Your organization’s greatest asset is its employees, who make up the mindshare and knowledge base to serve your paying customers. But how do you measure that asset? Employee engagement surveys and Glassdoor reviews are a good start, are they really clear indicators on how your greatest asset is being leveraged? To make the most out of the investment in your people, you need an objective line of site on their performance. Effective goal setting at every level of an organization is one of the most important motivators and means of evaluating your people’s contribution to the mission and purpose of the organization.
Corporate goals are different than individual or team goals, but they are a critical resource to close the gap between large organizational strategies and effective execution of those strategies. But corporate goals are more than just generating revenue or cost savings. Corporate goals should address common objectives of customer satisfaction, stockholder value, increasing the overall value of the organization, and other objective details that demonstrate real business results. Defining larger corporate goals correctly creates the framework in which your business can get to the next level within the market you live in.
Different types of goals help your company achieve different levels of success. Goal setting isn’t a one-size-fits-all approach. Goals depend on the context of the business initiative you’re trying to achieve. While all goals should have time elements, some will take longer than others to pursue. Great organizations encourage leaders at all levels of an organization to set long-term, agile, and performance-focused goals to improve efficiency, engagement, and bottom line business results.
Companies thrive when the organization sets goals for its bottom line and aligns those to its employees. While setting organizational goals is crucial for companies, most companies don’t. In fact, in a study conducted for companies, over 80% of the participants stated they have not set organizational goals because they didn't believe it to be an important task. If this sounds like your company, below are four principles to live by, especially if you want lower turnover, a better ROI on your talent and streamlined operations.
With great power comes great responsibility. No one feels this more than an outstanding leader. Pacesetting leaders are constantly looking for better ways to lead the people they work with. One of the best ways to become a great leader, and get even more from the people you’re leading, is to figure out what kind of goals you want to set.
Employee management is complicated, and leaders of all levels are constantly in search of the “secret ingredient” to just about every part of the process. Unfortunately, the answer changes depending who you ask, and while there are more than a few important parts to building a successful talent management strategy, everything boils down to retention.