Thriving—or just surviving—in today's ultracompetitive market requires ongoing improvement of the processes that drive a business. Only by becoming more innovative, streamlined and information-savvy can companies excel in cost savings and quality of work performed. World-class companies build their edge by continually identifying and adopting best practices, which are the optimum ways to perform a business process. Whether found internally among departments or externally among peers or cross-industry groups, best practices offer unique opportunities to build a more agile, efficient enterprise. Well-implemented best practices stretch an organization beyond its own finish line and are best integrated through high-end communications, leadership, training, teamwork, knowledge sharing and performance measurement.
This benchmarking tool focuses on the key performance indicators (KPIs) for applying best practices across the organization. Example measures of success include:
- Percentage of managers who formally communicate the role of best practices
- Number of benefits described for the best practices venture
- Number of questions raised in best practices orientation sessions
- Percentage of employees who react favorably to the best practices initiative
- Frequency of information delivery to ensure that the case for best practices has been heard and understood
- Number of communication vehicles used to transmit information about the best practices venture