Goal Setting Best Practices
 

Each year business leaders engage in a disciplined goal setting process to align team and individual goals with the broader organizational mission and strategy. Typically, the goal setting process includes the following elements:

GOALS: Statements of what the organization (the corporation) or sub-unit (a function or department) wishes to do. These goals are the intended outcomes that either an individual or team wishes to accomplish.

STRATEGY: Statement specifying a method or approach to accomplish a goal.

TACTICS: Specific action steps required to achieve a goal.

METRICS: Measurable criteria to indicate if and how well the objective was achieved.

ALIGNMENT: Statements regarding how achieving the goal impacts other functions/groups.

Below, please find a few best practices to leverage when working with your team to set 2011 goals and objectives.

1. Reflect upon last year's goals to determine if desired results were achieved. 

• Evaluate the current business environment and potential trends to update those goals and the optimal strategy to achieve them.
• Identify lessons learned by team members from goal setting and subsequent planning efforts.
• Explore any obstacles encountered last year and identify what can proactively be put in place to improve the achievement of newly stated goals.
• Discuss with your team how planning efforts supported goal achievement in the past and determine how the plan need to be developed, monitored, and revised going forward.  

2. Take the time now to clarify, review, and communicate the goal setting process. 

• Clarify expectations and guiding principles related to goal setting.
• Share how effective goal setting creates better alignment with corporate strategy.
• Communicate timing and review processes, specifically, how goals will be monitored and recalibrated.
• Define SMART Goals - Specific, Measurable, Aligned and Actionable, Realistic, and Timebound.
• Design uniform, user-friendly templates to capture and track individual goals and plans.  

3. Involve the team throughout the goal setting process. 

• Ensure team members have an opportunity to establish goals.
• Build consensus on priorities and the rationale for their selection.
• Establish and share action plans.
• Seek buy-in and commitment.
• Help translate broader team goals into individual performance goals.  

Developing and implementing a consistent Goal Setting Process:

• Ensures alignment with broader company strategic direction and objectives.
• Pushes accountability down throughout the organization.
• Positions goal setting as an important activity and pre-requisite to effective planning and execution.
• Increases the sharing and leveraging of lessons learned across the organization.
• Keeps the team and individuals focused on weekly and monthly priorities needed to drive results.
• Motivates individuals and teams to reach high levels of excellence.

For more information on how WLH Consulting, Inc. can help you develop or implement a goal setting process through customizing work for your particular organization, please contact wendy@wlhconsulting.com, or call (954) 385-0770. Additionally, WLH Consulting, Inc. can work with you to develop the appropriate cascade and supporting tools to drive desired results.