Benchmarking is the process of comparing one's talent management processes and performance metrics to industry bests and/or best practices from other industries. Improvements from learning mean doing things better, faster, and cheaper, and with greater retention of top talent.

• Identify your problem areas
• Identify other industries that have similar processes
• Survey companies for measures and practices
• Visit the "best practice" companies to identify leading edge practices
• Take the leading edge practices and develop implementation plans which include identification of specific opportunities

Example: Fisher Rock was retained by a leading professional organization to benchark best practices in Global Mobility Operations.