Hitting the Ground Running: Benchmarking for 2024

November 01, 2023 | 446 Views

Hitting the Ground Running: Benchmarking for 2024

Damian Hanft

CHART President | Vice President, Talent Experience | Inspire Brands

As we begin to look at closing out the 2023 year, you’re most likely in conversations on what 2024 will look like. This may take the form of setting goals based on your organization’s targets or (hopefully) being asked what your priorities will be in 2024. Another way to state this question is to answer it in terms of “how will I add value” to the organization.

Naturally, when answering this question it’s probably easier to think of activities. But the challenge is to think of the activities in terms of outcomes. This could include things like reducing turnover or training costs, speeding up the time it takes getting someone proficient, increasing sales, and so on. Once you share the outcomes you would like to impact, you can share how the activities lead to the outcomes and deliver an ROI.

Now, there is a secret that many of the long-term CHART members know. One of the best resources for putting together goals, training programs, and benchmarking are the other members of CHART. As you are building the business case for initiatives you’ll pursue in 2024, wouldn’t it be easier to share benchmarks of what others are doing? We all know the adage that there is no need to reinvent the wheel. This is a great time of year to pick up the phone, send an email, or use Ask My Peers to learn and perhaps refine your own plans, or gain supporting anecdotal data that you can use to ultimately answer the 2024 priorities question.

One of the great things about CHART membership is the diverse network it provides. I can’t tell you the number of times I’ve been approached by leaders within my organization that have asked me to see what others are doing on various fronts. And, the members (and friends) of CHART are that lifeline.

Best Wishes as you hit the ground running with your 2024 planning!

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