Company objectives are a crucial part of any business model and an essential element for business growth. Once you set objectives, you can then ensure that you are effectively moving towards the fulfilment of these goals. The aim is to make sure that your business is constantly improving on an annual basis.
Ideally, you need your team to be involved in these objectives. They should be actively aware of the objectives in place and what they are expected to do to reach them. However, it’s not enough to simply provide goals and objectives that employees should be aiming for. Instead, you should make sure that employees are setting their own goals as well. In this article, we’re going to explore why that’s important and how it could benefit you.
The Importance Of Autonomy
Studies have shown that autonomy does increase happiness levels. This means that if individuals have higher subjective well-being they are more likely to be productive in their position. As such, directors should always aim to keep employees happy and a key way to do this is with goals. Based on the latest research, setting goals is going to improve happiness levels. This is particularly true if employees and teams are setting their own goals.
Why is this? If you set a goal for your team, it’s possible that employees may not understand the reasoning behind it. They might also find that particular goal boring or monotonous. If that’s the case, they are going to be less engaged and less interested in whether or not they reach it. On the other hand, once you encourage them to set their own goals, they can make them interesting. This, in turn, ensures that they are more engaging. However, this isn’t the only benefit you can gain from taking this tactic.
Owning The Goal
When teams set their own goal, they own it. What does this mean? Studies suggest that employees are keen to evaluate goals that they are set. If provided with the right opportunity employees with their own goals are also going to climb beyond the targets and bars reached by employees who are just attempting to achieve their best performance.
This again provides more evidence that previously set goals are not taken seriously by employees. They don’t have a high level of motivation to achieve them. However, if you provide the opportunity for employees to own their goals, they feel more connected to the outcome. The easiest way to think about this is who an employee is failing. If you set a goal, then the team of employees is going to be failing you. While you might assume this will provide the right motivation, studies show that failing yourself is more damaging. As such, employees are more motivated to reach a target they have laid out.
Allowing employees to set goals also provides great benefits to the business as a whole. Goal setting isn’t just about creating chances for engagement or motivation. It also provides options for effective evaluation of the business model. By setting goals, it’s possible to determine what is important and what can be forgotten or at least moved down the checklist.
Yearly reviews are important and yearly objectives will ensure that there is a constant a team is working towards. However, when employees start setting goals, they gain stretching targets. This ensures that the goals are constantly shifting based on both the business model and the interests of the employees. The time span between the different objects is also likely to be smaller. This ensures that you don’t have to worry about employees potentially forgetting different objectives.
Furthermore, constant or continuous stretching targets will ensure that a feeling of accomplishment is achieved more regularly. It will provide employees with the chance to explore and celebrate successes. This too can lead to great positives.
Helping Employees Engage With Company Objectives
The first step to ensuring that your team is going to be engaged is by ensuring that they understand the vision of the business. They should be fully aware of the annual ambitions of the business and the objectives beyond the end of the fiscal year. Any objectives that employees set should be measured or fit against these long term goals. Employees should understand how they fit together and why one is important for achieving the other.
As well as this, the director should be able to discuss with each employee or team member the right way to achieve a particularly long term goal. You need to consider the knowledge and skills necessary as well as the important activities that are going to be a vital part of the process. Discussions like this should be completely open and honest. It should provide employees with the chance to make their own decisions and choices, leaving room for growth.
The aim here is to ensure that employees understand their part in the long term goal while also ensuring they know that they are able to set their own objectives in the short term.
After overall goals have been established, the team members will then be able to set up their own objectives and plans. These could be quarterly or monthly projects that will play a part in reaching the final target. The monthly objectives can also be divided into smaller tasks that the team should work to achieve on a daily or weekly basis.
Share The Objectives
Finally, it’s worth using a platform where objectives can be shared. By allowing all employees to view different objectives it can ensure that team members feel connected to the overall process. It can also help ensure that everyone is continuously working towards the same overall objective even with individual choices and decisions. You can even encourage friendly competition to spur employees to climb further when working to accomplish goals.
We hope this helps you understand how to engage a team when setting objectives. If you need more help, Maple Accountants, is on hand to review how you are performing in this area and what you can achieve through the next year.