A Very Keyne Way to Set Goals Continued

Last week we defined goals according to the Keyne Method.  This week we continue to outline the process.

Tension often exists between setting realistic goals and stretch goals. The Keyne Method creates a breakthrough solution for this issue; when outlining goals, define the criteria for meeting the goal, exceeding the goal, and missing the goal. The exceeded criterion allows you to create a realistic stretch goal. Almost everyone likes to produce results beyond their set goals. I noticed that my clients who follow this process focus on exceeding the goals. This method also forces you to really think about your goal. It is such a simple concept. It works quite elegantly. Of course, each target of meeting, exceeding, and missing needs to be quantifiable. Here is an example:

Goal: Attain $10 million in new sales revenue for 2019

Score

 

Definition

 

Missed

 

Attain $9 million or less in new sales revenue for 2019

 

Met

 

Attain $9-11 million in new sales revenue for 2019

 

Exceeded

 

Attain $11 million or more in new sales revenue for 2019

We encourage our clients to set goals in partnership with their manager. Employees that set goals with their managers really create alignment. It allows employees to define what they are actually committing to and allows managers to understand and agree to those commitments. I love this aspect; it is very powerful and positive. 

As I said previously, all goals have clear measurable results with a target date. Target dates ensure achievement of goals. Can you imagine a goal that said Company X will attain $250 Million Net Profit by whenever? Can you imagine the power of this? NOT! Compare that to saying Company X will attain $250 Million Net Profit within six months. Now that creates a game to play and a completely different outcome. 

Another aspect of this goal setting process encompasses flexibility. We all know that we live in tumultuous business times and things change on an hourly, daily, and weekly basis. If circumstances change and you accomplish your goal early…..no problem; your manager will score your goal and then you will set new ones. The flexibility of staying on top of your goals and keeping them always up to date through software is quite appealing and powerful. 

Goals can move the company forward into new territory. How? The Keyne Method suggests creating goals linked to the corporate initiatives; this process ensures implementation and support of the initiatives. Linking goals to the corporate initiatives requires employees and departments to define the piece of the initiative they take personal accountability for. God I do love saying that….linking to the corporate initiatives. The linking part gets to me because it is all so emotional.  

Before I leave goals and move on a word of caution….goals can confront people. For some employees and even managers having and setting goals is a fearful and risky exercise. Recently with one of my clients, I watched many key employees struggle with the concept of goals. They did not understand goals. When asked to define goals, they would name activities; fought defining clear measurable results for fear of being held accountable. If you confront this issue, have compassion, and stick with this process over time the stragglers will start to understand and design better goals. Hang in there – this goal setting process is powerful, useful, and will also support you in having a productive and performance-oriented organization. It is also very Keyne. Goal on!

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