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What do you do if your accountants' performance goals lack meaning?

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Performance goals are essential in accounting as they provide direction and motivation. However, if your accountants' goals seem meaningless, it can be disheartening and counterproductive. It's crucial to ensure that performance goals are not only challenging and attainable but also align with your organization's objectives and your accountants' career aspirations. If goals lack meaning, they won't inspire the effort and engagement needed to achieve them. Addressing this issue involves reevaluating the goals, ensuring they are relevant, and making sure they contribute to both the company's success and the accountants' professional growth.

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Dr. Regina King'ori

Award Winning Financial Consultant | Founder and CEO | Tax & Audit Expert | Entrepreneur | Cheerleader of Dreams | Lead…
MARK LEE FCA

Biz dev (incl re LinkedIn) for Accountants | Pragmatic insights, support and advice | Mentor, Speaker, Debunker | Chair…

2 个答复

1 Reassess Goals

When you notice that your accountants' performance goals lack meaning, the first step is to reassess these objectives. Discuss with your team members to understand their perspectives on the goals set for them. This conversation can reveal if the goals are too vague, unachievable, or irrelevant to their roles. Meaningful goals should be Specific, Measurable, Achievable, Relevant, and Time-bound (SMART). By working with your accountants to redefine their goals, you can ensure that they are clear on what is expected and why it matters, which can significantly boost their motivation and performance.

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Dr. Regina King'ori

Award Winning Financial Consultant | Founder and CEO | Tax & Audit Expert | Entrepreneur | Cheerleader of Dreams | Lead Mentor Skill-Up Mentorship Program
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To improve your accountants' performance goals: Ensure goals are SMART: specific, measurable, achievable, relevant, and time-bound. Use qualitative and quantitative criteria for evaluation, assessing technical skills and efficiency. Conduct regular, constructive reviews, providing feedback and discussing career development. Recognize and reward excellence to motivate and retain accountants, fostering a culture of continuous improvement. Implementing these steps enhances performance evaluation and contributes to overall business success.

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MARK LEE FCA

Biz dev (incl re LinkedIn) for Accountants | Pragmatic insights, support and advice | Mentor, Speaker, Debunker | Chair of Network of specialist tax advisers | Received Outstanding Contribution award at Accountex 2024
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I should be able to answer this given my background and expertise but the question makes no sense to me. Apparently I need to say more for this reply to be of value. Hopefully that’s enough!

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Siddharth Kothari

Top Accounting Voice????Host-Accounting Renaissance | Outsourcing and Offshoring consulting for accounting practices
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Job evaluation is very important for any accountancy firms to understand how best their team members are doing in their roles and responsibilities alloted. 1. Do they need trainings 2. Were they assigned something out of their strengths 3. Can they be more efficient in other role available

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Leandro Gambetta

CEO e Fundador da Vectigalia Consulting | Conselheiro de empresas (Board Member)
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Entendo que algumas fun??es as metas podem ser um pouco vagas. Um grande exemplo é a fun??o dos contadores, que em princípio executam tarefas mais administrativas. Contudo, é uma fun??o que pode muito bem ser tra?ada de acordo com os objetivos da empresa e que pode contribuir muito para o crescimento sustentável e trazer solu??es. Por isso, primeiramente é preciso entender onde os contadores podem contribuir e atribuir metas de acordo com sua fun??o, atrelada ao objetivo do negócio.

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2 Engage Accountants

Engagement is key to making performance goals meaningful. Involve your accountants in the goal-setting process to give them a sense of ownership and control over their objectives. When accountants feel that their input is valued, they are more likely to commit to their goals. Encourage them to set personal milestones that align with the broader objectives of the department and the organization. This collaborative approach can help bridge the gap between individual aspirations and company targets, creating a more harmonious and productive work environment.

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Siddharth Kothari

Top Accounting Voice????Host-Accounting Renaissance | Outsourcing and Offshoring consulting for accounting practices
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Your team is your arm. 1. They should know the organization's aim 2. They should allow a fair chance to grow themselves and strive 3. Allow to share opinions and thoughts in group meetings and townhalls 4. Understand their view points in processes, client relations and overall business

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3 Align with Vision

For performance goals to be meaningful, they need to align with the company's vision and strategy. Ensure that your accountants understand how their individual goals contribute to the bigger picture. This understanding can transform seemingly mundane tasks into significant contributions to the company's success. When accountants see the impact of their work, they are more likely to take pride in their achievements and strive for excellence. It's essential that you communicate the company's vision clearly and regularly to keep everyone aligned and moving in the same direction.

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Siddharth Kothari

Top Accounting Voice????Host-Accounting Renaissance | Outsourcing and Offshoring consulting for accounting practices
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Make an platform for team to align visions and goals to their work targets. Best practices is to organize informal gathering and meet-ups as a team Everyone should be given the opportunity to strive, learn and perform equally. A organization who runs in align with their team's motives scales at a huge pace.

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4 Offer Support

Support from management is crucial in helping accountants achieve meaningful goals. This could involve providing additional training, resources, or even restructuring teams to better support goal attainment. Regular check-ins can help identify any obstacles your accountants may be facing and allow for timely intervention. By showing commitment to their success, you foster a supportive culture that empowers your accountants to take on their goals with confidence and enthusiasm.

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Siddharth Kothari

Top Accounting Voice????Host-Accounting Renaissance | Outsourcing and Offshoring consulting for accounting practices
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Support them in their work with : 1. Training and development 2. Stress management and time management skills 3. Rewards and recognition for performing well 4. 1-2-1 support and supervision if they fail or underperforms - because they won't feel alone in this situation

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5 Monitor Progress

Regular monitoring of progress towards performance goals is vital. It allows for adjustments to be made if certain objectives are no longer relevant or if an accountant is struggling to meet their targets. This process should be a collaborative effort where feedback is given constructively, and achievements are recognized. Monitoring progress helps maintain momentum and keeps goals at the forefront of your accountants' daily activities, ensuring continuous focus and dedication.

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Siddharth Kothari

Top Accounting Voice????Host-Accounting Renaissance | Outsourcing and Offshoring consulting for accounting practices
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Again, evaluation process is the key: 1. It should be fair and transparent 2. Should be designed to motivate team and not that brings down morale 3. Documenting the evaluation timelines 4. Career mapping or skill mapping the overall team

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6 Reflect and Adapt

Finally, encourage your accountants to reflect on their performance regularly. This reflection should not only focus on whether goals were met but also on what was learned throughout the process. Use these insights to adapt future goals, making them more meaningful and aligned with both individual growth and organizational objectives. Continuous learning and adaptation are key components of a robust performance management system that keeps goals fresh and relevant.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Candice Ursula van Rensburg

Freedom is the end game of making good decisions
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I am my own accountant or have been as a sole prop for 10 years I've been self employed and responsible for my own prefornace and there is no better motivation to know that you either work every hour possible or you don't get paid.

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What do you do if your accountants' performance goals lack meaning?

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2

3

4

5

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1 Reassess Goals

2 Engage Accountants

3 Align with Vision

4 Offer Support

5 Monitor Progress

6 Reflect and Adapt

7 Here’s what else to consider

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