Benchmarking is collating the organizational process with a standard procedure to gauge the progression and shortcomings of the process. It is also known as ‘process benchmarking’ since it is the whole procedure that is analyzed.

Organizations first collate a list of similar companies that lead in a particular field to find out where they lag behind. Comparison can also be done in relation with a standard specified by a bunch of companies.

Benchmarking is not only done to scrutinize the process but it can also be done to improvise on finances, quality, the final product, strategies and operations. What works for one company may not work for the other hence before implementing the exact same procedure one should analyze whether the plan would work for them or not.

Benchmarking is an evolving process hence the process can be demarcated as continuous. The standards keep on changing. Contemporary practices are adopted to ameliorate. It teaches you where you stand in a particular field and where you should be.

-Arti Bakshi

“Human Resource”

www.humanresource.net.in