What is Benchmarking?


‘Benchmarking’ is the concept of measuring something against a set of standard metrics to set a base score. Benchmarks can be used in multiple ways to monitor a company’s performance both internally and with respect to the competition.


There are multiple kinds of benchmarking systems available for a variety of purposes. For example, one could set a base rate for a product, based on which a company can increase or decrease its price as per the market conditions.


Similarly, when it comes to HR, benchmarking can be used to set a base employee satisfaction index for the company, which can be used to measure against the current index to take corrective measures.

More HR Terms


What is Branding ? ‘Branding’ is the conscious effort put in by a company to set itself apart from the competition. It helps in setting

Human Relations Movement

What is Human Relations Movement ?    The ‘Human Relations Movement’ refers to the movement by sociologist George Elton Mayo, who suggested in the 1930s

Peter Principle

What is Peter Principle?   ‘Peter Principle’ is a principle related to the merit-based style of promoting employees. It states that organizations promoting their staff

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