What Is The Importance of Goal Hierarchy?
In today’s issue …
- Make Things Happen with Goals
- less than 270 words, total reading time 2 minutes
Hardly anyone would argue goals are not important; in life or in business. Yet, many of us find it hard to create the discipline to set and work against meaningful goals. Last week, we explored weekly scorecards, to give the team continuous updates on progress (early).
Weekly scorecards are just one of the structures you might consider for driving the organization. If you think about things in Weeks, Months, Quarters and Annually, you might be able to tie it all together.
Big Goals start with the Year
Typical ones might: Revenue Growth, Profit Levels, People Development, Cash Improvement, New Trade Partners, Service/RMR Income, etc. Try to stick to 4 or 5 maximum.
Quarter Goals (or ROCKS as EOS calls them)
Getting detailed specifics on how to get to the bigger goals is the objective. Each Department's goals would echo the bigger goals in more detail. This Quarter we will: write X% more business, turnaround proposals faster, speed up our Request for Payment process, close more service plans, bill more hours per tech, hire a key employee, etc., etc. Progress needs to be monitored at least monthly, individuals need to know when they are behind.
We suggest using the dashboards (bi4ci) for this feedback. If your direct reports submit monthly business summaries; they should have specific (to them) goals to report on.
Back to the weekly scorecards. Timely, feedback is critical to making adjustments and corrections. Make sure you have bookings, billings, billed hours and cash collection measures being reported each week.
Your biggest challenge will be to make this seamless and easily communicated in your organization. Build a culture with it in it and you will do well.