Organizations worldwide are being forced to be more competitive with the advent of the "Global Marketplace". This, plus rapidly changing customer tastes, the pace and nature of technological change and labor market conditions have meant that organizations have had to focus on being competitive in every aspect of their operation. The achievement of international best practice is no longer an option, but a necessity.
The achievement of international best practice refers to the way in which leading-edge organizations are able to manage and organize their operations to deliver world-class standards of performance in areas such as cost, quality and timeliness. It requires a comprehensive and integrated approach to organizational change, continuous improvement and the achievement of world-class standards of performance.
Best practice organizations are improving performance and managing change by actively adapting world-class standards to their own needs and capabilities. They do this by clearly understanding the levels of performance being achieved by their competitors and the practices by which this performance is achieved and by using that knowledge to establish performance targets and directions.
International benchmarking is the tool used to undertake this analysis and is a fundamental component of best practice.
HR Benchmarking – a consulting activity where organizations compare their HR related systems, outputs and activities with other organizations in order to determine ‘Best Practice’ and their current standing.