Survey fatigue is real. As a mobility program manager, you are likely to be on the receiving end of requests to participate in industry benchmarking initiatives on a nearly daily basis. If you have sponsored a benchmark survey recently, you may have also noticed how difficult it can be to entice targeted companies to participate.
While we do not advocate relying solely on benchmarking data to drive program decisions, understanding the practices of peers is an important layer in decision-making that leads us to promote generous participation, especially in efforts made from within your ecosystem of peer companies and supply chain partners.
The following are some rules of thumb when thinking about the role of benchmarking for your program:
- Be a willing participant and generously share. While sometimes it may feel as if there is a fine line between promoting the greater good and giving away critical differentiators, the benefits you will gain from a general stance toward generously sharing is likely to far outweigh the risks of advancing the cause of a competitor. If you feel the questions asked are crossing that line, let the sponsor know. You are probably not alone and with a bit of tweaking, the effort will likely yield better results for all participants.
- Respect confidentiality. Benchmarking should never be about finding out directly or through deductive reasoning what any specific participating company may be doing or offering. Even if you are able to discern that kind of competitive intelligence, there are so many other variables that make a particular approach a good fit or not. It is highly unlikely that simply copying the approach of another company will serve you well. The best results are often those that marry an understanding of common practice with the unique nuances of the company culture.
- Cast a wide net. We are often asked about the practices of companies of a similar size, from within the same industry or moving between similar locations. These are surely valid targets for benchmarking exercises but there is also great value in soliciting participation from companies that may not look or operate exactly like yours. If you are striving for innovation and your industry group is not exactly known for that, reach out to include some input from industries that are more cutting-edge with benefits. Also be mindful that teams managing smaller programs may have the capacity and agility to adopt more innovative approaches, so perhaps let go of size or maturity of the program as automatic disqualifiers.
- Reach beyond the status quo. Today more than ever it is important for mobility benefits to be on brand and aligned with the differentiators that the frontlines of talent recruiting are using to attract the best and the brightest to your company. Strive to reorient your expectations of value by using the aggregated findings to lend direction to your decisions and defend the value of being different as much as a reason to be the same.
Contact Benivo’s Client Advisory team today to request a free consultation. Our experienced advisors stand ready to offer insights into effective strategies for optimizing the performance of your mobility program.