March 29, 2007
Best Practices, LLC Launches Cross-Industry Budget and Staffing
Benchmark Guide For 2006
Benchmarking guide critically assesses the efficiency of key business functions
CHAPEL HILL, N.C. – March 29, 2007 – To ensure organizational health and competitiveness, companies must constantly optimize operational resource levels. Sometimes, companies must grow resources; at other times, resources must be defended or shrunk.
Best Practices LLC’s “Budget & Staffing Excellence 2005 – 2006: Benchmarking the Resources Required to Drive Productivity and Growth” (available online at http://www.best-in-class.com/rr645.htm) allows executives to critically assess the efficiency of key business functions: Marketing, E-Business, Federal and State Government Affairs and Corporate and Executive Communications.
Seventy-two leading companies participated in at least one module of this budget and staffing data compilation that provides successful managers and executives timely and accurate information to measure headcount and reallocate resources as needed to support these critical business functions.
Among the areas examined in these critical business functions are:
· Overall Staffing Levels in Marketing Groups by Activities
· Outsourcing Levels
· Staffing Levels Linked to Budget
· Staffing Levels Linked to Total Employees
· Staffing Levels Linked to Sales Revenues.
In marketing operations (marketing analytics, business planning, training and development, contract management, market research, strategic pricing, meeting planning, creative media services, e-business, sales administration field communications and promotional services), 57 percent of companies use less than 25 percent of budget on outsourcing market tasks.
Across the benchmark class, budget per marketing FTE averages $293,400 for marketing strategy and planning, marketing operations and communications, and market research.
View more detailed information on “Budget & Staffing Excellence 2005 – 2006: Benchmarking the Resources Required to Drive Productivity and Growth,” including additional sample metrics and key findings, at http://www.best-in-class.com/rr645.htm.
Companies profiled in the study include: 3M; Experian; Novo Nordisk; Abbott Labs; NT Services; AIM Investments; FedEx; Plymouth Rock Assurance Corp.; ALTANA Pharma; Ford; American Fidelity Assurance; Fujifilm Sericol USA Inc; Principal Financial Group; Amylin Pharmaceuticals; Genentech; Prosperity Mortgage; Aurora Health Care; Gerdau Ameristeel; AXA Financial; GSK; Rolls-Royce Defence Aerospace; BAE Systems; Hewlett-Packard; Baxter International; Bayer HealthCare; IBM; Solar Turbines; BB&T; and Intel. (Note: not all companies participated in all study modules.)
ABOUT BEST PRACTICES, LLC is a research and consulting firm that works on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class organizations. Our suite of customized Research and Consulting services is designed to assist you in improving your company's performance by analyzing the winning practices of leading corporations.