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Create a Culture of Benchmarking

WHAT ARE the other organizations or communities in your area of expertise doing well? Benchmarking is a wonderful developmental activity for a number of reasons. For instance, the activity allows individuals an opportunity to get away and examine another organization. The process of benchmarking confirms what you are doing well and shines a light on what needs to be improved. Your team needs to experience and internalize what other organizations are doing. After all, with your guidance, they will likely implement what they have learned. Leaders should schedule opportunities for their teams to benchmark other companies, divisions, agencies, and departments at least twice a year. As an aside, it may be helpful to benchmark organizations outside your domain. Doing so will allow your team the chance to view other models and practices that may not exist in your industry. Several clients of ours have actually found greater success benchmarking industries different from their own. Why? For two reasons. First, without the threat of competition, people are more likely to be honest regarding their business practices. Second, it is more likely that organizations with environments different from yours are doing unique things that may be foreign to your industry. We know that necessity is the mother of invention, so this approach is a particularly good one to develop this innovative spirit.

Bottom line, benchmarking is a great way to stay ahead of the curve, whether you benchmark parallel or nonparallel industries. If your team members know what is happening in peer institutions or communities, they will be better educated and better prepared to take your organization to the next level.