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DESCRIPTION OF PERFORMANCE BENCHMARKINGPerformance Benchmarking is a system that enables you to match prospective job applicants to your very best performers in a position OR your ideal performer, someone who possesses the necessary attributes to succeed in a position. It is a system that will tell you what people/behavioral characteristics (i.e., soft skills) work and do not work in the various positions in your company. It is also a database containing the ingredients for success for your people and organization as a whole at any given time. The benchmarking process begins with the creation of a custom position benchmark for your company. This would entail a brief 10-minute assessment of your employees or star performers in a position. It is also possible for you and your staff to complete assessments from the perspective of an ideal performer. The assessment tool is the Merit Profile, which is a psychological survey instrument that measures both character and behavioral competencies. When you or your stars have completed the assessment, our benchmarking system creates a mathematical equation that essentially describes key competencies that are highly predictive of success in the position. When an applicant completes a survey, the system compares his/her results to your benchmark and calculates a probability-fit, i.e., the degree to which the applicant matches your very best or ideal performers in terms of the competency requirements for success in a position. With this system, you will have a very powerful means for determining whether an applicant possesses sufficient motivation and drive to succeed in a position, whether they can pay sufficient attention to details or follow company policies & procedures, whether they are fit for management or leadership positions, whether they may be committed to your company for the long term and so forth. If there is an aspect of your business that you would like to improve, such as customer service or any others, our performance benchmarking system can help you identify only those individuals who are uniquely suited to this type of work. When you are able to hire people who are uniquely suited to a position, you will invariably improve performance. As you acquire more star performers, you can create a new benchmark that captures these improved performance levels and, in effect, you’ll be able to continually raise the standard by which you hire and promote. It’s not hard to imagine the caliber of people that you can acquire over time using this approach. 5 Ways to Ensure Great Hires |
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