employees understand their job as they are working to reach the same goal.

4. 6. Create a plan

   • Generate a plan to implement changes that you have identified.
   • Clearly defined goals.
     • Minimize any pushback you may get from employees.

5. 8. Repeat the process

   • Time to find other ways to improve.
   • Follow the continuous practice of benchmarking.

6. 3. Document your current processes

   • Scheme your current processes.
   • Identify areas that need improvement.
     • Compare them against the chosen organization.

7. 5. Measure your performance against the data you’ve collected

   • Compare the data you’ve collected.
   • See where you’re falling behind.
   • Identify what causes the gaps in your process.

8. 2. Decide which organizations or companies you want to benchmark

   • Gather information from several sources.
   • Select several different organizations to study.

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