Four Performance Goals with examples
Hype Leads
Hype Leads is your digital VA platform. Bringing sales and marketing together in one place.
How Do Performance Goals Work?
Key performance indicators (KPIs), usually referred to as performance goals, are the benchmarks you establish to measure employee performance. These commonly play a role when managing a workforce.
?The employment position of the person will determine the specific performance goals, but they must always be linked to the overarching corporate goals. That is why it's crucial to be clear about the priorities of your business.
Advantages of Performance Goal Setting
Employee retention is more critical than ever as the Great Recession continues. According to the Pew Research Center, "feeling disrespected at work" is one of the top three reasons employees quit. Setting performance goals might help prevent that, as we believe that one of the reasons why people feel disrespected is miscommunication. When expectations are unclear, both the employee and the employer might be doing their best yet still end up in an argument. SMART performance goals don’t leave any room for misunderstandings.
?
Of course, a person may not be producing their finest work simply because they don't give up. Only 20% of employees worldwide are engaged, which is much worse. Because KPIs give employees clearly defined challenges they must solve, we think that defining performance targets might enhance employee engagement. Top achievers who enjoy challenges are likely to value them most.
?
If your expectations are unclear, even motivated individuals who want to put forth their best effort could find it difficult to achieve maximum productivity. They can identify the most crucial jobs and prioritize them with the help of performance goals.
?
A smart person uses SMART goals
?Make sure that you understand the "why" of the task before starting a major project. You'll spend less time midway through the project, arguing the project's vision if everyone is on the same page and there is a clear work plan in place.
?To ensure that you have a distinct vision, use the SMART goal-setting methodology. Setting objectives that are:
?
SPECIFIC
What specifically are you trying to achieve? Clearly articulate your vision.
?
MEASURABLE
How will you know when you've finished? You ought to have a precise method for determining success. For instance, state the timeframe that you're looking for if your goal is to streamline the recruiting of new personnel.
?
ACHIEVABLE
领英推荐
Is this goal realistic given the time and resources you have at this time? If not, you might need to make additional plans to accomplish your goal.
?
RELEVANT
Does the goal match with the mission of your company? Only engage in time-consuming, expensive projects that provide value.
?
TIME-BOUND
Have you set a certain deadline? To prevent drifting pointlessly for an endless period of time, it is essential to set a deadline
?
Performance Goals
1. Goals for revenue
Having revenue goals as the company's main objective works effectively. Yet they only make sense as an employee performance objective if the person has the authority to make choices that have a direct bearing on the company's bottom line.
Revenue Objective Example: "Close 15 new accounts to increase Q4 revenue by 30%."
?
2. Goals for sales
Sales goals are effective measures of employee success for salesmen. Depending on how long your sales cycle is, you can set monthly, quarterly, or annual sales goals.
Example: To close $300,000 in sales by the end of the current fiscal year.
?
3. Goals for Email Marketing
Goals for email marketing are frequently determined by the desired subscriber count. The quantity of email subscribers is a vanity metric, though, just like traffic. To balance the incentives, think about establishing extra performance targets that take into account additional pertinent indicators like open and click-through rates.
Example: To increase email click-through rates by 15% by March?2023.
?
4. Goals for social media
The number of followers you wish to gain as a target is often the basis for social media goals. The percentage of your followers that interact with a piece of content is known as the engagement rate, which is another crucial indicator (e.g., liked, commented, shared, etc.).
The aim is not to become famous, though.
Example of a social media goal: "By the end of the year, increase Facebook engagement rate by 12%."
?
Establishing performance goals can increase staff productivity, motivation, and retention. It is one of?the best ways to guarantee that everyone is aware of their duties.