Goal Setting for Efficient, Cross-Functional Work - Performance Management Exchange
Goal setting is a process to structure and enable organizational, team, and individual performance. However, it is often the forgotten component of performance. Furthermore, the rigor of goal setting varies; it is difficult to balance the need for an efficient yet comprehensive approach. We need to create simple, shared goals to unite people, teams, and organizations?
Exchange members shared their experiences with goal setting, including their current strategy and communications approach, how they have simplified the process, and barriers that stand in the way.
Featuring: Rachel Levy, Director, Organizational Effectiveness, Bristol-Myers Squibb Company
4 things we explored.
Stakeholder analysis and interdependencies for goals. Breaking down silos can be achieved through goal setting by establishing common objectives that require cross-functional collaboration. Conduct a stakeholder analysis and identify if the common objectives require low, mid, or high interdependency. When setting goals, consider templates to visually demonstrate how the goals align.
Make goals attainable. While some stretch goals can be valuable, attainable goals are more likely to be achieved within the desired timeframe, leading to a greater sense of progress and success. They also provide a sense of accomplishment, boost motivation, and help individuals and organizations build momentum towards achieving more challenging goals in the future.
It’s a collaborative, iterative process. Goal setting is a collaborative process that requires input and effort from both managers and employees to be effective. Regularly review and adjust goals based on changing circumstances or feedback. This allows for flexibility and ensures that goals remain relevant and achievable. Many organizations encourage a quarterly conversation, but do not require it to be documented.
Communication is key. Consider creating communication templates for leaders to send out immediately after they share their function or team’s goals so it’s a business-driven initiative instead of an HR initiative. There may be other avenues, such as Town Halls, to share the process and reiterate the need to revisit and adjust goals over time.
Examples shared by members.
- Performance Process and Using Goals to Break Down Silos. Review one organization’s process to help every Employee perform at their best every day and achieve their aspirations.
- Goal Setting. Review one organization’s steps to help employees create attainable goals.
- Goals at Target. Review Target’s step-by-step guide to writing goals.
- Continuous Performance Management, Goals and Competency Worksheet at Byline Bank. Review Byline Bank’s quick tip guide for the performance management process, and the goals and competency worksheet to support the process.
Download the deck to access the examples.
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