Eeasytraining Insights, CHIC Hospitality Consulting, Vol. They are also used to measure actual organizational and departmental performance. Such benchmarks form the basis of forecasts, budget planning, and Profit and Loss reports. Benchmarks are set after goals and objectives are decided upon. Benchmarks are also set for work performance which can be measured, such as the number of cars assembled, number of faulty equipment, returned merchandise and the reason for the return, number of covers served by a waiter, the number of rings before an incoming call is answered by company employees, the duration and number of unanswered calls, the number customers who hanged up, and so forth.
Most companies also express work performance-related benchmarks in quantitative and financial data.
This practice is a disservice to the company and to the managers and employees whose performance is being measured. Company values are the essential third integer when setting benchmarks for human performance. For example, one of the values a company has is Customer Satisfaction. When determining benchmarks for work performance, there are many subtleties around the job position in question which we have to analyze, categorize and prioritize, directing our thoughts towards the desired end-results which would lead to a successful operation. Without all these aspects, efforts in benchmarking become futile.