Goals are the backbone of any successful enterprise. Company goals, team goals and individual goals – if executed correctly – should all relate to one another and engage employees with the broader business vision. However, at BetterWorks, we know all goals aren’t created equally. Instead, objectives and key results that are regularly updated and interacted with on goal setting software are the most powerful tool for motivating high performance throughout an organization.
If an enterprise wants to sustain its success over a long period of time, both teams and individuals must remain on a path toward continual growth, and business leaders must inspire performance development™ on a consistent basis.
Shortening the Feedback Loop
The primary reason interactive goals inspire continual performance development is that consistency and transparency are two of their inherent qualities. On the contrary, employees who receive feedback only once yearly are not given the tools to constantly take their performance to the next level. According to a national survey conducted by Eagle Hill Consulting, 87 percent of respondents believe feedback is important to career development, and 85 percent said they feel valued when someone takes the time to provide feedback on their work.
Despite the very integral role consistent feedback plays in performance development, enterprises still have a long way to go meeting the needs of teams and employees. As Eagle Hill’s data revealed, on 60 percent of respondents reported their work environment supports a culture of feedback, and only 44 percent indicated they receive regular feedback on their work.
Businesses can counter this trend by leveraging goal setting software that empowers their managers to engage in informed, measurable and performance-based conversations on a regular basis. Additionally, the transparent nature of this software gives employees the opportunity to visualize their own goals and performance and understand where they need to improve to have a more positive impact on their teams.
“The most successful enterprises know the importance of leaning on their managers.”
An Invaluable Management Tool
The most successful enterprises know the importance of leaning on their managers to drive performance development across teams. At BetterWorks, we know that managers have a direct influence on employee engagement and productivity, and should be empowered to play an active role in helping employees achieve their aspirations. In fact, one of our recent blog posts cited data from Google that found the best managers could improve their teams by five to 18 percent.
So how can businesses equip their leaders with the tools they need to transition from managers to full-on coaches? Investing in goal management strategy certainly sounds like a solid strategy. When goals are visible to everyone and managers can easily visualize how their employees’ performance is affecting company-wide accomplishments, they’re better able to actively influence performance.
The Limitlessness of Aspiration
Of course, shortened feedback loops and inspiring managers can only go as far as the limitations enterprises place on accomplishment. At BetterWorks, we believe the limitlessness of aspiration is what takes organizations to the next level, and OKRs encourage employees to set goals that are more than just attainable. On the contrary, OKRs give team members the space they need to grow, and breed confidence in an organization’s investment in their career development.
Goals are more than just a tool for determining pay raises and promotions. Today, organizations depend on goals to unify teams and drive performance development in more powerful ways.