When
job benchmarking is implemented
properly, it will have a direct effect on your business’ bottom line. You’ll
not only attract the best candidates, but you’ll save time and money by hiring
the right people the first time and reducing the learning curve with new
employees who are strategically matched to fit your company.
Job benchmarking can be broken into four key
phases: Setup, Key Accountabilities, Assessment,
and Results. Each phase is
contingent on the one prior, and the entire benchmarking process can be
duplicated across all positions within your company.
Setup
During
this initial phase, a Vantage Associate will meet with you
to identify the job to be benchmarked and your “Subject Matter Experts,” or
stakeholders, in this process. Depending on whether the job is new or
established, this can take anywhere from ten minutes to an hour. The Subject
Matter Experts (also called SMEs) are people who know how the job should be
done. Some examples of appropriate SMEs may include managers who have been in
the job and top performers who are currently in the same position.
Key Accountabilities
The
purpose of this phase is to ensure your job benchmark results will be accurate,
and having all SMEs in the same room together will allow for engaging,
productive work. By focusing on the main contributions the holder of the
position makes to the organization, you’ll avoid a laundry list of tasks and
assignments, instead focusing on the crucial elements of the role. By the time
this part of the process is complete, you’ll be left with a comprehensive yet
succinct group of three to five final key accountabilities that can and will be
prioritized, weighed and ultimately measured.
Assessment
This
crucial part of the job benchmarking process is where the science of DISC meets
the experience and expertise of the benchmarking team. Through a multifaceted
job report (your Associate will help you identify the particular job report
best suited for your business needs), all SMEs will participate by individually
completing the assessment with the previously identified key accountabilities
in mind. Once all of the reports are reviewed and combined, the final outcome
will result in a clear picture of the job – and now you’re ready to find the
talent to match!
Results
At
this point, you can now compare anyone you wish against the benchmark, whether
it is someone who is applying for the job or someone who is already in the job.
As personal assessments are administered, results will be compared against the
job in a Gap Report that identifies the critical success factors and the
strengths and weaknesses of each individual, as pertaining to the job.
By
investing in job benchmarking,
you’ll secure the talent necessary for success while eliminating common biases
often associated with the hiring process. The factual data you receive (based
on the job requirements themselves) will provide you with a solid foundation
for hiring and development success!
Do you know the key accountabilities
for the central roles in your organization? If not, contact Vantage for help.
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