In order to get the best outcome in any relationship, it is important that both parties are clear about the expectations from each other.
The same principle applies in an employer -employee relationship whereby setting objectives or goals at the beginning of the year ensures that the entire team are on the ‘same page’ in terms of what the organisation is aiming to achieve in that given year.
Equally important is the process of systematically and consistently reviewing progress against goals or objectives. This allows both, the employer and the employee to course correct through the year, should it be required.
In this blog, we share 4 key aspects to keep in mind while creating annual goals. These goals can be set by the line manager, employer or even through external HR Companies in Dubai.
1. Achieve A Balance Between The Objectives of The Company and The Employees
A useful practice to gain employee commitment to the goals and/or the process is to encourage them to discuss and include some of their personal goals in the process. Perhaps there is a skill that they may want to develop that can fulfill a certain gap for the organisation. Having these open conversations, particularly during end of year reviews is a great way to initiate the conversation and understand how their interests might fit into the workplace.
2. Explore New Possibilities
Another way to create meaningful goals is to help employees reflect on the previous year and discuss what could have been done differently.
For instance, if they did not hit their sales targets, perhaps a formal sales training can help them enhance those skills in the current year. In return, employers can increase annual sales targets to encourage them to practice their newly acquired skills. This will bring in new opportunities, increase visibility and help form new relationships that have the potential to advance in their careers.
3. Collaboration With Other Departments
It is always a useful tactic to encourage collaboration between 2 departments on interdependent goals so as to encourage a sense of overall camaraderie while ensuring the team meets the bottom line.
This will bring in new opportunities, increase visibility and help form new relationships that have the potential to advance in their careers.
4. Set Key Milestones
It is advantageous to identify key milestones while creating goals or objectives. This allows employees to set stretch goals while not being overwhelmed with the enormity of the ‘final’ goal.
For instance, should you wish to double your new clients in a year, break it down into number of new clients per month. 5 new clients per month can be digested as a more achievable goal than 60 new clients in one year.
This way, even if they fall short of meeting a goal 100%, they are able to acknowledge the achievement of key milestones while striving to also achieve the end goal.
5. Progress, not Perfection
Although in an ideal world, it would be perfect if goals can be 100% achieved. However, sometimes this may not always be the case. Therefore, consider your approach if employees achieve 80% to 90% of the goal, presuming they have done everything in their power to hit the goal a 100%.
If you want to retain employees long term, create ‘stretch-goals’ and leave room to reward achievement of goal up to 80 or 90%.
Conclusion
If you are a small business and need help with creating and rewarding a performance culture, reach out to us and we can help you curate this for your business.
Book a FREE Discovery call and let’s talk about how we can help you become an employer of choice.