Goals and objectives get a whole lot of attention this time of year. Companies create new revenue objectives; individuals resolve to do something differently. This oversimplifies things a bit, but you get the general idea. The New Year is the time to initiate change, raise the bar, create new challenges, make things happen.
Companies decide to increase sales. Develop new marketing plans. Introduce new product lines. Open new locations.
Individuals want to lose weight. Get in shape. Start a new hobby. Work on the house.
Unfortunately, it is estimated that as many as 80 percent of New Year’s resolutions end in dismal failure – before January is even two weeks old. And, although accurate data on the success of corporate goal-setting is difficult to find, I suspect the results may not be considerably better. Why? Because what most people and most companies believe to be “goals” are really nothing more than pipe dreams.
Which of the following two statements are most likely to result in progress?
1. I need to start running.
2. I will run two miles immediately after work, three times per week (Monday, Wednesday, and Saturday) in 11 minutes or less, for eight weeks. I will record my times and assess my progress weekly.
One is a dream, or, at best, a good idea. The other is a defined and measurable plan. And that, in a nutshell, is the difference between success and failure in goal-setting. To reach an objective of any complexity requires a clear and specific understanding of how that objective will be reached. Successful goal-setters don’t simply visualize an objective, they create a detailed, step-by-step, measurable process for reaching that objective.
The same problem occurs in the corporate world. Instead of a specific objective and detailed plans, the company gets a number to shoot for. Someone at the top decides on a lofty objective – a 20% increase in sales, for example – and everyone is encouraged to do their part to make it happen. In some cases, there may even be a “strategic planning” session where key personnel debate a number of tactics that may (or may not) help the company reach the objective.
The problem is that a number is not a strategy. In fact, a number is not even a goal until you put a plan behind it. Until then, it’s just a dream; or, at best, a decent idea.
The Importance to Your Employees
This whole idea has tremendous importance for you, certainly, but it is also extremely important for your employees. Clear goals and measurable progress, as it turns out, are crucial components of employee engagement. Teresa Amabile and Steve Kramer discussed this idea in a recent HBR article:
To get yourself and your team off to a good start for the new year, focus on progress. Our research discovered that fostering progress in meaningful work is the most important way to keep people highly engaged at work — even if that progress is a “small win”.
We call this phenomenon the progress principle; it works because people want to feel that they are contributing to something that matters.
This time of year is the perfect opportunity to review career and workplace goals with each of your employees. However, to make the process effective, resist the urge to simply discuss the employee’s past performance, or to just throw out a couple of important-sounding objectives to consider for the New Year. Instead, identify one or more specific career and/or workplace objectives and create a clear game plan for attaining those objectives. Create milestones – the “small wins” – that define progress. Create clear metrics so performance or improvement can be assessed at regular intervals.
And, if you’re not exactly sure how to create clear goals and defined plans, make that your New Year’s resolution, but give yourself a chance: Quit hoping. Start planning™.
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