Comparing ourselves to others is natural. We want to see how we stack up against the competition, to understand how we’re performing. And this is often the case when it comes to the world of employee experience and engagement.
One of the questions we‘re often asked is ‘how do we compare to other organisations?’
This is understandable; your survey results are in, and your company has an engagement index of *insert your number here*.
How do you know if this is good, bad or mediocre? How do you compare to similar organisations? This is where benchmarking comes in.
So, where do you start?
The lack of standardised definitions of employee experience and engagement is what makes benchmarking tricky. Even using the benchmarks provided by your survey supplier (if you use one) is not without its problems. BUT if you understand the limitations, and don’t get too hung up the numbers and comparisons, it can be a useful tool.
The data available provides a global snapshot of the state of employee engagement (and, to a lesser extent, experience). You can look at the trends and see the bigger picture. If you want to benchmark, we recommend using a range of different data points to understand how your organisation compares and give you richer insights. Remember, don’t just rely on the benchmarks of the survey company you happen to use.
Introducing the People Lab Benchmarking Report
At People Lab, we publish our Benchmarking Report twice a year which collates benchmarks, and other measures, from the world of employee engagement and experience. For the first time, we have teamed up with our friends at The EX Space to bring you the latest report. The data is in the public domain, but our report shares it in one place, to save you hours of research.
In the report we also share the pros and cons of benchmarking and how to make it work for you, and in addition to the latest benchmarks, our report also details some well-known models and approaches to employee engagement and experience.
In summary the report provides the latest data at your fingertips and helps to demystify the dark art of benchmarking.
For the first time we are going to run a webinar to share the lasts benchmarking report and answer any questions you might have.
In the session we’ll cover:
- Benchmarking – why bother?
- The pros and cons of benchmarking and how to make it work for you
- Approach and models of employee engagement and experience
- …and what they are really measuring
- The latest EX and engagement benchmarks
We’d love you join us on Wednesday 1st February.
Sign up here to join the webinar, following which you’ll receive your copy of our latest benchmarking report. If you have any questions, or would like to find out more, drop us a line here.
