HRM Benchmarks: Helping Companies Achieve Process Excellence

Continuous improvement is a major goal of organizations as they strive to be leaders in their market in product and services quality, customer satisfaction, and as an employer of choice. Human resources management (HRM) benchmarking helps organizations assess their internal processes against the best performers in their industry and adopt proven practices rather than "reinventing the wheel." A benchmark is a measure that serves as a point of comparative reference. In the realm of HRM, benchmarks are frequently used by HR professionals to assess their process capabilities, talent retention, costs, and other qualitative measures against peers. This report examines different kinds of HRM benchmarking, vendors involved in HRM benchmarking, the vendor offerings, and trends in the marketplace. It also gives best practices for using internal and external benchmarking with the goals of better employee engagement, process excellence, and talent management.