Setting company goals boosts performance by motivating employees to boost their work efforts and set priorities.
KPI Relevance for Smart Objectives
Studies show that setting company goals boosts performance by motivating employees to boost their work efforts and set priorities. A core element of effective performance management comes with establishing and tracking your company’s objectives. Using KPI objectives provides an excellent framework for hitting ambitious targets across the board.
KPIs allow you to build a high-performance team, align your company and employee objectives for a shared vision for the future. They are also a great way of performance measuring and target setting which can be monitored and updated at any time.
Effective KPIs will keep your company on track to spot problems and opportunities, allowing you to act on shifting trends and keep your projects oriented towards the relevant objectives.
In order to measure how effectively your company is achieving your key business objectives, you’ll most likely be using performance KPI objectives. To adopt a more effective approach to KPIs, you can use a performance management software which allows you to set KPIs and keep track of them in real-time.
At StaffCircle, we offer a performance management platform that sets your team up to succeed. The tool allows you to create an easy, quick and consistent review process across the business using either web or mobile.
Within the performance management software, you’ll be able to set KPIs for various teams within your organisation. These KPI objectives can be tagged in order to group various types of objectives across the organisation. These objectives can be set to individuals, departments or company-wide, which can be linked together.
When scoring these objectives, you can use a simple and logical yes/no or even percentage, numerical or financial amounts, depending on how you decide to measure your KPIs.
The objectives can also be set as one-off or automatically recurring at scheduled intervals and can be updated by the individual employee or their manager, through CSV file import or by a third party system or integration.
Everyone in the company will have their own objectives dashboard to give employees visibility and to promote departmental objectives. You can then launch a leader board that shows who is meeting their goals, plus much more.
To keep track of the KPI objectives and progress, you’ll need to use a tracker which provides insights into real-time progress.
With the ‘today’ screen, you’ll be able to view a real-time feed updated from the KPI objectives so managers can see progress in real-time. Based on single objectives, you’ll also be able to have conversations with the employee to keep track of the objective.