Benchmarking
Why benchmark satisfaction?
Like any other number, a headline satisfaction measure is not very informative in isolation. Knowing that a Satisfaction IndexTM is on a scale of 10%-100% gives us some guidance, in that a score of 90% is clearly good and a score of 60% is not so great, but that range embraces the majority of organisations.
In order to understand how an organisation is performing it is necessary to consider its position relative to other organisations. This comparison can be made in a number of ways:
- With direct competitors - this is valuable data if you can get it, and represents your satisfaction market standing. The danger here is that you may be the .best of a bad bunch., vulnerable to new competitors of sudden improvements by and existing competitor.
- With other organisations in similar fields - sector benchmarking allows you to compare yourself with organisations that are not in direct competition with yourself, but face similar challenges and serve similar customers. Again the danger is that you are considering only a narrow part of the wider market. It is also dangerous to forget that your customers are not just your customers, and they will compare the service they receive from you with that they receive from other suppliers in different markets.
- With other organisations generally - this is the customer.s method of benchmarking. For example, a customer will compare your level of efficiency over the telephone with all organisations that they have telephone contact with, even if it does not seem a fair comparison. It is by benchmarking in this way, against not just the best in the industry but the best in the world, that the best companies maintain their leadership and push the market forwards.
The Leadership Factor.s satisfaction benchmark uses the third of these methods, and can offer the second in the majority of sectors. In order to implement the first it would be necessary to conduct a full CSM Market Standing survey.
What gets benchmarked?
The Leadership Factor.s satisfaction benchmark has three distinct parts:
- Overall benchmarking - a headline Satisfaction IndexTM figure is calculated and placed in our league table of scores from our database
- Region/department - where appropriate separate score can be calculated for sub-groups such as region, department or branch, and these too are placed in the league table
- Requirement benchmarking - where appropriate individual requirements can be compared to those in the benchmarking database, and reported next to the average, best and worst scores recorded
What do I need to benchmark satisfaction?
It is preferable that your CSM study should have used a methodology that is compatible with The Leadership Factor.s, although results can normally be converted afterwards.
In order to benchmark your survey The Leadership Factor needs to have your data and a brief description of the way in which it was collected (an example questionnaire would also be helpful).
Q. How do I know what data can be benchmarked?
A. Please email lindseybotha@leadershipfactor.com with a copy of your questionnaire. We can then tell you exactly what your index will be benchmarked against and which requirements/questions can be directly benchmarked.
Q. If I have used a 10-point numerical scale, is this comparable?
A. A 10 point numerical scale is recommended by The Leadership Factor and therefore if you have used a 10 point numerical scale all the benchmarking data we provide will be directly comparable. If you have used a rating scale that has not used a 10-point numerical scale the benchmarking data will not be directly comparable.
Price
The final cost can depend on the options chosen. A standard benchmarking report costs £950 (excluding VAT). Once we have received confirmation of your order a pro forma invoice will be issued. Upon receipt of payment your benchmarking report will be produced and sent to you 10 working days later.
For more information and to receive a detailed proposal please email lindseybotha@leadershipfactor.com and attach your questionnaire.