In any company, goal setting and strategic outlining are important. The traditional path of goal-setting and management is a top-down approach in which company goals are established and carried out by hierarchy. Findings from this type of management reveal that:
“Only 31.5% of workers are engaged at work.”
“Only 46% of companies review of revise goals throughout the year.”
“Only 1/2 of middle managers can name even one of their company’s top priorities.”
In newer models of management, more people are responsible for the goal-setting and goal-achievement process.
Effective goal setting goes far beyond practicing SMART goals. It involves setting transparent goals by:
- Aligning team goals which is coordinating efforts across teams.
- Co-creating goals with employees which involves engaging in dynamic conversation.
- Maintaining focus by measuring progress.
- Establishing milestones for success by analyzing progress on a daily basis.
- Motivating and rewarding employee success to encourage future achievement.