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The phrase 'key benchmark' is correct and usable in written English.
You can use it to describe a measure or point of reference used for comparison or evaluation. For example, "The new policy has been an important key benchmark in the company's development."
Exact(60)
It's like a pretty key benchmark.
EPS is a key benchmark for an executive's performance-based pay – particularly in LTI programs.
However, it has been heavily scrutinised following scandals related to Libor, another key benchmark.
The troubles center on a key benchmark known as the London interbank offered rate, or Libor.
The fines are the latest to be levied on banks and financial firms for manipulating key benchmark rates.
The rate, a key benchmark for short-term borrowing costs in the economy, is now 4percentt.
The bank's investigation showed that its wrongdoing is mainly centered on another key benchmark, the Tokyo interbank offered rate.
President Bush set enactment of a national oil law that centralizes development and ensures an equitable division of the profits as a key benchmark of progress.
An announcement from RBS is expected in the coming weeks, as it settles with UK and overseas regulators on the manipulation of the key benchmark interest rate.
Repeatedly re-endorsed at international summits since the 1970s, "0.7" has become a key benchmark by which the generosity of donor countries is measured.
At the time, Ms. Billet was just short of 20 years of service in state government, a key benchmark in determining pension and other retirement benefits.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com