customers, etc.), you should define smaller goals that involve various departments and areas. Here, you need to think from a consumer perspective and an internal one for employees and other relevant stakeholders. For instance, you can set progressive acquisition objectives if part of the revenue...
The literature on goal-setting theory suggests that managers should ensure that all employees have specific goals and receive comments on how well they are doing in those goals. It’s really common in our daily lives, for example, a sales manager of a cellphone store has to sell at least h...
Looking at how employees and talent managers see things differently shows a key way to improve DEIB. Decision-makers need to turn their DEIB goals into actions that can be measured. So, this means considering how these goals affect stakeholders, like employees. Tips For Finetuning Your DEIB ...
Certify 100% of employees on OKR expectations and process within Q1. Whose OKRs are they? Do not make the mistake of setting OKRs and associating them with a single person. OKRs work for teams, not individuals. For example, Ophelia, a Chief Product Officer, might set her team’s OKRs...
While the initial goal-setting phase does require a lot of planning, a solid list of goals will focus employees on the purpose of the business, align the actions of all team members with short and long-term success, while keep employees motivated to blows the socks of your customers. ...
Example:A technology company aims to have 80% of its employees complete at least one professional certification within the next year. To achieve this, it offers financial support and study materials for employees interested in obtaining certifications, provides dedicated study time during working hours...
The lower you can get this number while still creating a quality product and maintaining happy employees, the better. COGS = year's initial inventory costs + inventory costs during the year – EOY inventory costs Gross profit: Use this KPI to track your profit after deducting the costs ...
OKR is not a tool for performance management. When implementing the OKR goal-setting process, make sure that the progress on OKRs does not influence financial compensation or personal performance assessment of the employees. What are some good OKR templates to use?
And rest assured—if you’re following the above steps in your goal-setting process, your employees should have a good idea of what their individual goals should be. Work with them to nail these down! 5. Make goals accessible to the team ...
Including current ratio as a KPI is most helpful if you need to prove your company’s liquidity to creditors or investors to take on a new project, buy new equipment, or hire more employees. 7. Quick Ratio A quick ratio KPI reveals the state of your company’s short-term liquidity, onl...