In an embodiment, a processor includes a plurality of processing engines (PEs) to execute threads, and a guide unit. The guide unit is to: monitor execution characteristics of the plurality of PEs and the threads; generate a plurality of PE rankings, each PE ranking including the plurality of PEs in a particular order; and store the plurality of PE rankings in a memory to be provided to a scheduler, the scheduler to schedule the threads on the plurality of PEs using the plurality of PE rankings. Other embodiments are described and claimed.