Job benchmarking is an essential tool in the Talent Management lifecycle. At its core, job benchmarking is the process of creating a blueprint for success in a specific role. By identifying the key competencies, behaviors, and characteristics that are essential for success in a particular job and environment, employers use the benchmark to evaluate and compare potential candidates and level up internal employees for development.
The benefits of job benchmarking are numerous. By minimizing human bias in the hiring process, employers can ensure that they are hiring the best matched candidate for the job rather than relying on subjective opinions or who performs the best in an interview. This is particularly important in today's increasingly diverse and complex workforce.
The job benchmarking process itself is straightforward and consists of four key phases. The first phase involves defining the job and identifying key stakeholders directly connected to the job. This helps to ensure employers clearly understand why the job exists, how success in the role is measured, and how it fits within the company culture and strategy.
The second phase involves determining the key accountabilities of the job. This typically involves reviewing the job description and metrics and identifying 3-5 key accountabilities, ranking them in order of importance to the job.
The third phase of the benchmarking process involves creating the benchmark itself. This is done by compiling data gathered through a patented assessment process. (If the job could speak, what would it say?)
Finally, in phase four, the benchmark can be used to assess job candidates or internal talent. A talent assessment on the same scale as the job assessment highlights the gaps and identifies job fit or coaching opportunities.
At Wynne Hires, we believe that job benchmarking is an essential tool for any company looking to level up their Talent strategy. You can't improve what you can't measure. By creating a job benchmark, you standardize the KPIs necessary for success while maintaining the uniqueness of your organization's culture.
By creating a benchmark for open roles, employers minimize human bias in the hiring process and focus conversations with potential candidates on the comparative gaps to the benchmark rather than relying solely on subjective impressions. This saves valuable time during the interview process and supports effective, data-driven hiring decisions.
If your organization is looking to improve the hiring process and ensure that you're hiring the best possible candidate for the job, work with Wynne Hires to incorporate job benchmarking into your hiring process today!