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Setting Individual Objectives

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Presentation on theme: "Setting Individual Objectives"— Presentation transcript:

1 Setting Individual Objectives
A well-written objective should provide clear expectations and provide a basis for evaluation. To develop an objective, start with an action verb (design, create, develop, improve etc.); then answer the how, why, and when.

2 Think S.M.A.R.T. when Setting Objectives
S.M.A.R.T. stands for… It means… Examples SPECIFIC Objectives should be clear, concise and easy to understand. Use specific action verbs that state the results expected. Action verbs: Develop Schedule Create Monitor MEASURABLE Identify quantitative and/or qualitative statements, which measure the objective. Find ways to measure success, such as a department productivity or quality measure, due date, or customer feedback/survey results. Metrics Accuracy Timeliness Efficiency Completion rates Satisfaction/Feedback ACHIEVABLE Set objectives that are challenging as well as attainable. Consider what resources, training or information might be needed for the result to be successful. Expected to achieve 98% satisfaction rate. Target stretch assignments for 15% of staff. RESULTS-ORIENTED Describe the final product, outcome or result. State what outcomes (results plus standards of performance) are expected to fully meet this objective. Consider what would be needed to exceed this objective. Financial targets A report A project plan High accuracy Improved relationships System or process implementation TIME-FRAMED Where possible, include any specific target dates or time frames for completion. Before a specific date, XX/XX/XX Weekly Monthly Quarterly By year-end A simple way to assist in setting objectives is to use the S.M.A.R.T. criteria. S.M.A.R.T. is an acronym that will help you remember the necessary criteria for effective goals and objectives: Specific, Measurable, Achievable, Results-oriented, and Time-framed.

3 Tips for Getting Started: Setting Objectives
Make a list of the top 4-6 things you must DO in your job (major buckets of responsibilities) and that align to support key department, business and/or Company-wide priorities. Focus only on major objectives (highest priority) and the interim steps necessary to achieve these objectives. These could include core projects or tasks, problems to solve, changes to make, technical objectives, financial targets to hit, and leadership/management objectives. Take each major responsibility and turn it into a SMART Objective. SMART Objectives are Specific, Measurable, Achievable, Results-Oriented, and Time-Framed… By using this approach, you can identify the key measures or standards for how you will be evaluated in terms of results expected and how it will be monitored. Create your objectives using action-oriented words. Finding the language to articulate your SMART objectives takes some effort and practice. Complete SMART objectives are the most effective because they make expectations clear to everyone involved. Further test your objective with your leader, what would it mean to fully met this objective – describe the results and actions/behaviors/ performance standards to support it? What would it mean to exceed this objective? Once you have developed all of your objectives, decide on the appropriate weighting for each objective. Some objectives may require more time and effort than others, and should be given a heavier weight. Each objective should have a weight of at least 10%. If an objective has a weight of less than 10%, remove it from your list or readjust your weights. Overall objectives should total 100%.

4 Examples of S.M.A.R.T. Objectives
Continuous Improvement: Drive [department] continuous process improvements resulting in a minimum of 5% efficiency gain as evidenced by a 5% reduction in the current [department] fixed cost budget by December, 20XX. Budget Administration: Manage full-year 20XX [department] budget within a 2.5% variance, maintaining monthly forecasts within a 5% variance. Business Process Optimization: Streamline, standardize, and simplify internal processes through a strong partnership with [several functions]; adherence to procedures and policies resulting in an accuracy rate of 99% and a cost per order improvement of 5% over prior year. Leadership: Implement engagement and retention initiatives to increase associate morale and reduce associate turnover in [XYZ] department by [xx]% by end of 20XX. Utilize monthly turnover reports to track progress. Measure through associate climate through survey process.


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