Over the past several months, the VMS board of directors has been guiding VMS Inc. executive leadership through “benchmarking,” a process that compares an organization, its operations and/or processes with others in the same industry or in the broader marketplace. Benchmarking helps companies generate ideas for improving processes, approaches and technologies to reduce costs, strengthen customer satisfaction and provide a blueprint for continuous improvement.
After significant research and several reviews, the VMS Benchmarking Report – September 2024 is available to Laguna Woods Village members. The report aims to guide VMS’ efforts in improving performance, practices and strategic planning, and provide members with a greater understanding of VMS services and how its costs compare with similar organizations.
Report Research and Comparisons
The report compares services and costs of VMS Inc.’s nine departments with services provided by for-profit companies, government entities and age-restricted sister communities such as Leisure World Seal Beach and Rossmoor Walnut Creek. VMS staff research included budget and website reviews, interviews, quotes, service levels, requests for proposals and labor costs.
What the Results Say
The VMS Benchmarking Report – September 2024 highlights that services delivered by VMS are delivered at a lower cost than comparable organizations; greater service levels are commensurate with greater costs where applicable.
Research showed that as a self-managed, member-owned, not-for-profit company, VMS holds distinct advantages over the entities analyzed, including cost control, service levels and economies of scale. Other advantages include member engagement, flexibility and responsiveness to member needs, and members’ ability to prioritize transparency and accountability.
Read the Full Report Here
If you seek to broaden your knowledge of VMS Inc.-provided services and see how the company stacks up against similar organizations, click aquí to view and/or download the complete VMS Benchmarking Report – September 2024. The report is also located at lagunawoodsvillage.com > Documents > VMS.
Further details and synopses of the report can be found in the VMS board section of upcoming editions of the Village Breeze magazine.
To discover more Village news, click on the tag “What’s Up in the Village” below.
