Tag Archives: Benchmarking
The Adecco Group UK&I has joined forces with the CIPD (Chartered Institute of Personnel and Development) to produce the CIPD/The Adecco Group Labour Market Outlook (LMO). The LMO is a quarterly report providing analysis and commentary on key employment trends.
The LMO is one of the most authoritative employment indicators in the UK. The report is based on a survey of more than 1,000 HR professionals and senior decision makers. Further information about the survey methodology can be found in the report.
The headline finding in this report is the UK’s buoyant labour market. The net employment balance (the difference between hiring and redundancy intentions) is up for all sectors: private, public and voluntary. The report cautions readers of the report to keep these findings in context with the wider political environment. Brexit still presents a number of unknowns for the UK labour market. We also feel that training provisions, to safeguard future talent, should be addressed by the Government via both apprenticeship and non-apprenticeship courses.
The other key finding from the report is that employers’ expectations for raising pay have not really changed since the last LMO (spring 2017), and is at 1%. A piece of the (more…)
Many well known Japanese companies such as Toyota and Canon use Kaizen, with a group approach which includes everyone from CEOs to janitors on the factory floor - but is it still a relevant approach in today's ever changing business world?
Kaizen means literally: change (kai) to become good (zen).
Japanese companies distinguish between innovation, a radical form of change, and Kaizen, a continuous form of change.
This group approach has been adopted successfully in other regions of the world as well, but Japanese workers have refined it to an art form.
It is Kaizen mindset and process-oriented thinking, as opposed to the result-oriented thinking favoured by most Western firms, that has over the years, enabled Japanese industry to attain its competitive edge in the world markets.
It has been suggested that Kaizen works particularly well because Japan is a collective culture, and Kaizen relies on collective values. People in more individualistic cultures may struggle with some of the basic principles of Kaizen.
Benchmarking is a systematic tool that allows a company to determine whether its performance of organisational processes and activities represent the best practices.
Benchmarking models are used to determine how well a business unit, division, organisation or corporation is performing compared with other similar organisations.
A benchmark is a point of reference for a measurement. The term 'benchmark' presumably originates from the practice of making dimensional height measurements of an object on a workbench using a gradual scale or similar
The term 'benchmark' presumably originates from the practice of making dimensional height measurements of an object on a workbench using a gradual scale or similar tool and using the surface of the workbench as the origin for the measurements.
Traditionally, performance measures are compared with previous measures from the same organisation at different times. Although this can be a good indication of the speed of improvement within the organisation, it could be that although the organisation is improving, the competition is improving faster...
FIVE TYPES OF BENCHMARKING
- Internal benchmarking (benchmark within a corporation, for example between business units)
- Competitive benchmarking (benchmark performance or processes with competitors)
- Functional benchmarking (benchmark similar processes within an industry)
- Generic benchmarking (comparing operations between unrelated industries)
- Collaborative benchmarking (carried out collaboratively by groups of companies (e.g. subsidiaries of a multinational in different countries or an industry organisation).
The Chartered Institute of Management Accountants (CIMA) produce a range of 'Topic Gateways' which are intended as a refresher or introduction to topics of interest to their members and others involved in the practical application of finance within organisations.
This Topic Gateway explains the concept of benchmarking.
To download this booklet: Click Here
In this third Be Inspired Interviews about Primi, Cesco talks about The Perfect Primi Day.
This revolves around every member of the business, from the chefs to the waiters and the management, contributing to create a perfect day. Not only for the customer but also for themselves.
Check out more on Primi here