Any strategic planning and implementation of key initiatives must be based on reliable and complete information about the current state of the company and its position in the market in relation to competitors and market leaders.
Benchmarking helps in such tasks as changing the business model and related processes, attracting and retaining top managers to develop or transform the business, and choosing from several strategic scenarios or structural changes.
Benchmarking may include:
- Detailed information on executive compensation levels in given companies and industries;
- A description and comparison of short-term and long-term incentive (LTI) systems for managers;
- An overview of organizational and functional structures of companies;
- Comparative analysis of business processes and business models;
- Examples of successful implementation of new solutions and transformations.
1. At Ward Howell, each of our projects coincides with a unique client request and begins by identifying the reference group of companies and determining the parameters for analysis. Our consultants' broad industrial specialization and daily communication with top company managers and business owners enable us to select comparable companies or suggest a combined model when there are no direct equivalents (2–7 days).
2. Once the sample and comparison parameters have been determined, we begin to directly search for the necessary information. We obtain most of our information directly from executives, board members, HR directors, and trusted partners, as well as from our constantly updated database. We also utilize open sources – corporate websites, and companies’ analytical and financial reports (2–3 weeks).
3. Based on all the data received, we compile a detailed report with our recommendations, accompanied by a spreadsheet with calculations (2–3 days).
4. As a rule, we present the results of our research to the Board of directors or to the management board, and answer any questions and discuss recommendations and further steps.
Based on the results of the benchmarking, we provide expert customer support in the following areas:
Ward Howell expertise
We have relevant experience of conducting benchmarking and analytical projects for the largest Russian companies.
Our high standards of internal processes, an updated knowledge base, and daily contact with top company officials, business owners, and Board members guarantee prompt data retrieval, accuracy, and depth.
Our team consists of industrial and functional experts, giving us a deep understanding of the context and allowing us to quickly obtain accurate information about almost any top manager.
We conduct our own leadership research and participate in global projects with INSEAD Business School on topics such as leadership, corporate governance, family business, and succession planning. We have authored several business books and numerous academic publications. We rely on both practical experience and accumulated academic knowledge to implement our projects.
We strive to ensure that our company, projects, and practices have a positive impact on the future and create long-term results for our both clients and Ward Howell.
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