Technology streamlines benchmarking

Getting information on what the competition offers has never been easier
By Maureen Premdas
|Canadian HR Reporter|Last Updated: 05/13/2003

H

ave you ever wondered how many companies in your industry offer employees drug cards, or whether most long-term disability plans are employee-paid or employer-paid? Thanks to technology, it is easier than ever to benchmark plans, whatever your definition of “competitor.”

In the past, organizations relied on surveys to provide them with benchmark data. It was typically an extremely labour-intensive and time-consuming process that limited the breadth and depth of research that could be done. In recent years, companies have turned to benchmarking databases that unveil an unprecedented amount of information within minutes.