Over the last few weeks, there has been a lot of discussion, development and maturation of goal management at Nortek Solutions. We have firmly established the pillars of Goal Management around the theory of Management by Objectives (MBO). MBO is a process of defining objectives within an organization so that management and employees alike are engaged in setting specific objectives aligned with the organization’s goals. This approach encourages participation at all levels of the organization as everyone is directly involved at a level that relates to their position. MBO stimulates communication and transparency across the organization while maintaining clarity at all levels. Your specific objectives may change over time depending on your position, but you are always able to see how achieving those objectives will contribute to the progress of the organization.

SMART Goals & Objectives

The CEO of ABC Company may set Increase Productivity as a key organizational goal. At a high level, this goal will correlate with organizational success, but how exactly can an organization increase their productivity? The answer lies in each business unit setting SMART objectives that are aligned with the larger organizational goal. SMART is an acronym for the five key components of a great objective. It’s the collection and measurement of these objectives that will achieve broader organizational goals.

Specific

The What/Why/Where/Who part of the SMART equation. The Sales Manager at ABC Company might have a specific objective of Increase Department Sales by 10% to contribute to the Increase Productivity organizational goal.

Measurable

Just like the saying “If you can’t measure it, you can’t manage it”, setting measurable criteria for your objectives will help monitor progress. Measurable objectives make for excellent key performance indicators that allow you to visually track your progress through graphs and charts.

Attainable

Setting attainable objectives is another key factor in achieving organizational goals. Your objectives have to be reasonable with respect to your position. For the HR Manager at ABC Company Reduce turnover 30% would be an attainable objective, whereas Reduce turnover 100% would not be realistic as there will always be people leaving an organization for one reason or another.

Relevant

Does your objective align with a specific company goal? If an ABC Company employee has an objective to Complete WHMIS training, it doesn’t really apply to the organizational goal of Increase Productivity. A training objective would be more relevant to the individual’s career development (and that’s for another article altogether).

Timely

Setting a target date to achieve your objectives will establish a sense of urgency. This will help prevent objectives from being overlooked in favour of achieving short-term day-to-day tasks.

Curos Goal Management

So how can Nortek's Goal Management help your organization? We have established a best-practices based facility that captures your organization’s goals and supports your managers and employees as they develop and plan departmental and individual objectives. From the top-down, Nortek's Goal Management will allow all levels of the organization to monitor the progress of the individuals that report to them. From the bottom-up, employees will be kept informed of the progress of their objectives and be able to see how they directly impact the organization’s key goals. Goal Management is also interwoven with Performance Management and Career Development… stay tuned for more information!

This article was originally posted on Nortek Solutions Blog. Check out our website for more information!