Goals & Objectives Setting Confidential & Proprietary – For internal use and integration planning...
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Goals & Objectives Setting
Goals & Objectives Setting Confidential & Proprietary – For internal use and integration planning purposes only. Do not distribute. 2 2015/2016 Performance
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 2 2015/2016 Performance
Management and Total Rewards It is anticipated by end Q3, 2015, we
will introduce our new 2015/2016 Performance Management and Total
Rewards program including: o Philosophy, Principles & Process o
Materials and Tools o Education Program o Communication Process The
purpose of our performance management process is to establish and
align annual goals, encourage continuous feedback and drive
performance differentiation. Each of us deserves feedback on our
performance and support in our continuous growth and development.
2015/2016 Performance Management
Slide 4
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 3 Training Objectives
Understand the Organizations approach to Goals and Objectives
Setting Clarify the difference between Goals, Objectives and
Metrics Provide examples for effectively completing your Goals and
Objectives template Share next steps and action items for
employees
Slide 5
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 4 2015 Goals and
Objectives Setting Key Points Each Executive Leadership Team (ELT)
member will work with their management team to create 2015
goals/objectives and to ensure all employees create
goals/objectives. As an employee, you are responsible for: Creating
threefive meaningful goals/objectives, balancing performance and
one developmental goal/objective. Defining how each goal will be
measured for achievement. Documenting goals/objectives by May 31,
2015 using the recommended template. If you already have
goals/objectives documented in another format (i.e. Workday), you
do not need to re-enter them into the recommended template. Gaining
mutual agreement (with your manager) on your goals/objectives.
Maintaining an electronic copy of your goals/objectives until our
new performance program is introduced, at which time,
goals/objectives will be transferred into the new system. Note:
Goal weighting and weighting percentages are at the discretion of
each ELT member during this interim period.
Slide 6
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 5 Why Set Goals? Value
for Employees Need to understand areas of responsibility and
priorities Want to know how their efforts contribute to the bigger
picture Provide direction for development Value for Organization
Ensure that business units are headed in the same direction and
that team/individual efforts are aligned to support the business
needs Focus peoples efforts and attention on critical
priorities
Slide 7
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 6
Goals/Objectives/Metrics Defined: The What you will achieve Goals
are key outcomes to be achieved in order to fulfill your purpose or
mission. Goals establish long-term direction. Objectives are
specific, measurable steps toward the achievement of the broader
goal. Metrics are what you measure to demonstrate you have met your
objectives and achieved your goals.
Slide 8
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 7 Goals versus
Objectives GoalsObjectives Support achievement of larger purpose or
strategy Support achievement of goals Longer term for the year or
even beyond set annually Shorter term set each check-in period (at
least quarterly recommended) No more than 3-5 recommended for
yearScoped to be achievable within check- in period Aligned within
and across functions/departments and thus may not always change as
they cascade Employees objectives align with employees goals and
thus are individually-specific Communication of goals and
goal-setting at team meetings recommended to ensure alignment Set,
reviewed and discussed during one- on-one check-Ins between
employee and manager Should be clear and measurable enough to know
if they have been achieved, but may be broader and less concrete
than objectives Meet SMART* criteria define specific deliverables
to be attained within set period *SMART = Specific, Measurable,
Attainable, Relevant & Time Bound
Slide 9
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 8 Effective Goal-Setting
Define the vital few, overarching goals that must be achieved to
fulfill the purpose of the company, department or individual Set
annually, though some goals may have a longer time horizon May be
aspirational in a way that guides and motivates greater effort
(e.g. become #1) May not be perfectly SMART, but will be clear
enough so everyone will know if we are moving in the right
direction Should be communicated and aligned at all levels within
the organization and across functions contributing to the goal
through cascading goal alignment * 3-5 recommended
Slide 10
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 9 Example: Cascading
Goal Alignment (Manufacturing) Note: Sometimes goals may be the
same as the level above; often they will be modified to reflect the
contribution of department/team/individual to the larger goal
Company Reduce operating costs by 7%. Business Unit Reduce scrap
rate by 15%. Dept/Team Identify and eliminate top 3 causes of
scrap. Individual Conduct Root Cause Analysis.
Slide 11
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 10 Example: Cascading
Goal Alignment (R&D) Note: Sometimes goals may be the same as
the level above; often they will be modified to reflect the
contribution of department/team/individual to the larger goal.
