Tips on Setting Annual Goals & Objectives
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Tips to set Annual Goals & Objectives
Anita Rao
January 2014
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Agenda
Y?
Balanced Score card
Customer
Product
People
Finance
SMART Goals
Management Specific Goals
Conclusion
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Y?
First plan the work then work the plan all year round
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Balanced Scorecard Themes
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People
Product
Finance
Customer
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Customer
• Customer Management
• Selection, Acquisition, Growth, Retention
• Measures: NPS, Customer Acquisition, Retention, Satisfaction,
Profitability
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People
Product
Finance
Customer
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Product
• Product / service capabilities that deliver value
• Partnership
• Service and Support
• Brand
• Measures: Number of products/capabilities delivered,
Customer NPS, Time to Market, % of revenue from new
products/capabilities
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People Finance
Customer
Product
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People
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• Human Capital
• Organization Capital (Leadership, alignment, teamwork,
culture)
• High performing teams
• Employee growth and development
• Measures : Employee NPS, Retention, Revenue per employee
Product
Finance
Customer
People
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Finance
• Growth, Sustain, Harvest
• 2 broad perspectives
• Growth (Expand revenue opportunities, enhance
customer value)
• Productivity (improve cost structure, increase asset
utilization)
• Measures: Top line growth, cost efficiency, cost reduction,
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People
Product Customer
Finance
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What are SMART Goals?
Specific – state exactly what you want to accomplish
Measurable – how will success be measured
Achievable – stretch and challenging goals (use action verb)
Relevant – how is it tied to objectives and responsibilities
Time bound – specify target dates to guide by when the
result(s) are expected
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Guidelines for Management Goals
Hire and Retain Top Talent
Train and Develop Team
Build High Performing Team (see presentation on High Performing Team)
Introduce and successfully implement best practices across team
Generic for Teams
Deliver successful products that delight customers
Customer NPS
Product relevant KPIs
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Conclusion
Track and report progress throughout the year –
quarterly at a minimum
Ensure that KPIs or measures are
Actionable, accessible and auditable
Communicate results internally and externally
Celebrate and reward success!!!
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Thank You
Twitter @anitaprao;
Blog:
http://anitapaulrao.wordpress.com/
Linkedin:
www.linkedin.com/in/anitarao/