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Why Benchmarking 2.0 is a Must-Have for Influential HR Leaders

Visier

Jac Fitz-enz — now celebrated as the father of human capital strategic analysis and measurement — founded the Saratoga Institute , and developed the first international HR benchmarking service. In this first wave of benchmarking, HR was provided with static comparison data that was typically 24 months old.

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Why Benchmarking 2.0 is a Must-Have for Influential HR Leaders

Visier

Jac Fitz-enz — now celebrated as the father of modern HR — founded the Saratoga Institute , and developed the first international HR benchmarking service. In this first wave of benchmarking, HR was provided with static comparison data that was typically 24 months old. Enter HR Benchmarking 2.0:

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Salary Benchmarking Guide - Importance, Process, Challenges, and Trends

Empuls

Salary benchmarking is when HR compares the organization's pay levels with market rates for similar jobs. According to HRforecast, 63% of organizations utilizing benchmarking practices are more likely to retain and attract top talent.   Salary benchmarking ensures that employees are paid fairly for their work. 

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Talent acquisition strategy and recruitment success

Acendre

In fact, premium insights at this level are achieved with a calculated combination and comparison of data from all your disparate HR systems. For this reason, a lack of ability to streamline and benchmark recruiting efforts against goals is a common challenge without the right tools.

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Build vs. Rent: Don’t Crash on the Do-It-Yourself Iceberg for People Analytics

Visier

The actual work to build a solution that is tailored to meet your needs — such as answering questions about recruiting, employee retention and engagement, or diversity and inclusion — requires you or a vendor you hire to develop the solution from the ground up.

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8 Questions to Ask for Effective HR Reports

EmployeeConnect

It’s critical to evaluate staff strengths and weaknesses, training, education and the company’s current and long-term needs to determine which information and benchmarks are critical for defining progress or indicating that remediation is needed. Do we agree on definitions? What format communicates the message best?

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How to Use Employee Benchmarks

Namely

When using employee surveys, it’s important to have comparison data so you can track how you’re doing over time. There are generally two ways to compare your data—to your own results year-over-year or to a benchmark. Benchmark comparisons give you the added context of how your organization is doing relative to your peers.