Benchmarking as a mechanism for enhancing the human capital performance of higher education institutions

In an increasingly knowledge-based economy, higher education institutions (HEIs) play a vital role in generating and disseminating intellectual capital. However, many European HEIs continue to exhibit low levels of innovativeness, weak connections with the business sector, and insufficient strategic management of human resources. This paper examines benchmarking as a managerial mechanism for improving the human capital performance of HEIs within the broader framework of intellectual capital management. Drawing on the concept of the Intellectual Capital Report, the study identifies dimensions of human capital performance, each represented by specific measurable indicators. Using a benchmarking analysis of human capital performance across selected HEIs in Serbia, Montenegro, Croatia, and Slovenia, the paper compares outcomes to determine best practices and performance gaps. The results reveal significant interinstitutional differences in academic productivity, staff structure, and international openness, highlighting areas where managerial interventions are needed to achieve benchmark performance. The findings underscore the importance of benchmarking not only as a comparative tool but also as a continuous learning and improvement process that supports evidence-based decision-making, enhances transparency, and fosters the development of innovative, entrepreneurial academic environments.