Setting benchmarks, measuring progress toward goals and evaluating past performance is both challenging and, in many instances, must resolve a problem of perception irrespective of quantitative numbers. The considerable reputational issues in the U.S. Gulf Coast seafood industry serve as a case in point.
Our team would benchmark progress in both qualitative and quantitative terms.
On the metrics side, our approach includes the documentation of perceptions and measureable events.
- Catalogue issues relevant to any criticisms or public perceptions
- Includes substantial stakeholder involvement – stakeholders’ both internal to the company or external observers or critics.
- The metrics would quantify both the interests of the business and the stakeholder concerns.
- Define which metrics to use. For example, internationally accepted standards, such as GRI, industry specific standards, or an approach tht assess stakeholder sentiment and perception of progress, or not.
- Measure progress to previous benchmarks set, and assist with decision making for next steps
- Timely reports.
On the perception and qualitative side, our approach is to use the stakeholder model, and document through interviews the perception by both managers and any external critics their respective views on the subject in question.