New initiative creates sector-wide benchmarking tool

Seven universities have collaborated with HES to develop the concept of a sector-owned and operated benchmarking solution.

In late 2019, the HES team together with Australian Catholic University, the University of Sydney, Australia National University, Federation University, Victoria University, the University of Newcastle and Macquarie University formed a pilot study for the proposed new benchmarking service. The very successful pilot, operating under an agreed cost allocation methodology, focused on collecting data relating to the cost of services with a view to establishing benchmarks for financial efficiency.

Benchmarking efforts in the higher education sector have often failed to impress. In part, this is due to benchmarking models not being developed, understood and agreed upon by all the sector members. This Benchmark product seeks to address this and provide a standard of benchmarking that has not been seen in higher education previously. More than that, the new Benchmark product also seeks to ensure the data remains under the control and ownership of the sector.