What are Benchmarks?
Updated
What are Benchmarks?
In a few areas of WorkStep's platform, you'll notice industry benchmarking - a data point we offer to you as a means of comparison, but you may be wondering, what exactly is a benchmark?
Benchmarks are averages calculated to represent an industry standard. These averages are intended to offer you a bases on which to compare your own data and performance, to understand how certain areas measure up to that of the industry overall. As an example, you can view Favorability percentages for sites within your scope, and easily compare those percentages to how the industry is performing:
How are Benchmarks Calculated?
Our benchmarks are based on millions of responses gathered over the last four years, collected from employees in roles ranging from regional distribution to international logistics and manufacturing. Most of our partner organizations belong to the Transportation, Warehousing, Retail, and Manufacturing industries, but our data assets include workers from all supply-chain and supply-chain-adjacent fields. Our largest partners have an average tenure of over 2 years using WorkStep, allowing us to leverage and analyze long term trends made available with our benchmarking feature.
