With the beginning of each new year, it is an opportunity to re-visit the company, divisional, departmental & individual objectives that had previously been established. Hopefully, these objectives were set in the latter part of the prior year.
Without doing a re-visit, you increase the risk that this critical step in the organizational planning and performance management processes may lead to outcomes less than or different than you had planned.
Set let’s review what you will want to ensure:
1. The objectives are specific and include a measurement (or set of measurements) defining what is to be achieved. This should include what level of success is associated with different outcomes.
- A simple way to do this is to assign three success levels (& associated reward levels), such as:
(1) Maximum
(2) Moderate/Medium
(3) Minimum
2. You have established achievable objectives, which means they:
- Are those that someone or a team can realistically accomplish within the time frame that is set
- Need to challenge (thus, the term “stretch goals”)–but not so difficult so as to be unattainable or to cause frustration in being unable to be achieved
3. The objectives are realistic, which means they take into account the resources needed to accomplish them, including:
- Staff
- Skill Set
- Supervisory support, including coaching in the form guidance & direction
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4. The objectives have a time frame, which:
- Should take into account unanticipated activities or shifting of priorities
- Can easily be connected to the specific measurement of success when the completion date has some flexibility.
- For example, if completed by March 1 = maximum; by March 15 = moderate or medium; by March 31 = minimum.
In conclusion, re-visit your objectives to verify that they are “SMART” objectives:
S Specific
M Measurable
A Achievable
R Realistic
T Time-oriented