Goal Management: The Key to Long-Term Success
The tracking and aligning of business goals throughout the workplace has become pivotal to a company’s overall success.
Long gone are the days of annual reviews and yearly meetings. Instead, businesses are becoming far more concerned with employee engagement and motivation. Research conducted by Deloitte in 2018 discovered that more than 75% of managers understood that the implementation of goal management is a high priority for their business.
Despite this encouragement, only around 17% of the population actual keep track of their goals, according to a Harvard Business Study. The reasons behind this are generally chalked down to goals appearing intimidating, overwhelming or even insurmountable.
To combat this perception, a number of new, revolutionary means to manage goals have been adopted by workplaces all across the globe, meeting various degrees of success.
#1: Gamify your workplace
The gamification of key work processes has been one such innovation that has been widely used in several workplaces looking to make goal management interactive. Despite still being in its early stages, the benefits of gamification have already been well documented, with employees enjoying reduced levels of work-related stress, higher levels of motivation and more accurate tracking of key goals, while keeping employees loyal and productive.
Gamification’s use of interactive and intuitive stimuli helps in motivating employees to achieve their own self-selected goals. (Ryan, R. M., & Deci, E. L. , 2000). In doing so, Gamification makes the process of tracking goals less intimidating through its more light-hearted approach to tackling real-world objectives.
of managers understood that goal management is a high priority (Deloitte)
17% of the population actual keep track of their goals (Harvard Business)
increase in productivity of around 10 times through MBO
#2: Management by Objectives (MBO)
This management model, established by Peter Drucker in his book ‘The Practice of Management’, claims that the process of managing goals can be narrowed down to a simple process cycle, where Organisational Objectives are Reviewed, set, monitored and evaluated, while also prioritising the reward of progress.
MBO is considered one of the most successful goal management tools, resulting in a productivity increase of around 10 times, as found in an extensive 30-year research program on the tool.
#3 Objectives and Key Results (OKR)
Yet another steeple in goal management, OKR defines and tracks objectives and their outcomes, allowing employees to be aware of the key goals that are vital for the task at hand.
OKR’s key benefit lies in the fact that it is capable of motivating employees to look beyond achieving the initial goal. Achieving 100% completion for a particular goal is near-impossible, however this only works to motivate employees to try and attain as high a completion percentage as is possible, giving employees a sense of gratification at each newly-found milestone.
#4 Managing Goals with Brightspark
As a unified HR platform, Brightspark is well-equipped to aid employees and managers alike in achieving their goals. Intuitive Action Plans allow users to create, monitor and update goals, while giving your business the option to share action plans among colleagues, ensuring that team goals are achieved efficiently through improved goal visibility.
Employees can also gauge their goal-related progress, both through their personal dashboard, as well as through detailed activity progress reporting. The enhanced mobility of this function allows employees to be able to stay on top of their goals, anytime, anywhere.
Visit our Achieve page to discover more about how Brightspark can help simplify the process of goal managing!
Brightspark also facilitates this by implementing the Training feature, which can help both managers and employees to stay on top of their training commitments.
Ryan, R. M., & Deci, E. L. , (2000). Intrinsic and extrinsic motivations: Classic definitions and new directions. Contemporary Educational Psychology, 25(1), 54e67