An employee, team, function and enterprise works best when he/she knows on what he has to do, what will be the success criteria and what are the priorities, and above all how he will build further skills & knowledge to "make it happen"?

Topics in Goal-Sheet : -

Initiatives- interim milestones

Initiatives are, at the end of the day, a kind of goal themselves and hence must be treated so in their execution too. When it comes to setting up interim milestones in assessing the progress, initiatives should be treated at par with goals. This is a planned and systematic approach towards initiatives which is very much required in order to increase the chances of successful delivery.

Mix of Quantitative & Qualitative Success Criteria

Even though the unit may be totally number driven, the quality aspect is inherent in all activities and cannot be ignored. Thus, goals are defined in a manner that the qualitative aspects are incorporated already into the overall scheme.

Weight ages to Goals

Weights represent the relative importance of various goals in the overall portfolio of the employee. Depending upon the relative importance, different weights can be assigned to different goals and the overall performance is assessed in a weighted average model.

Monthly-Quarterly break-down of lagging indicators

Besides defining an annual target, it is important to devise and define quarterly and monthly targets which are in turn derived from the annual targets. This is a systematic approach which allows for constant assessment and an advance warning system.

Expectations from Partners

In order to be truly effective and relevant in the performance delivery, the employee must take into account the needs and desires expressed by the key business partners. The whole organization is inter-connected in it’s operations, and in order to avoid to-and-fro later on, it is important to align the goals with the partners’ expectations.

Key Actions to Take

After every planning exercise, there emerge few actions steps which are of the top most priority. These are called the Key Actions and they must be executed first. Although they are the logical outcome of the exercise, the real challenge lies in making every employee go through the process.

Performance Scorecard Aligned to goal-sheet

Performance score-card must mirror the goal-sheet and for obvious reasons. It is an assessment tool for measuring performance to achieve the goals as defined in the goal sheet. Both reinforce the buy-in of each other.

View & Inputs of Internal Customers in Goal-Sheet

All stakeholders and internal customers must have a say in the finalization of the goal-sheet of the employee. This is important since the achievement of the defined goals will then form inputs for the said internal customers.

Raising the Bar Approach

Raising the threshold target every year for the employee not only keeps pace with the increased effectiveness of the employee, but also keeps him/her engaged. It motivates the employee to constantly seek learning and development and hone his/her skills continuously.

Guidance to Number & Category of goals

It is the manager’s responsibility to play a leading role in setting up of the goals of the employee whom he/she is going to assess later on. Apart from keeping the current capabilities of the employee in mind, the manager must also ensure that the number of goals is optimum in number while leaving enough challenge for the employee at the same time.

Leadership Team to have top 3 organizational goals as common

The executive team needs to be a cohesive unit since each member has his/her own downline to manage. Hence, the top 3 organizational goals are kept as common goals in the goal-sheet of all the members of the executive team.

Business Goals with Quantified Targets

In today’s competitive scenario and the dire need for effective execution within a defined time-frame, the criticality of quantifiability cannot be underscored enough. In other words, it is crucial that the defined goals are mathematically measurable as far as possible. Attaching numbers to define the goals can do wonders to the execution at the ground level.

BAU- Core Job Responsibilities with success criteria

Although core responsibilities may be the means to the ends, they need to have a measuring yard-stick too. It is important to have internal success criteria to define when a core responsibility stands successfully completed as per the defined expectations in the goals sheet.

Monthly-Quarterly indicators of leading indicators

It is important to adopt a systematic approach towards the leading indicators. In fact, a quarterly and monthly schedule is a must to have. This will ensure that the requisite check points are in place. The employee can further break it down into week wise pieces as well.

Org Goals having weighting in Individual goals

It is important to align the organizational achievement with that of the employee. Whether an individual employee does very well or poorly, the overall organizational achievement has to have a bearing on his/her final rating in the performance management system. This is alignment in form and spirit.

Functional goals have weight in Individual Goals

Just like the organizational achievement will have an impact on the performance assessment score of the individual employee, so will the functional vertical’s achievement. This is the alignment of individual, departmental and organizational goals and achievements.