How to Effectively Plan Your Company Goals for 2018

How to Effectively Plan Your Company Goals for 2018

Goals aren’t always about obtaining the highest score and being as ambitious as possible – a lot of the time it is about keeping a business on the right track and growing at a speed that is suited to them. This is how you will effectively plan out your company’s goals for 2018.

Whether it’s long-term goals, short-term targets, ambitious objectives or easy milestones, businesses of all sizes need goals to keep them moving forwards, achieving more and most importantly, succeeding in their market.

A new year always brings new beginnings and with a fresh tax year coming up, you may be starting to plan out your targets for the following financial year. We have compiled our best tips to help you effectively plan out your company’s goals for 2018.

 

  1. Make Your Targets SMART

What is a SMART goal? The acronym SMART is designed to control your goal setting process. Using these rules, you are likely to give yourself the best possible chance of reaching your goal. By going through each of these letters, you will better communicate your ideas to your peers who will help you succeed, as well as encourage yourself to think clearly about what you are aiming for. Here is the meaning of each letter:

  • Specific: What exactly are you looking to accomplish? The more specific your description, the better chance you’ll have of reaching the end objective.
  • Measurable: How will you determine when the target is reached? Sometimes you’ll need to break these down into measurable aspects. For example, “having happier employees” isn’t a measurable goal, but “having a 100% employee satisfaction by the end of July” is.
  • Achievable: Is the goal reachable? Is it too 'out there'? Most SME’s would love to double their profit in the next year but if you can see recruitment, office moves and company cars needed to come along down the line, is this really achievable?
  • Relevant: Is reaching this goal relevant to you or your business? This point is more to make you truly think about your goal and what benefits you’ll reap by achieving it. Occasionally this can help you fish out the “vanity” goals from the sustainable ones.
  • Time-bound: Deadlines are what makes a goal complete. You need to give yourself a finishing date to achieve your goal by to make sure what needs to happen, happens.
  1. Track your progress

We all know this story too well; you start off with a great goal in mind with all the willpower in the world to do it, but a couple of weeks or months down the line, the goal fades into the background because bigger and better priorities take its place and life gets in the way.

A way to combat this is to track your progress in smaller chunks. Coming back to look at your goal once a month, or even once a week is a way to keep yourself motivated and show you that you are working towards your final goal.

Get organised. There are so many easy ways to track your goals. There are hundreds of apps out there which can help you track your progress and send you daily reminders. Equally, popping up a whiteboard in the office and reviewing your goals with your team on the first day of every month is a way to keep your team constantly engaged and moving towards that goal.

Once you have your SMART goal in place, choose a tracking method that is most suited to it.

  1. Plan Rewards as Well as Goals

If part of achieving your goals involves your team being on board with you, then don’t forget to offer an incentive to show your team that you care and appreciate their daily hard work.

There are two main types of employee incentives:

  • Monetary: The main reason your employees go to a job every day is simple – money. A cash bonus is the most universal reward to show your employee your gratitude, however, a gift card automatically provides your employee with a more luxury item. These incentives can either be won through completion of the goal or through something more fun like employee of the month.
  • Non-monetary: Much like the point above, this point continues to show the same amount of gratitude but through a non-monetary form. These can be things like extra time on your lunch break, a flexible shift or an option to go home an hour early. However, these won’t appeal to all staff so altering the prize to fit your business is key.

Can We Help?

Here at Rainbow Zebra, we want to help your business wherever with can with a hassle-free furniture purchasing service. This is why we offer free next day shipping, weekly offers and high levels of customer service.

If your goals for 2018 involve expanding the furniture you already have or going for a complete office revamp, give us a call on 0800 092 1985 for a chat on how we can help you and your business this year.

Posted by Paul Randall
11th January 2018