On January 12, 2021, Logos Advisor and Chief of Client Services Maida K. Zheng was quoted in an article on the importance of benchmarking in business operations in Business News Daily. The article describes the importance of different types of benchmarking for organizations across industries. Zheng noted the importance of competitive benchmarking, or setting goals based on what competitors are doing, for both internal and external decision-making.
“If you want to stay ahead of the competition and create the most desirable work environment for your employees, understanding what your competitors are doing is not only common sense, but imperative,” said Zheng. “Employees will know they should stay with a company if they have an opportunity for growth — monetary and skill — and they know their employer is keeping up or staying ahead of competition.”