Term Paper: HR Benchmarking

Pages: 2 (811 words)  ·  Style: APA  ·  Bibliography Sources: 3  ·  Topic: Business - Management  ·  Buy This Paper

HR Benchmarking

Success in the form of profits and recognition is the ultimate goal of any business activity. The past economic area placed the available capital and the technologies used at the core of the business activity, whereas the human resource was only regarded as those workers that operated the machines. The contemporaneity has however realized the great importance of the human resource and now views it as a core necessity for the company's activity. The success of an organization is directly linked to the performances of the personnel, to their skills, capabilities, competencies and expertise.

There have been proposed several solutions to evaluate the real contribution of the human resource to the company's overall success. A remarkable means to evaluate this contribution is revealed by the benchmarking process. "The essence of benchmarking is the selection of quantitative measures [...] that facilitate comparison among establishments, or over time for the same establishments, for important aspects of performance."

Characteristics of Benchmarking relevant characteristic of benchmarking is that it can be implemented on numerous work areas, such as production, sales, profits, performance indicators, quality control, customers' content, employee turnover or research and development.

Furthermore, in order for the benchmarking process to best evaluate the performances realized at each level and compare them in time, managers have to pay increased attention to the measures they select. As such, "the selected measures should be ones for which observation can be cost effectively obtained, and that accurately reflects reality. They should also provide insight into how progress can be made."

Another characteristic of benchmarking is the continuous search for better practices. Corporation managers use benchmarking techniques to analyse the strategies implemented by successful companies. Following the model of the companies observed, managers try to develop practices that best suit the company's interests and then work on the means to implement these strategies. Ramamurthy Ramabadon states that benchmarking is characterized by the process of "identifying superior performance or practices of other organizations and internalizing such knowledge for competitive advantage."

Benchmarking Goals

There are four main goals of the benchmarking process:

identification of the internal problems or the features and departments the organization's management desires to improve;

measurement of the performances realized by each problematic department and their contribution to the organization's operations; comparison of the retrieved data with the results of better companies. The management will assess the differences and will identify the areas that need improvement;

development and implementation of… [END OF PREVIEW]

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APA Format

HR Benchmarking.  (2007, September 28).  Retrieved July 17, 2019, from https://www.essaytown.com/subjects/paper/hr-benchmarking/2235291

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"HR Benchmarking."  28 September 2007.  Web.  17 July 2019. <https://www.essaytown.com/subjects/paper/hr-benchmarking/2235291>.

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"HR Benchmarking."  Essaytown.com.  September 28, 2007.  Accessed July 17, 2019.
https://www.essaytown.com/subjects/paper/hr-benchmarking/2235291.