Goal-setting Framework Guide for 2023

Goal-setting is one of the most crucial aspects of any business. It is needless to say that a plan of action plays a significant role in organisations achieve desired goals, be they long-term or short-term. With a solid goal-setting framework, companies can work on the right talent alignment and utilise the maximum of their available resources.

However, the process of goal setting requires a clearly defined structure that allows for easy evaluation, tracking, and modifications as and when needed. To ease the process and minimise effort, many managers seek help from goal-setting software. These tools allow them to seamlessly work on organisational goals and simplify task management by creating synergy between initiatives and goal accomplishment strategies.

Take a look at this tried-and-true 3-step method for establishing objectives for the year 2023:

1. Make a strong five-year plan

Most business owners tend to exaggerate their objectives in the short term, but they should be realistic about their long-term potential. Remember that each passing year should bring your business closer to your ultimate goals. Take this chance to sit down and outline goals for the next five years.

It's important to picture the current status of your company after managers have decided on the goals. This is because the visualisation of the result is essential. Furthermore, this might also include reflecting on past years. Precisely, take a look at what your organisation has achieved in the following year and what amendments were made for the plan to work.

2. Work on SMART Goals

While setting goals, managers should make sure to consider these five characteristics:

S-Specific

It is completely essential to set well-defined and specific goals. Many managers face the challenge of failing to set goals that are specific to the vision and business objectives as a whole. For this, the best approach is to turn long-term goals into multiple short-term goals. This will help you stay focused and specific.

M-Measurable

Just setting specific goals is not worth it until you have to track and identify progress. Thus, managers must define how they will measure success so that they know their workforce is making progress and the plan of action is working as expected. This could be in the form of multi-performance measures.

A-Achievable

Considering the strength of their workforce and knowing their capabilities will help business leaders set targets that are achievable. Evaluate whether the performance expectations are realistic enough.

R-Relevant

Identify the relevancy of objectives in terms of the time period, resources, and budget needed to reach organisational goals. Managers must look at the big picture to see where they are now and what can be done to close gaps if any exist.

T- Time-bound

Goals that are set without a timeline, pose the challenge of tracking efficacy in the organization. Business leaders should define the time period within which they plan to achieve the desired goals. This can be further simplified with the help of goal management software.

3. Involve your workforce

Ultimately, it is your workforce that is going to work on these goals and help you achieve them. Therefore, it becomes consequential to involve them in the goal-setting process. Consider their thoughts, suggestions, and ideas on how they think they will be able to achieve the goals or what they feel about how realistic these goals are.

Conclusion

Setting goals is a great way to kickstart positive changes while stepping into the new year. At the same time, managers should keep in mind that they can't manage what they don't measure and can only improve what is managed well. This calls for careful planning, execution, and tracking of the organisational goals. For instance, the integration of goal-setting software like entomo helps businesses deal with challenges. The tools allow leaders to align business goals with individual employee goals and leverage dashboarding and analytics.

entomo is a people experience platform built for the digital world of work. Powering 30mn+ users and workplaces world-wide, entomo enables workforce experiences that transform performance, engagement and talent development using hyper personalized insights and nudges. entomo’s clients include Fortune 500 and other large enterprises, as well as forward thinking Governments who have embarked on enterprise, industry or national scale transformation initiatives. entomo is also voted as a leader in G2 software marketplace across multiple categories. To know more, visithttps://entomo.co/request-demo/