Phrase: Benchmarking
Where you might hear it: The public and voluntary sectors have recently adopted the term but the private sector has been onto it for years.
What does it mean: Benchmarking is all about improvement. It's basically a means of identifying and implementing best practice. You measure what your organisation is doing in comparison to others, sometimes from your sector, sometimes not. It's a way of learning from the experience of anyone who's been there, done that and it saves you from making costly mistakes when you try something new.
How to use it: Tell your colleagues to make sure they use "benchmarking" to inform any future policy developments. Use a "benchmarking index" to quickly gather information about the performance of your contemporaries or competitors.
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