Your organization’s greatest asset is its employees, who make up the mindshare, and knowledge base to serve your current and future customers. But how do you measure that asset?
Setting and achieving goals can be a difficult task for anyone, even the most successful leaders. Using the Objectives and Key Results (OKRs) method makes achieving goals possible, helps keep the team on track, and ensures conversations and adjustments are effectively made throughout the pursuit of the goal. Top companies such as Google, Facebook, Twitter, LinkedIn, and Uber use OKRs. This method consists of two aspects of a goal: objectives and key results.
According to Gallup’s 2018 survey, 53% of workers would place themselves in the "not engaged" category, meaning they may be generally satisfied but are not cognitively and emotionally connected to their work and workplace. While these employees may still be executing their duties, they’re likely not performing to the best of their ability and certainly not making a significant contribution to the purpose and culture of the organization.
“When you look at people who are successful, you will find that they aren't the people who are motivated, but have consistency in their motivation.”
— Arsene Wenger
Earlier this year, The Golden State Warriors head coach, Steve Kerr, became one of the only coaches in the National Basketball Association (NBA) history to coach 5 All-Stars from the previous season, during a professional basketball game. However, even with those 5 All-Stars playing consistently every game for the past month and a half, the two-time defending NBA champions are struggling, and Steve Kerr is concerned about his team heading into the playoffs next month.
“Life is Difficult.” proclaimed best selling author, Scott Peck, in the opening line of his book, The Road Less Traveled. This concise statement, sums up the great journey of life, with simplicity and truth. In fact, any worthy journey is filled with setbacks, challenges, questions and doubts — particularly if you have a specific destination in mind. The great opportunity we have in this human experience is to confront these challenges with an authentic investigation of our ability to press on toward the prize, and our energy to continue on in the pursuit of our desired destination.
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.