Tips to set Annual Goals & Objectives

Anita Rao

January 2014

Agenda

Y?

Balanced Score card

Customer

Product

People

Finance

SMART Goals

Management Specific Goals

Conclusion

Y?

First plan the work then work the plan all year round

Balanced Scorecard Themes

4

People

Product

Finance

Customer

Customer

• Customer Management

• Selection, Acquisition, Growth, Retention

• Measures: NPS, Customer Acquisition, Retention, Satisfaction,

Profitability

5

People

Product

Finance

Customer

Product

• Product / service capabilities that deliver value

• Partnership

• Service and Support

• Brand

• Measures: Number of products/capabilities delivered,

Customer NPS, Time to Market, % of revenue from new

products/capabilities

6

People Finance

Customer

Product

People

7

• Human Capital

• Organization Capital (Leadership, alignment, teamwork,

culture)

• High performing teams

• Employee growth and development

• Measures : Employee NPS, Retention, Revenue per employee

Product

Finance

Customer

People

Finance

• Growth, Sustain, Harvest

• 2 broad perspectives

• Growth (Expand revenue opportunities, enhance

customer value)

• Productivity (improve cost structure, increase asset

utilization)

• Measures: Top line growth, cost efficiency, cost reduction,

8

People

Product Customer

Finance

What are SMART Goals?

Specific – state exactly what you want to accomplish

Measurable – how will success be measured

Achievable – stretch and challenging goals (use action verb)

Relevant – how is it tied to objectives and responsibilities

Time bound – specify target dates to guide by when the

result(s) are expected

9

Guidelines for Management Goals

Hire and Retain Top Talent

Train and Develop Team

Build High Performing Team (see presentation on High Performing Team)

Introduce and successfully implement best practices across team

Generic for Teams

Deliver successful products that delight customers

Customer NPS

Product relevant KPIs

10

Conclusion

Track and report progress throughout the year –

quarterly at a minimum

Ensure that KPIs or measures are

Actionable, accessible and auditable

Communicate results internally and externally

Celebrate and reward success!!!

Thank You

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