Simply stated, Benchmarking is the practice of comparing one's business processes to the highest standards and best practices from other companies.
Although it can be difficult to compare yourself to others, you need to know where your company and team stand before you can map out your strategy for future growth. To help you with that, we've developed the Officevibe Benchmark Report.
Our Benchmark Report is a potent tool that allows you:
(1) to determine what and where improvements are needed
(2) to analyze how other organizations achieve their high performance levels
(3) to use this information to improve performance.
This Report offers you the possibility to compare your organization to all other Officevibe customers in more than 90 countries across the globe. This type of benchmarking is referred to as strategic, and is used when identifying and analyzing performance on a world-class scale.
Note: We don't currently offer a Benchmark by Industry (stay tuned!). That said, employee motivation and engagement are driven by similar measures, regardless of the industry.
Ok, enough teasing, let's jump in!
Understanding the Report
As you probably know by now, we like to keep things simple and if possible, colour-coordinated. For this report, we've essentially created a grid that allows you to Benchmark your organization's Metric scores against all Officevibe customers. To access this report, click into the Reports - Benchmark section on the left hand menu.
Here's a look at what we're taking about:
As you can see, all scores appear as percentiles, which allows you to know the relative standing of your score in relation to the scores of all other companies using Officevibe today. Not only do you get to see how you compare in terms of overall Engagement, but you also get to see a break down of how you rank across all of the 10 Key Metrics listed across the top. Your aim is to be in the highest percentile as it means you are part of the top scorers.
You've also got the possibility of comparing a specific group's data to the whole organization or other groups, depending on your access level of course!
To make it easy to understand at first glance, we used semantic colours, ranging from orange for the lowest values, to green for the strongest values.
There are several ranks that attainable in the Officevibe Benchmark scale. We've created a handy tool for you to get to know the different Benchmark ranks:
By hovering your cursor over a specific percentile for a specific Metric, a pop-up will appear with your current rank, the actual score for that Metric for the team you are looking at as well as the average score for that Metric for all other Officevibe companies for you all to be able to use this as a reference.
In a nutshell, the Benchmark Report allows you to see how your organization compares to others using Officevibe, but also how each group within your organization measures up. The goal is to get an idea of where you are, determine where you want to go and start planning how you'll get there.
We like to think that success is a journey, not simply a destination and we believe this Report will help you choose the right path for your organization!