Benchmarking [CLOs: 1, 2]
Benchmarking is a method of comparing human resource data with that of other organizations. Through comparisons, the human resource manager can evaluate competitiveness within the industry. The data can be used to determine areas in which changes should be made. Using your current job of VP of Human Resources comparison, go to the Occupational Outlook Handbook (Links to an external site.) and additional sources to locate and compare the data. Examine factors such as salaries, benefits, and turnover rates. Analyze how your job compares to the industry averages. Compare and contrast the differences between the benchmark and your job. Explain how benchmarking effects HR decision making.
Your responses should be a minimum of 300 words.