Joining or starting a benchmarking group is a great way to improve the relevance of benchmarks. Comparison to farms in the same geographic area allows more of the noise generated by variation in rainfall, soil types and enterprises to be removed.
Benchmarks for whole farm and individual enterprise performance are presented as comparisons with the other group members.
How do benchmarking groups work?
Each benchmarking group tends to take on a format that best suits the group but the following list provides some key features of benchmarking groups.
- There are between 12 and 15 participants per group
- Group meet 3 times per year
- Group meeting topics vary from discussion of methodology, discussion of group benchmarking data, to presentation on key technical and management issues
- Groups operate in either a confidential format with no disclosure of which numbers belong to which group member or an open book format with full disclosure
- Increased relevance of key benchmarks
- Insight into variation in performance within a specific geographic region
- Option to discuss variation in performance with specific managers
The price for group participation varies according to the number of participants, meetings and disbursements. A final group costing proposal is presented to the group prior to commencement.
(please download the input form to your computer to begin your benchmarking input)