"I wanted to let you know how valuable the PT Benchmark reports and the process has been for my business and me. I have been able to fill a few important holes in my systems because we went through this process.
I now have objective data to use in negotiations with vendors and employees. And an unexpected benefit has been that I have used the results to help train my managers about the importance of gathering data, measuring systems and then using that data to manage those systems. We as a profession and as practice owners need this data to become more efficient and effective."
Jeffrey W. Hathaway, PT
PRO-Active Physical Therapy
The Importance of Benchmarking
Bain & Company Management Tools & Trends 2009 Report
- 12 surveys over the last 16 years with 9,933 respondents from more than 70 countries
- 2009 had 1,430 completed surveys
- Benchmarking compares processes and performance with internal and external benchmarks. Companies incorporate identified best practices to meet improvement targets.
- Globally 87% of polled executives report using benchmarking to improve their companies
- Benchmarking is the #1 management tool used by companies that report satisfaction with their financial performance
- Organizations that are satisfied with their financial performance use several tools more than those who are not satisfied:Benchmarking, Strategic Planning & Balanced Scorecard are the top three
- Tools such as Benchmark, Strategic Planning and Mission and Vision Statements are heavily used regardless of the economic cycle
- The top three most used management tools in North America are Benchmarking, Strategic Planning, and Mission and Vision Statements
- For the first time since 1997 Benchmarking passed Strategic Planning as the most used tool