JVFG Benchmarking
Tracking and measuring field and business performance -benchmarking – has become key to the success of JVFG and member businesses.
Back in 2004 foundation members decided to annually analyse and compare labour and machinery costs both in physical and financial terms and then to share the results with JVFG members. The average business size is 1,600 hectares of predominantly cereal production with some roots.
Benchmarking as a tool
Through JVFG we provide management information through the year and a bespoke report ‘Traffic Light’. Not only does the information help to manage costs but it boosts management confidence and effectiveness.
Jamie Gwatkin shares lessons from benchmarking JVFG member businesses.
Our updates also inform and steer policies on, for example, machinery purchasing. The JVFG meetings, farm visits and exchanges become a forum for adopting new ideas and discussions that challenge each other on the best ways to progress.
More than just numbers
Having information and targets and plans of how to progress improve financial performance. However JVFG sees personal and professional performance improvements as well: a productive and high-performing business is a positive place to work.