As an Amazon Associate I earn from qualifying purchases.

Benchmarking Definition and Explanation PDF Download

Learn Benchmarking definition in hrm with explanation to study “What is Benchmarking”. Study benchmarking explanation with HRM terms to review HRM course for online MBA programs.

Benchmarking Definition:

  • Comparing specific measures of performance against data on those measures in other organizations.

    Human Resource Management by Robert L. Mathis, John H. Jackson



Benchmarking Explanation:

Benchmarking includes searching externally (outside a specific business, association, industry, district or nation) to look at how others accomplish their exhibition levels, and to comprehend the procedures they use. Along these lines, benchmarking clarifies the procedures behind magnificent execution. At the point when exercises gained from a benchmarking activity are connected suitably, they encourage improved execution in basic capacities inside an association or in key zones of the business. Benchmarking ought not be viewed as an irregular exercise. To be successful, it must turn into a basic piece of a progressing improvement process, the objective being to side by side of consistently improving best practice.

Keep Learning HRM Explanations

What are Illegal Issues?

Illegal issues are upon law, or in opposition to open approach or a key guideline of a lawful framework. It ...

What is Turnover?

Turnover is the absolute deals produced by a business in a particular period. It's occasionally alluded to as gross income, ...

What is Tax Equalization Plan?

Tax equalization plan is apparently set up to urge ostracizes to work for their managers any place they might be ...

What is Performance Appraisal?

A performance evaluation is a standard survey of a representative's employment execution and in general commitment to an organization. Otherwise ...

What is Global Market Approach?

A straightforward worldwide market definition incorporates buys and offers of products and enterprises anyplace on the planet in return for ...

What is Adverse Selection?

Adeverse selection alludes for the most part to a circumstance wherein dealers have data that purchasers don't have, or the ...