6 July 2001
Title FirstName Surname
Organisation
Address
Address
CITY STATE POSTCODE
Dear Title Name,
PROFIT BY COMPARISON
ACPET/HALL CHADWICK
PERFORMANCE MEASURES IN PRIVATE EDUCATION AND TRAINING
SURVEY
In an environment of increasing competition, the ability to search for and introduce
national and international best practice makes benchmarking one of the most powerful
tools available to business managers today.
Benchmarking is an internationally recognised process that involves collecting data on a
confidential basis from participants in particular industries. This data is summarised
into knowledge that can be applied by individual businesses to assess performance,
diagnose problems and set business goals.
ACPET and Hall Chadwick Chartered Accountants and Business Advisers, assisted
through a grant from the Australian National Training Authority (ANTA), is
implementing a benchmarking system for the Private Education and Training sector.
Who is Hall Chadwick?
Hall Chadwick is a national association of independent chartered accountancy firms,
which has been providing services to Australian businesses for over 112 years. Their
ability to understand clients and their requirements is crucial to providing the
efficient, effective, and courteous service that Hall Chadwick prides itself on.
The specialist Education Sector Consulting Division of Hall Chadwick is working
with a committee of ACPET members, including our National Executive Officer –
Tim Smith, to focuses the firm’s wealth of knowledge in the education sector,
benchmarking and business management to develop this unique performance
measurement tool for our industry.
The ACPET/Hall Chadwick Performance Measurement Survey is one of a number of
benchmarking programs conducted by Hall Chadwick. Other benchmarking projects
include the largest Independent Schools’ Financial Performance Survey in Australia,
the financial performance of all members of a state TAFE system and a unique
program for the Independent Grocers of Australia.
What is Benchmarking?
Benchmarking, in its simplest definition, is the process of learning by making comparisons.
Benchmarking involves collecting information on a confidential basis from a large number of
businesses in our industry to identify “benchmarks” of optimal performance.
You can compare your performance against these benchmarks to quickly identify aspects of
your business in which you are doing well, together with areas that may need some
improvement.
The benchmarks provide good business targets, by showing you what’s possible rather than
you just comparing your own performance against last year’s.
The Benchmarking Process
Benchmarking involves a number of stages. Data is first collected from ACPET members
across the country. A number of important indicators (“benchmarks”) are then calculated
from the information collected.
Hall Chadwick will compare these “benchmarks” against your results and provide you with a
“plain English” report explaining where you are doing well and identifying areas of your
business that you should target for improvement.
Data is collected from you
using the Performance
Measures in Private
Education and Training
Survey Form.
Data is collected from all
other participants using the
same survey form
This confidential Data is
recorded by Hall
Chadwick in the
benchmarking database
Key Performance Indicators
are calculated for your
business based on your
survey responses
“Benchmark” Key
Performance Indicators are
calculated from the
benchmarking database
Participants will
not be identified
Your own private report is compiled
comparing your Key Performance
Indicators with the benchmark Key
Performance Indicators.
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What do you get out of Benchmarking?
A “plain English” report will compare your results to benchmarks calculated from a number
of similar training providers across Australia.
Although the report includes over 60 crucial benchmarks, through a consultative process with
a special Reference Committee comprised of ACPET members, Hall Chadwick has identified
9 key performance indicators (KPIs). Your report will analyse your performance on those 9
KPIs. The analysis includes graphs, which show your result relative to other similar
providers. For confidentiality purposes however, you will not be able to individually identify
other providers from the report.
The report will allow you to quickly assess important issues such as Cash Flow Management;
Asset Position and Sustainability; Debt Position; Revenue Sources and Collection; Salary,
Marketing and Overhead Expenditure; Staffing; Profitability and Output Delivery data.
Other benefits of Benchmarking
The importance of benchmarking does not stop at individual provider level.
At all times, your individual data will be retained by Hall Chadwick and not disclosed to
ACPET, ANTA or any other party. For the first time however, our industry will have data
available for ACPET to rely upon when representing the industry on your behalf.
An industry-wide report will be prepared by Hall Chadwick and made available for general
member access. This report will also be provided to ANTA, demonstrating the performance
and contribution made by our sector to the national vocational education and training market.
Again, no individual provider will be identifiable in this report.
How much does it cost?
FREE !!! This benchmarking program is being offered as a free service this year because it
has been totally funded by ANTA. This is the first major research funding that ACPET has
received from government and hence it is vital that we have a strong response.
Please participate
Your participation will ensure that the benefits of the Survey are available to your business
and that knowledge of the sector is enhanced to the benefit of all members. The higher the
participation rate, the more beneficial and accurate the benchmark figures obtained.
To participate, simply complete the survey form by 31 July 2001, either on the enclosed paper
version or via the electronic version that you should have received by email this week
I strongly recommend this survey to you and hope you will participate.
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ACPET 2001 National Conference
By now you would have received an invitation to attend the national ACPET conference to be
held from Thursday 23 August to Sunday 26 August 2001 at the Surfers Paradise Marriott
Resort.
This conference is an excellent opportunity for you to directly participate in the many issues
that are of immediate importance to our industry.
The first report on preliminary findings from the performance measurement survey will be
given at this year’s National ACPET Conference, immediately after the federal Minister, The
Hon. Dr David Kemp. Your participation in the survey is therefore vital in order for us to put
our best case forward as an important education sector that must be taken seriously by
government.
So, don’t miss the unique opportunities to be involved in the performance measurement
survey and also to attend our national conference. If you have not received a brochure on the
conference schedule, please contact the conference secretariat – Jane Yeaman, Tulips Meeting
Management on (02) 4984 2554 or email tulips@pco.com.au.
More Information
For more information about the survey, please contact our National Executive Officer, Tim
Smith on (02) 9299 4555 or email smithtim@acpet.edu.au or John Somerset, Partner, Hall
Chadwick Chartered Accountants and Business Advisers on (07) 3233 3538 or email
hcedu@hcqld.hallchadwick.com.au.
Yours sincerely
AUSTRALIAN COUNCIL FOR
PRIVATE EDUCATION AND TRAINING
MARK LUCAS
NATIONAL CHAIR
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