Advantages of Benchmarking
Benchmarking has proved to be one of the most effectual tools for bringing about quantum-leaps in performance. The major advantages of benchmarking are as follows:
1. It is an effective 'wake-up call' that helps to work as an agent for change.
2. It is a practical approach in that changes in performance could be achieved through replicating the best practices already undertaken through someone else. It gives better understanding of the 'big picture' and gaining a broader perspective of the interplay of the enablers that facilitate the implementation of good practice.
3. It provides impetus of seeking new ways of doing things that comes by learning only. So it gives opportunities for staff to learn new skills and be included in the transformation procedure from the outset.
4. It promotes a culture in which is receptive to fresh approaches and ideas and creates an atmosphere of awareness.
5. It gives the greater confidence to staff in developing and applying new approaches since it is already tested and applied somewhere else.
6. It helps to improve quality, productivity and assist to identify priorities for improvement.
7. It permits a huge range of performance indicators to be studied and performance shortfall to be clearly seen.