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How Can Benchmarking Be Used to Help Increase Productivity

Benchmarking allows companies to strategically measure their performance, clearly showing where they stand and where they can improve.

Staying ahead of the competition demands continuous improvement, and one of the ways to increase productivity in the workplace is through benchmarking.

Benchmarking is a valuable tool for setting realistic goals and implementing strategies to boost productivity. In this article, discover the advanced features of our gamification platform and how it can help companies optimize and track their teams’ performance. 

 

What Is Benchmarking? 

Benchmarking measures an organization’s performance and practices against those of other leading companies. The main goal of benchmarking is to identify areas for improvement, discover best practices, and set performance targets that boost productivity.

 

Types of Benchmarking

There are several types of benchmarking, including:

  • Internal benchmarking: This type of benchmarking involves analyzing the performance metrics and practices within different departments in the same organization. It identifies best practices already in place and ensures consistency across the company.
  • Competitive benchmarking: This type of benchmarking entails comparing a company’s performance with its competitors. Understanding what competitors are doing more efficiently can help a company strategize and improve.
  • Strategic benchmarking: This type goes a step further than competitive benchmarking by comparing companies that excel regardless of industry. For example, an insurance company might benchmark the customer service practices of a retail company offering exceptional customer service.

 

Every type of benchmarking can provide a roadmap for further improvement. Benchmarking reveals the areas that need to be improved in order to achieve optimal performance. Companies can set realistic and achievable goals based on the performance of top-performing companies.

 

The Benchmarking Process 

Successful businesses make benchmarking a continuous process. Here are the stages of benchmarking:

  • Identify what to benchmark: The first step is to decide which processes or performance metrics are critical for the organization’s success. This could be team development, sales, or another area of growth.
  • Choose benchmarking partners: Decide the organizations or standards to benchmark. This can be internal, competitive, strategic benchmarking, or a combination of the three.  
  • Collect data: Collect data on performance metrics. This can involve surveys, interviews, and analysis of public information. It is crucial to organize all data into an easy-to-digest format.
  • Analyze and compare: Analyze the collected data against your organization’s performance. Identify areas where your organization can improve.
  • Create action plans: After analyzing the data, create action plans to close performance gaps. The organization can set specific, achievable goals.
  • Monitor progress: Organizations should check progress regularly. Advanced software can track metrics and make them readily available. Centrical offers a way for companies to set and achieve their goals!

 

Using Gamification to Help With Benchmarking

Gamification involves integrating game-design elements in non-game situations. For example, training and development can include leaderboards and points. It can also enhance the effectiveness of benchmarking by encouraging participation and enthusiasm among employees. 

Benchmarking involves collecting and analyzing large amounts of data. It can be a tedious and time-consuming job, which can feel boring or overwhelming. Gamification can transform this process by introducing engaging elements. 

For example, employees can earn rewards for contributing valuable data. When someone completes benchmarking tasks on time, they may move up on the leaderboard. Leaderboards can create healthy competition and motivate employees to participate. 

There are software systems that expertly integrate gamification with benchmarking. Centrical’s platform combines gamification with performance tracking. It allows employees to see their progress against benchmarks on their mobile devices. Being able to track where they stand and receive instant feedback can keep employees motivated and aligned with company goals. 

 

One Goal at a Time 

Benchmarking can help companies grow and succeed one goal at a time. By learning what departments or other companies are doing well, necessary adjustments can be made to make significant improvements. 

Gamification can increase engagement and encourage continuous advancement. Centrical can help organize benchmarking data and track employees’ progress in an innovative way!

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