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As the corporate-governance experts Charles Elson and Craig Ferrere write in a recent paper, boards at most companies use what's called "peer benchmarking".
As for peer benchmarking, corporate directors need look no further than upscale retailer Nordstrom to see how it's done right.
Such figures suggest that the prevalence of peer benchmarking, as outlined in a recent Washington Post article, may play an important role in the United States' ever-widening wealth gap.
That's because of a practice known as "peer benchmarking" -- a widely used method wherein corporations set pay for their executives at or above the median level of, well, other executives.
At the same time that wages for most workers have hardly grown, corporate profits reached record levels this year, and companies have continued to engage in what is known as "peer benchmarking" -- a competitive practice of paying their executives more and more in order to keep pace with other companies doing the same thing.
1 Only one study had investigated the impact of peer benchmarking of PROMs data.
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Surgeons had differing opinions on the value of peer benchmarked PROMs data.
This is the first randomised controlled trial to examine the impact of providing surgeons with peer benchmarked PROMs feedback.
To test whether providing surgeons with peer benchmarked feedback about patient-reported outcomes is effective in improving patient outcomes.
One way to do this would be to provide individualised, peer benchmarked feedback to consultant surgeons with educational materials to guide their interpretation of the data.
Outcomes for patients operated on by surgeons who had received peer benchmarked PROMs data were not statistically different from the outcomes of patients operated on by surgeons who did not receive feedback.
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