What is a Benchmark and why is it important?
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TalentMap has surveyed thousands of organizations and millions of employees across a wide variety of vertical markets, including organizations of all sizes. This means we have readily available current, first hand data that can be used for comparative purposes.
Have a low % favourable score on Compensation? Without understanding how other organizations rate compensation, the score has little context. If one were to look at scores alone, it would be easy to jump to conclusions; however, in relating your organization’s scores to organizations of a similar make up, it changes how one can perceive the scores.
If of all organizations ever surveyed, the highest % favourable score for Compensation ever seen was 50%, and the average compensation score in that grouping is 35%, and your organization scored a 45%, your organization would be considered among the elite, even though the score itself appears to be very low. Benchmarking is used in tandem with engagement drivers to determine direction and strategy.
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