Do you know how your business compares to businesses in the same industry or same region?
Knowing how well your business is doing in comparison to others is a great way to see whether what you are doing is better or worse than the competition.
Today we are excited to announce new benchmarking functionality in Handle.
What is benchmarking?
Benchmarking allows you to choose who you want your business to be compared against. You can select other businesses in the same industry as you, businesses in the same region or all Handle users.
Depending on the benchmark you choose, we will update all of your report and metric scores in to those new average scores. You will be able to see exactly which of your measures are exceeding of falling behind your competitors or other businesses around you.
Choosing your benchmarkingTo set your benchmark all you need to do is log in to your Handle account, go to the menu icon in the top right corner and click ‘My Account’. Once you’re in my account click the ‘My Reports’ tab and scroll to the bottom of the page where you’ll find your benchmarking options. Click 'update', choose which benchmark you want to see click 'Set your benchmark' and all your score comparisons will be updated. And there you go! You’re all set up to start benchmarking your business and you can change and update this as many times as you like.
How the industry benchmark is calculatedThe industry benchmark is derived from your industry SIC code from Companies House. We gathered this information when you signed up to Handle and you can see the Industry that your business is classified in by going to My Account > My details tab > Business information box. For non-limited businesses who don't have an SIC code unfortunately we can't provide benchmarking by industry. If you are a non-limited business owner and want to share your industry information with us then drop us an email firstname.lastname@example.org.
How the regional benchmark is calculated
The regional benchmark is calculated by using postcodes near your trading address. We use the trading address as stated at companies house or if you’re a non-limited business then the trading address you provided when you signed up to Handle. The trading address we have for your business can be found in My account > My details tab > Contact details box. If you have any questions about benchmarking or Handle in general, then let us know email@example.com.