Employee goal setting is the process of setting specific, measurable, and role-oriented objectives that employees work towards while at your company. They take into account the employee’s personal growth targets, requirements of their future desired role, and resource availability.
The idea is to use these goals to measure performance throughout their time at your organization, evaluate development progress and suggest any upskilling which may be necessary to reach these goals. They can either be short or long-term goals.
What are some of the importance of setting goals for your employees?
Aligning staff's work with the company's broader short-term and future goals. Employees’ goals should align with the overall company objectives. This will foster a sense of belonging and productivity in the employee.
Establishing guidelines and criteria for a successful employee performance review and/or company bonus program
Deepening employee engagement
Giving your employees something to work towards an increase day-to-day work engagement and improve motivation and job performance. Skill-building gives them the means to achieve those goals.
A competitive advantage
Investing in employee skill-building gives the company a competitive edge. When skill-building and employee goals align with business goals, it can ultimately drive growth within an organization.
Improved retention rates: 94 percent of employees exiting a workplace say they would stay if their company made a greater investment in workforce education. Encouraging skill-building and continuous learning as part of a goal-setting strategy can actually help reduce turnover.
Having no specific goal to work on can lead to lower morale of the employee, and ultimately affects the productivity of work. On the other hand, achieving goals keeps them motivated and improves their confidence and job satisfaction.