Once you have identified your objectives and established the timeframe, the next step is to formulate goal statements (often referred to as objectives or targets). It’s advisable to adopt a systematic approach to writing your goals to ensure they are memorable and comprehensively articulated. We suggest using the SPIRIT framework, which incorporates the following key elements:.
Specific
Be specific about what you want or don’t want to achieve. The result should be tangible and measurable. “Sell more products” is ambiguous, but “Increase market share by 7% per year” is specific.
Prizes
Motivation is extremely important. There needs to be a system in place so that we take time to recognize, reinforce, and reward people who are participating in meeting benchmarks and overall objectives. Prizes don’t need to break the budget. Here are some ways that you can reward people:
- Acknowledge an individual or a team in a meeting
- Offer praise through a company newsletter
- Issue bonuses (monetary, points systems, etc.)
- Record successes in notes for annual performance reviews
For goals that are a long way off, set up rewards along the way to help keep people engaged.
Individual
Employees are more likely to engage with and feel motivated to pursue goals they can personally relate to. It’s important to connect these goals to individual performance objectives, translating the broader vision into relatable terms. Doing so not only helps employees understand the overall direction of the company but also allows them to see how their contributions fit into the bigger picture.
Review
Review progress periodically. Do the goals still make sense for the short and long term? Are people’s activities a good demonstration of the strategic plan, or have they wandered off track and taken to pursuing their own personal goals? Are you measuring as you go and making adjustments, or is it more important to stay the course?
Inspiring
Frame goals positively to ensure that people can relate to them effectively, even if the underlying issue is challenging. For instance, if employee benefit plan costs are rising, cutting programs can lead to low morale. Instead, engage your employees by asking for their input on potential concessions. You may be surprised by their creativity! Rather than stating a goal like, “We need to cut 15% from our employee benefit plan budget,” consider rephrasing it to: “Through employee consultation, we will identify and implement savings of 15% in the employee benefit plan over the next 12 months.”
Time-Bound
Give yourself a deadline for achieving the goal. If the goal is quite large, break it into smaller pieces and assign a deadline for each one.
