For a multiprocessor VM, when CPU %ready is more than 5% then it is an indication of CPU contention. Below is link to a relatively basic but very informative article regarding CPU Contention in a VMware Virtual Environment:
http://www.virtualizationpractice.com/cpu-contention-in-a-vmware-virtual-environment-5489/
Foglight (with VMWare cart)/FVE provides:
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