Make Benefit Design Work for You
Benchmarking is:
- The process of improving performance by continuously identifying, understanding, and adapting outstanding practices and processes found inside and outside the organization.1
- A catalyst for implementing innovative practices that improve the total value of health management initiatives within the organization.
- More than setting standards and making comparisons. It helps to align employee health and productivity with the business goals of the organization.
Important Reasons to Benchmark
- Accelerate and manage change.
- Overcome complacency and create a sense of time urgency.
- Establish cross-functional goals (eg, benefits,
health promotion, disability,
employee assistance program).
- Look "outside of the box" by studying best practice organizations.
- Make informed decisions.
At a minimum, your efforts should establish 3 benchmarking categories:
- Internal: Set standards (goals and objectives). Manage variation. Track progress.
- External: Evaluate employers within your industry. Establish a context for comparison.
- Best practice: Identify the “best in class.” Establish goals for internal improvement.
Reference:
- APQC. White paper for senior management based on the internationally acclaimed study organizing and managing benchmarking. Benchmarking: leveraging best-practice strategies. 1994-2006. www.apqc.org/portal/apqc/ksn?paf_gear_id=contentgearhome
&paf_dm=full&pageselect=include&docid=112421. Accessed August 21, 2007.