When preparing for negotiations, it is so important to arm your side with as much information as possible. Benchmarking is so important and valuable! Why?
- Provides an opportunity to measure how a CBA stacks up against the industry prior to sitting down at the table
- Prepares the company to be ready to improve areas where the CBA lags behind … and to stand firm in areas where the CBA meets or exceeds the industry
- Allows the company to better predict potential changes in pay, work rules or benefits
- Gives the company hard data points to use in drafting and reviewing proposals
- Results in better forecasting of future costs based on proposed changes
- Arms negotiators at the table with facts and figures when presenting proposals in order to justify their position … and to counter union proposals and/or claims when necessary instead of having to research on the fly
*Note: Carefully choose the comparators used in benchmarking and be ready to defend those choices