GMTL offers a competitive benchmarking service whereby companies compare themselves against competitors using a set of metrics.
Organizations use this information to define ‘best practice’ for specific metrics and compare this to their own approach. We work with our clients to come up with KPIs and other relevant competitive benchmarks.
Some companies like to benchmark their closest competitors. Others look at the best in their industry to work out how they might emulate them. Benchmarking against smaller companies is also a useful exercise. It allows clients to see who is performing well and how they’re doing it.
We use a variety of tools to get benchmarking data. Sometimes it is a collaborative exercise across several companies, where we gather and collate the data for the benefit of the group. At other times, the client does not want their identity known. Here, we would typically use our well-connected industry network to gather the relevant metrics.
We have performed several large benchmarking assignments for cross-sector corporate clients in the past year, all yielding rich results which then shape overall organisational strategy.