Most of us start the new year thinking of goals that we want to achieve in the upcoming year. The clean slate of the new year is the prime time to set new challenges for yourself. So as a business owner, you should be encouraging all your employees to set numerous goals this year too. There are a few factors that can help ensure that these goals are not only met, but surpassed. The most important factor is to make sure that your employees have a large say in the goal setting process. Do this by finding a few minutes to sit down and discuss each of the goals with your employees. They need to know you are interested in their goals, and you need to know they understand the goals of your business. Here are another few essential goal setting guidelines for you and your employees…

Create a vision

Where do you want to be in 5 years? Start dreaming. What does your personal and professional life look like 3, 5, and 10 years down the road. Now that you have the picture a little clearer you can define the little steps that will make your vision become a reality.

Personal goals

These goals are just as important as professional goals. Your employees are people outside of work too. As a manager or owner, show your employees that you’re are interested in them achieving their personal goals. If your employees feel driven and successful outside of work, then they are more likely to come into work feeling motivated. A balance of personal and professional success is very important. A slight tip in the scale may be very detrimental for both you and your employee.

Professional goals

These are perhaps the most obvious necessities for business owners and managers. Professional goal setting is extremely effective in driving productivity and efficiency within businesses. High performance teams all operate more effectively when they know the direction they are headed in and when they need to reach the destination. Goal setting will give everyone in your business a sense of purpose and it will increase accountability towards reaching the goals.

Stretch goals

Yes, we all want a few guaranteed wins during the year, but we also want some tough challenges. Encourage your employees to stretch a few of their goals. Make them a little more daunting. Most people will shy away from doing this due to fear of failure. However, if you’ve increased the mark of your previous goals by 25% and you only get 15% extra, that’s still a lot more than your previous target.

On track?

Ensure you assess if you’re on track or not. Do this regularly. Don’t leave it too far down the line and then your employees have to pull a miracle out the bag on the home straight. On the other hand, if your employees are absolutely smashing their targets, have a discussion and change the goal post. Keep your employees striving for more. Having to increase the goal will also boost self-esteem and fulfilment within the team. You will get more energised and productive employees, so you both win.