A benchmarking system can be a useful way of comparing performance, provided you are clear about the comparisons being made. For example, comparing accident statistics of a bank with those of a steel works will probably not be very useful, whereas comparing appraisal systems might.
Several different benchmarking systems are summarised on the EEF website.
KPIs
To be of value, a benchmarking system needs to compare key performance indicators (KPIs) which are relevant to all who use it. It also helps if there is an arrangement for easy correspondence with other respondents so you can learn how certain figures have been achieved and, where applicable, change your methods accordingly.
EEF has developed a benchmarking tool specifically for engineering and manufacturing companies, which includes indicators on accidents and ill- health, long-term and short-term absence and rehabilitation.