Company Move two products into Stage V over the next two years.
Business Unit Meet or exceed Tier #1 project milestones. Dept/ Team
Complete CMC regulatory requirements for Project X. Individual Plan
and implement Project X process formulation activity.
Slide 12
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 11 Examples of
Development Goals Primary Purpose = Development of individualbut
organization/business also benefits Knowledge/Skills Critical to
Achieving Business Goals usually set individually, but teams could
all agree on same development goal and thus gain more traction;
e.g. strengthen leadership skills to improve retention of top
talent. Competency Critical to Achieving Business Goals Improve
ability to collaborate with colleagues in other locations. Use
process learned in recent Project Management program to run Project
ABC
Slide 13
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 12 Performance
Management Template 2015: EXAMPLE Employee Name: Raj Avari Title:
Senior Product Manager Date: 1-May-15 Manager Name: Sarah O'dell
Title: Marketing Director Signed: 1. Goal: (What) Develop and
implement business plan to increase market share of "X product" by
10% by Q4, 2015 Objectives Metric: % increase in market share each
quarter 2015 Goals & Objectives Excel Template Setting Goals
Use template to create each goal and associated metric(s)
Slide 14
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 13 Effective
Objective-Setting S pecific M easureable A ttainable R elevant T
ime Bound SMART Objective - example Partner with Project Management
to ensure that the XYZ Team launch meeting is conducted by June 1.
SMART Objective - example Partner with Project Management to ensure
that the XYZ Team launch meeting is conducted by June 1.
Slide 15
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 14 Examples of Business
Objectives Interpret market research to make strategic and tactical
brand decisions by end of Q2 Goal (Marketing): Develop and
implement business plan to increase market share of "X product" by
10% by Q4, 2015 Advance brand strategy through promotional
education programs, patient outreach, sales training, and
professional marketing on a quarterly basis Q2 Q3 Q4 Collaborate
with cross- functional partners internally and externally to
develop promotional and training materials by mid- year Sales
meeting
Slide 16
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 15 Setting Development
Objectives: How do people actually develop? Education Exposure
Experience Courses, books, professional associations, journals
Coaching, mentoring, feedback, networking, benchmarking, exposure
to new businesses/functions/people New responsibilities, stretch
assignments, task forces or project teams 10% 20% 70%
Slide 17
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 16 Examples of
Development Objectives Goal: Improve ability to collaborate across
locations. Q2 Q3 Q4 Monthly, have a virtual coffee with colleague
in another location; actively listen to better understand their
perspective. Complete an eLearning course on collaboration and put
at least one tip/tool into action. Work with my manager to identify
an assignment or project where I can get on- the-job practice to
development my collaboration skills.
Slide 18
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 17 Performance
Management template 2015: EXAMPLE Employee Name: Raj Avari Title:
Senior Product Manager Date: 1-May-15 Manager Name: Sarah O'dell
Title: Marketing Director Signed: 1. Goal: (What)Develop and
implement business plan to increase market share of "X product" by
10% by Q4, 2015 Objectives Interpret market research to make
strategic and tactical brand decisions by end of Q2 Collaborate
with cross-functional partners internally and externally to develop
promotional and training materials Advance brand strategy through
promotional education programs, patient outreach, sales training,
and professional marketing on a quarterly basis Metric: % increase
in market share each quarter 2015 Goals & Objectives Excel
Template Setting Objectives Use template to create objectives under
each goal
Slide 19
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 18 What You Need to Do
Now Create threefive meaningful goals, balancing performance and
one developmental goal. Define how each goal will be measured for
achievement. Document 2015 goals/objectives by May 31, 2015 using
the recommended template*.Gain mutual agreement (with your manager)
on your 2015 goals/objectives. Maintain an electronic copy of your
goals/objectives until our new performance program is introduced,
at which time, goals/objectives will be transferred into the new
system. *If you already have goals/objectives documented in another
format (i.e. Workday), you do not need to re-enter them into the
recommended template.
Slide 20
Confidential & Proprietary For internal use and integration
planning purposes only. Do not distribute. 19 Directions to the PMP
Website From the Our Winning Way website, click on the Actavis PMP
link: You can also access the site by copying and pasting the
following link: www.actavispmp.com