Good company leaders always set their sights on the future. Having concrete goals for 2023 makes a difference. Along with spurring personal growth, you can set targets for your organization, giving your entire workforce direction.
Typically, using the SMART goals strategy is the best option. Here’s a look at what SMART goals are and some dos and don’ts of good goal setting that accompany the approach.
What Are SMART Goals?
SMART is an acronym for Specific, Measurable, Attainable, Results-based, and Time-bound. Essentially, the term denotes the qualities of excellent goals, making your targets easier to define and hit.
Specific goals are targets without ambiguity. For example, “Increase profits” is overly vague and doesn’t give much direction. Alternatively, “Increase sales of our flagship product” is better defined.
To make a goal measurable, you need to associate it with metrics. For example, adjusting the one above to “Increase sales of our flagship product by 15 percent” clarifies the actual target as a way to measure success.
For attainable, you essentially need to ensure that your target is realistic. For instance, while a 15 percent increase in sales is potentially plausible, going for a 40 percent increase might be unreasonable.
Results-based goals are outcome focused. You define exactly what you want to achieve, not the actions required.
Finally, time-bound involves deadlines, giving you motivation since you want to hit the target by a specific date. Using the previous example, adjusting it to say, “Increase sales of our flagship product by 15 percent by the start of Q3 2023” adds a deadline.
The Dos and Don’ts of Good Goal Setting
Generally, the SMART goal approach is highly effective when creating meaningful, practical goals that benefit you or your organization. However, it’s also wise to include a few more dos and don’ts to boost overall effectiveness.
Here’s a quick breakdown of some of the dos and don’ts of good goal setting that align with the principles of SMART goals:
- Do focus on your company’s main priorities
- Don’t set too many goals, as that disrupts your focus
- Do monitor your progress
- Don’t forgo making changes to the targets if unexpected situations arise
- Do inform your employees about new company goals
- Don’t stop if you fall behind; instead, work to get as close as possible by the deadline.
- Do identify mini-goals that lead you to the target, using them as a functional roadmap
Coupling the SMART goal strategy with the dos and don’ts above allows you to identify the best possible targets and set yourself up for success.
Do You Have Hiring Goals You Need to Meet?
Many companies project their workforce needs for the upcoming year. Typically, reaching your hiring goals ensures smooth operations and high productivity. If you have hiring goals you need to meet, Premier Staffing Inc. can help. Contact us today.