The importance of setting realistic goals

Joanna Reynolds at Bordeaux & Burgundy explains the importance of drawing up relevant and achievable objectives for employees

 

Amid the current economic turbulence impacting business growth and backdrop of the ongoing Great Resignation, it is becoming increasingly valuable for employers to pause and evaluate how their business operations affect their employees. 

 

Operations and employees are intrinsically entwined, and one cannot flourish without the other. So, drawing up realistic goals for employees is a crucial element in driving business growth and fostering a positive and inclusive workplace culture. This approach can help to attract and retain talent, mitigate the risk of burnout, and promote continuous improvement and innovation.

 

Setting realistic goals gives employees something to work for, enhances their experience at work, and motivates them to work towards achieving their targets. Meeting and exceeding goals should be celebrated across all departments to build a sense of camaraderie and teamwork.

 

Employees who feel like they are part of a team working towards a common goal are more engaged and motivated at work. This will lead to improved productivity and greater job satisfaction.

 

Strategy and planning are a must: they are the foundation for both company and employee goals. In order to achieve goals and scale up successfully, employers have to recognise the importance of having a clear strategy and plan in place. This includes identifying key priorities and initiatives, setting timelines and milestones, and allocating resources and budgets fairly.

 

However, an understanding of the need for flexibility and adaptability is also crucial, as unexpected challenges and opportunities may arise.

 

Realistic goals are key to prevent the risk of burnout, which significantly affects employees across all areas of an organisation. By setting realistic goals, employers can mitigate the risk of fatigue and ensure that employees remain positive and engaged with their work.

 

Goal alignments

When composing strategy plans, businesses should also look to align their practices with future goals and base decisions off these, while keeping to their company culture and brand values.

 

One key question that must be considered in this process would be: is everyone involved working towards the same purpose? For a business and its workplace to thrive, it is essential for the workforce to be aligned in mission, vision, brand and values.

 

Open communication

Open communication is another crucial element in building a positive and inclusive workplace culture. The average UK employee will spend roughly 3,515 days working in their lifetime, so it is essential to form and maintain good working relationships. Employers should stay open and honest with employees about work ethics, and colleagues should remain aware of varying work-life balances. 

 

Paths to goals can sometimes change and shift over time, so open communication is essential for the flexibility needed to keep working towards this. If one way isn’t working, employees need to feel that they are able to say something and be heard. 

 

Instead of constantly trying to drive business growth, businesses should also take the time to review overlooked workplace factors, such as micro-managing, that can impact employee mental health and well-being. Employers should be aware of their employee’s workloads and provide them with the necessary resources and support to ensure their success and ease processes if needs be. 

 

Research reveals that 86 per cent of workers would be more likely to leave a job if it did not support their wellbeing, and four-fifths were attracted to companies with a “progressive company culture”. Therefore, giving employees a voice and platform is becoming increasingly important, and also allows them to offer more of their expertise, unique to them.

 

Clear boundaries and expectations should therefore be set, and negotiated if needs be. By focusing on the well-being of their employees, businesses can improve morale, reduce turnover rates, and increase productivity. 

 

Best practices

The correct tools and space should be provided for employees to carry out their best practices, and if all involved are set on achieving the same goals, open communication will be key in excelling teamwork and innovative thinking. 

 

Keeping teams up to date with what the company goals are and making sure that the processes they have to follow will help them support those company goals is also crucial.

 

It is not enough to simply set goals and forget about them. Regular reviews and feedback are essential in ensuring that employees are making progress towards their objectives, and to making any necessary adjustments along the way. This helps to keep everyone accountable, and ensures that everyone is working towards the best overarching goals.

 

Investing in robust infrastructure, systems and processes that can support growth, such as reliable technology and communication tools, secure data storage, and scalable workflows is necessary.

 

Financial planning is also a critical element, including developing a realistic budget, forecasting revenue and expenses, and regularly reviewing financial performance to make informed decisions.

 

Building a strong foundation to scale up

However, building a strong team is the most essential element for creating a strong foundation. This means hiring the right people to do the right jobs, at the right time.

 

For example, hiring a Paid Media manager and giving them a goal of landing a client would be wrong as they are not being employed to generate new business. Do so and you set them and yourself up for failure. Instead, trust your employees to do the jobs you hired them for, according to their expertise. Provide ongoing training and development to boost their confidence and foster a positive and supportive work culture.

 

A good example of a realistic goal includes Account Managers aiming for positive client feedback. On a day-to-day basis, this translates to building a relationship, professionally hosting client meetings, providing valuable insights, etc. All tasks need to create value aligned with the business’s strategic end goals. 

 

Setting realistic goals and breaking down communication barriers are essential in today’s fast-paced and competitive world. A work environment where employees feel valued, appreciated, and have clear expectations set for them is best for everyone: at the end of the day, a happy and a motivated workforce is crucial for a prosperous business.

 

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Joanna Reynolds is MD at Bordeaux & Burgundy

 

Main image courtesy of iStockPhoto.com