Almost every company has some sort of annual goals. But, according to the Staples Small Business Survey, more than 80% of small business owners admit they don’t give enough attention to achieving them. Leaders should place more attention on aligning these targets throughout the organization. According to business thought leader James Fischer, companies that regularly allow staff to author, contribute and monitor the business goals have 60% less employee turnover than those that plan and strategize from the top down.
An organization’s goals should be communicated to everyone within the organization – everyone. Department goals should be aligned with the organization goals and individual goals aligned with department goals. Everyone should have objectives that are linked to the priorities of the organization.
Example: Organization Goal – Increase sales by $500,000 by December 31; IT Department Goal – Implement new CRM system by June 30; IT Manager Goal – Choose CRM system by February 1.
Once the leader shares organizational and departmental goals, direct reports should determine their own objectives with the leader’s coaching.
Leaders who empower their team to achieve individual goals benefit from employee engagement, collaboration, and corporate stewardship success.