Chapter 3 Benchmarking Flashcards
Explain the benefits of bench marking and how it can lead to best practices
Benchmarking adds value to an organization by linking learning with taking action. It allows you to see practices that close the performance gap and improve operations. It can lead to best practices by determining how others achieved their performance level and how they applied their practices.
Describe the key characteristics of high performance organizations (6)
1) Vision and mission are shared and owned by all stakeholders
2) Strategy is performance based, clear and mapped to ensure individuals and teams turn vision and mission into action and results
3) Goals are challenging and make a difference to the way in which work is completed.
4) Teamwork is effective and empowered
5) Better business practices are used to secure efficient organizational practices. Focus is on customer and employee satisfaction, fiscal and operational accountability and quality
6) Performance is measured using key performance indicators.
List the steps in a continuous improvement process (7) (I D E S I R E)
Identify and define the problem.
Develop possible solutions for the situation.
Evaluate solutions and select the desired one.
Study the existing situation and get the facts.
Implement the solution.
Revise, if necessary, and start again.
Evaluate the solution results.
Describe the activities that take place in the benchmarking process (4) (DAIR)
Define
Analyze
Implement
Review progress and recalibrate.
Describe the Define Step in the benchmarking process. (SDII)
-Select the area to be studied.
-Define the process that is to be benchmarked.
-Identify potential benchmarking partners.
-Identify the data required, sources and
appropriate methods of collection.
Describe the Analyze Step in the benchmarking process (C D E T)
- Collect the data and select benchmarking partners.
- Determine the performance gap.
- Establish the difference in the process.
- Target future performance.
Describe the Implement Step in the benchmarking process (CAI)
- Communication and commitment.
- Adjust targets and develop improvement plan.
- Implement and monitor.
Describe the Review Step in the benchmarking process
Review progress and recalibrate. The “best” in business is constantly getting better. Hopefully your
performance will be improving too. To get the most out of
benchmarking, make sure it is an ongoing process.
Explain how benchmarking can be used as an effective performance
management tool
Performance indicators are ideal benchmarking measurements. They serve as targets
for setting and evaluating performance. Benchmarking performance indicators against
those of high performance organizational departments helps identify performance gaps.
Under the analysis phase of benchmarking the gaps are examined to understand why
they exist.
What are the 5 key phases of benchmarking (P I A I E)
- Planning and organization
- Information Gathering
- Analysis
- Implementation
- Evaluation
Explain how to benchmark with performance indicators
Allows you to set specific targets to evaluate performance.
Explain how to benchmark with best practices
Benchmarking best practices first evaluates other organizations’ business processes
and then adopts best practices to improve performance, search for innovative ideas,
and gain a competitive advantage. Benchmarking with best practices determines how
others achieved their performance level and how they apply their practices.
Discuss areas in the payroll department which could benefit from benchmarking and best practices.
The department’s objectives are to pay people accurately, on time and in compliance with legislative requirements. Best practices intend to maximize service quality, accuracy, timeliness, efficiency, and effectiveness. -Management -Processes -Systems -Earnings, Benefits and Deductions -Payments -Service -Outsourcing -Storage -Forms and documents -Payroll controls -Payroll Measurements
Explain best practices (satee)
They intend to maximize service quality, accuracy, timeliness, Efficiency and effectiveness.
