How to Prepare, Implement, and Evaluate Performance Objectives Successfully

What are Performance Objectives?

Performance objectives are measurable goals and targets to be attained by an individual or a team to help them prioritize the tasks and perform well. The objectives can be targets with a set timeline that benefits the employers in terms of profits, high-quality work, and faster pace in task completion.

According to HR researcher and expert, Josh Bersin “Companies that set performance goals quarterly generate 31% greater returns from their performance process than those who do it annually. And those who do it monthly get even best results.” (Source: Forbes, 2018). Apart from motivating the employees to contribute best in achieving their expectations, performance objectives motivate all the stakeholders to be aligned with the vision and goals of the organization. These objectives further aid in improved decisions by promoting collaboration and teamwork to attain shared goals.

How do Organizations prepare Performance Objectives?

The process of preparing performance objectives involves identifying the major areas, checking whether they integrate with overall organizational goals, incorporating employees’ ideas and recommendations, and drafting the objectives. Organizations employ the SMART method when setting performance objectives. The SMART framework ensures the performance objectives are relevant by being

Specific

State the objectives clearly in a well-defined manner by presenting the nature of the goal, the individuals and teams involved in achieving them, and the expected duration to achieve the target.

Measurable

Make sure to add quantifiable variables associated with the goal such as tools to rightly assess the performance and metrics to track the progress. The objectives need to be measurable to attain organizational success.

Achievable

When preparing performance objectives, verify whether the targets are achievable by the team. Validate whether with the existing resources and projects the team members are capable of achieving the set goals rather than proposing high-grade objectives to be attained in a limited duration.

Relevant

The objectives need to be relevant and should properly align with the overall organizational goal. The performance objectives for employees vary according to their positions, roles, and responsibilities.

Time-bound

Objectives are more likely to be met if they are time-bound. Creating a deadline for achieving specific tasks and goals motivates employees to perform best in achieving necessary outcomes.

When drafting performance objectives, write the objectives simply and concisely incorporating the right use of action words like achieve, create, develop, execute, implement, produce, and resolve to stress the importance of achieving the results.

How do Organizations implement Performance Objectives?

The most critical aspect regarding performance objectives is their proper implementation. The best way to execute performance objectives is to link individual goals to overall objectives. As per a Mckinsey study, it is revealed that “Of companies who have effective performance management systems, 91% say that employees’ goals are linked to business priorities.” Furthermore, to implement performance objectives in an organization, it is necessary to consider certain factors that enhance productivity and guide in achieving the expected outcomes. Some important factors required for proper implementation of performance objectives are:

Provide ample resources

An objective is achieved only when there are ample resources that contribute to achieving them. The resources necessary for achieving desired outcomes in an organization can be the physical resources like equipment and tools or the resources related to technology like hardware, software, data, and other information. Organizations should ensure that the objectives align with the existing resources or should provide provisions to access necessary resources in achieving the target.

Assign mentorship and guidance

Organizations must provide mentorship and guidance to their employees in achieving performance objectives. This can include imparting ideas and tips in using the right strategies and guidance to achieve the skills needed to achieve the goals.

Conduct training

Conducting regular workplace training by integrating the performance objectives is essential for the smooth implementation of the goals. The training can be done by incorporating multiple training methods such as Instructor-led Training, eLearning, On-the-job training, workshops, etc. to deliver content that leads employees and teams to achieve their targets.

Integrate Performance Improvement Plans

A performance improvement plan (PIP) is a document that provides performance goals for the employee so they have targets to work toward as they change their behavior and, as a result, advance their career. Identifying the areas that need improvements and incorporating them into the performance objectives helps it to integrate with PIP. This integration enhances the overall performance of the individuals and contributes to overall organizational objectives.

How do Organizations evaluate the achievement of Performance Objectives?

Implementation of performance objectives remains incomplete if proper evaluation is not performed to validate the attainment of the targets. This can be performed by conducting regular checks on the extent to which the objective is achieved and offering flexibility if needed. The common methods of evaluating performance objectives are:

Tracking progress

Continuous monitoring of the performance progress is a strategy to examine the level of attainment of performance objectives. It identifies the problems that slow down or prevent achieving the goals, thereby helping to provide the required solutions. In addition, continuous monitoring inculcates a sense of accountability in employees to achieve targets and deadlines.

Checklists

Checklists are self-evaluation criteria that verify whether the performance objectives are met. They are tools that help to schedule tasks, maintain uniformity throughout the performance, and offer a structured way to monitor progress. By creating checklists that include all segments of task performance, the employee can validate how much he or she has succeeded in achieving the goal and make alterations in their approaches or tasks as a whole.

Peer reviews and feedback

Feedback is an essential tool in evaluating the magnitude of fulfillment of the objectives. Besides reviews from top management to assess the range of attainment of goals, peer reviews, and feedback are a crucial evaluation strategy to identify the weaknesses of an employee in achieving the objectives and motivation to achieve further objectives.

Conclusion

In a nutshell, performance objectives are set goals to be achieved by an individual or a team for enhanced performance. The benefits of performance objectives include profits, top-quality work, and accelerated task completion. Preparing performance objectives involves the steps of identifying the major areas, analyzing whether they integrate with organizational goals, involving employee recommendations, and drafting. Employing the SMART method is essential when establishing targets by being specific, measurable, achievable, relevant, and time-bound.

To implement performance objectives in an organization, it is crucial to provide ample resources, assign mentorship and guidance, conduct training based on needs, and integrate performance improvement plans. Organizations can further evaluate the achievement of the objectives by tracking the progress of both individuals and teams, incorporating checklists for self-evaluation, and including peer reviews and feedback. It is suggested that organizations adopt performance objectives in their short-term goals and bring forth regular training and evaluation to help the employees achieve the targets contributing to organizational growth.

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Frequently Asked Questions (FAQs)

What are Performance Objectives?

Performance objectives are measurable goals and targets to be attained by an individual or a team to help them prioritize the tasks and perform well.

How do performance objectives benefit employers?

Performance objectives can be targets with a set timeline that benefits the employers in terms of profits, high-quality work, and faster pace in task completion.

What is the SMART method in performance objectives?

Employing the SMART method in performance objectives establishes targets by being specific, measurable, achievable, relevant, and time-bound.

How to evaluate performance objectives?

Organizations can evaluate the achievement of the objectives by tracking the progress of both individuals and teams, incorporating checklists for self-evaluation, and including peer reviews and feedback.