Leadership Pulse
Benchmarking employee survey data
We have Jac Fitz-Enz as one of our members, and he's got a perspective on bechmarking that I find quite refreshing, particularly as it applies to employee survey data. My own take is that comparing your survey data from today to a lot of accumulated data from the last few years (and many, many in some cases) really does not make sense. You would not compare your company's stock price today with the stock price of your competition from the last 4 years. So why does the practice persist? Are companies out there really getting high value from it? Are decisions based on this type of benchmarking helping impact the bottom line? Jac - can you explain your point of view?
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Permalink Reply by Jac Fitz-enz on -
Benchmarking today is of little value compared to when we introduced it in 1985. The reason is that the market is so diverse and changing so rapidly that even looking at companies in your industry is of dubious value. First, it is data that is at least 6 months to 2 years old. Second, no two companies are much alike any more. If you want to get an idea of what to do versus what someoneelse did last year I suggest leading indicators. Gather data on readiness, leadership, engagement, culture, knowledge management and so forth. Also, reverse engineer ltraditional lagging indicators. Dig into our turnover data and look at who is leaving, why they left, etc. The game is going to be won by those who know how to predict what is likely to happen rather than report on what already is old news. If you are truly interested in gainin predictive skills join our Predictive Initiative: 408 223 7750.
Dr. Jac
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