Getting off the bench to start benchmarking
In a recent study conducted by the Global Benchmarking Network, benchmarking was rated as the tool most likely to increase significantly in popularity over the next three years. Over 60% of organizations surveyed stated that they were not currently using benchmarking but were likely to begin using them in the next three years. Benchmarking is a methodology used by nonprofits to gauge their organization’s performance relative to other organizations in the same or similar cohorts/ networks. The goal of benchmarking is to identify best practices, weaknesses, and opportunities for improvement.
This session will present research on different types of benchmarking in nonprofits, benefits of benchmarking/ pros and cons of benchmarking, and present a real-life example of how one organization began using benchmarking reporting (framework, methodology, lessons learned, etc.).
- Key metrics for your organization
- Identify data collection methods
- How to kick off a benchmarking program at your respective organization