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Using Benchmarking to Improve ROI
Learn how to set benchmarks to improve your return on investment (ROI)Preview the first lesson free — get full access to all 5 lessons.
Intermediate Provider : Erin Donovan 5 Lessons · 13m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
Driving change and success are two elements that are core to successful organizations. A business must choose its investments—both in time and resources—based on those items that bring the most return. The idea of benchmarking—as it is defined through return on investment (ROI)—is to draw on those things that your business does well, while learning from competitors and industry leaders who are succeeding in areas that most align with what you want to achieve. Benchmarking is essential to creating goals that line up with what your team does, as well as with where and how you choose to invest your resources.
In this course, Using Benchmarking to Improve ROI, you’ll learn how to use benchmarking to drive improvement, implement change, and employ methods that can monitor your success and profitability. You’ll explore four methods to help you do this well. Being able to benchmark while keeping your ROI in mind is a technique that every successful business leader uses.
What You'll Learn
- Identify areas of improvement within your business using benchmarking
- Assess and apply changes to drive improvement and implement change
- Analyze and monitor improvement in ROI
- Apply four methods for benchmarking to improve return on investment
- Use benchmarking to monitor your success and profitability
Key Takeaways
- Benchmarking, as defined through return on investment, draws on what your business does well while learning from competitors and industry leaders succeeding in areas aligned with your goals.
- Benchmarking is essential to creating goals that line up with what your team does and with where and how you choose to invest your resources.
- A business must choose its investments in time and resources based on the items that bring the most return.
- The course presents four methods to help you benchmark, drive improvement, implement change, and monitor success and profitability.
- Being able to benchmark while keeping ROI in mind is a technique that every successful business leader uses.
Frequently Asked Questions
What will I learn in this course?
You will learn how to use benchmarking to drive improvement, implement change, and employ methods that can monitor your success and profitability, including four methods to help you do this well.
What is benchmarking as taught in this course?
As defined through return on investment (ROI), benchmarking is the idea of drawing on those things your business does well while learning from competitors and industry leaders who are succeeding in areas that most align with what you want to achieve.
Who is this course for?
It is aimed at business leaders, since being able to benchmark while keeping ROI in mind is a technique that every successful business leader uses.
What topics does the course cover?
The course covers identifying areas of improvement, implementing changes, and monitoring improvement in ROI, with lessons that include an Introduction, Identify Areas of Improvement, Implement Changes, Monitor Improvement in ROI, and a Test Your Knowledge section.
Professional Certifications and Continuing Education Units (CEUs)
Society for Human Resource Management (SHRM®)
Professional Development Credits (PDCs): 0.25
KnowledgeCity is approved by SHRM as a Recertification General Provider to offer SHRM-CP or SHRM-SCP professional development credits (PDCs). By taking the courses approved by SHRM, KnowledgeCity can award SHRM Professional Development Credits (PDCs) for HR knowledge and competency programs related to the SHRM Body of Applied Skills and Knowledge™ (the SHRM BASK™).
