Economics/Business

What is goal management/Importance/Benefits/How to manage

What is the secret of companies that manage to achieve their goals and grow consistently? Still, why do others stagnate despite working hard? The answer lies in managing goals . goal management

As much as setting goals for teams and for the business is a difficult process for many managers, it is she who helps companies achieve results. 

In this content, you will learn the concept of goal management, its importance and benefits for the company and employees. Furthermore, to put it into practice, we will show you the way to make it effective in an uncomplicated way. 

What is goal management

In Latin, the word “management” means “action to manage”. Therefore, managing a company means managing existing resources. These resources are represented by three variables applied in the company’s strategic planning: time, money and people . 

In this sense, goal management manages these resources, seeking excellence in tasks. Consequently, it helps to achieve the goals set by the organization. Therefore, it must be present from the planning to the implementation and control of the steps. Thus, it will be possible to correct deviations and direct teams to the expected results. 

Importance of goal management

Establishing smart, tangible and challenging goals is important to encourage the company’s employees. In this way, teams feel motivated to achieve their goals and do so with determination and engagement . 

Benefits of managing goals for the company

It is quite common, in the business context, that not all employees understand the business strategies or what the organization expects from them. In general, this happens when the company’s goals are not aligned with the employees’ personal goals. goal management

Below, check out the main benefits of managing goals for the company. 

Profit margin growth

When employees know the company’s goals and know that they are aligned with their professional goals, they perform their functions more efficiently, increasing productivity . 

Thus, if the company produces more, it increases its profit margin organically. In this way, when the organization is engaged and working together, the opportunity to achieve established goals is real. 

Here, goal management is important to keep the flame burning between teams as they know their goals and can see them come to fruition. Therefore, teamwork, the feeling of belonging and the notion of responsibility reinforce the employee’s willingness and expectation to start and complete their goals. 

Ability to execute company strategies with more agility

Aligning the organization’s objectives with those of its employees allows the group to acquire the ability to execute strategies with greater precision and in less time. This is possible because leaders allocate financial resources more efficiently and guide teams well to achieve goals. 

In short, managers clearly understand the responsibilities required to achieve each goal and focus on specific tasks and projects. In this way, they manage to direct teams towards what really matters: the company’s real objectives. goal management

Reduced turnover

Employees aligned with the organization’s goals and engaged are more productive. Consequently, they work more committed and feel part of the business. This scenario contributes to the reduction and control of turnover , that is, the turnover of people in the company. 

That’s why goal management is so important. Since it allows the employee to visualize their role in the organization’s achievements. So he knows that his work generates results. 

Another positive point of applying a management model is the creation of an incentive program, which will serve to recognize talent and value them. 

Benefits of managing goals for coaching

The consultant, hired to assist the personal or professional development of employees , that is, the coach, also has advantages when using goal management. 

Identify the need for training

Identifying and understanding training needs for work teams is a task carried out internally and in an integrated manner. In this sense, the coach can help in the process.

Some practical actions used to survey the need for training are: goal management

  • performance evaluations;
  • technical evaluations;
  • Note;
  • application of questionnaires;
  • desktop requests;
  • meetings;
  • reports, analyzes and job descriptions;
  • shutdown interviews. 

Improves communication between managers and employees

Invariably, it may happen that a manager does not feel as close to the employee as he/she would like. In these cases, the coach uses goal management to improve communication between the parties. The benefits of effective communication are many. Meet some:

  • assertiveness in the processes;
  • employee engagement and motivation;
  • decrease in points of conflict;
  • improvement of the organizational climate.

Improves employees’ self-esteem

Professionals with low self-esteem have their work routine directly affected. This happens because the employee comes to believe that they are not capable of carrying out their tasks, resulting in frustration and procrastination. 

The consequence is low productivity, as it is directly linked to employees’ self-esteem. In these cases, the coach can bet on managing goals to place the employee in the context of the company.

The action involves strengthening self-confidence and setting real and attainable goals. Gradually, the professional believes in himself and in his potential to make the organization’s machinery work. goal management

Benefits of goal management for professionals

Goal management does not only bring benefits to the company. Professionals involved in the processes also gain advantages from the application of this method. Check out!

Stimulus for work teams

When employees know where the company wants to go and what to do to achieve results, their work has a purpose. It’s as if the teams have a right direction to go. 

For this, organizations can create strategies to induce (and motivate) their collaborators to achieve their goals. There are many ways to do this, even in those companies where the budget is limited. 

Some modes of encouragement have spent zero or cost very little. For example, we can mention: establishing a day off with pay, an exclusive space in the company’s parking lot or public recognition in front of co-workers. 

Incentive for team spirit

The human capital is the basis for the growth of the organization. These are people who, although different, go together to achieve common results. Therefore, without team spirit and unity among employees, it is possible that the goals will not get off the ground. 

But real, achievable goals give the business direction as well as a sense of urgency and purpose to the work. These factors directly influence the union of teams and the commitment of professionals working in the company. As a result, there is strong unity, commitment and team spirit. goal management

How to manage goals

In order to manage goals that really work and achieve results for the organization, we have listed some steps. 

Goal planning

Lack of planning does not contribute to the growth of an organization. In many companies, planning time is ignored or underdeveloped. As a result, managers create hard-to-achieve goals and end up discouraging teams. 

To avoid this problem, there are factors that must be observed when setting goals for the company , such as:

  • specific;
  • measurable;
  • achievable;
  • relevant;
  • temporal.

These factors, originally in English, form the SMART standard (Specific, Mesurable, Attainable, Relevant and Time-based). 

Therefore, to be successful in the planning stage aimed at managing goals, avoid that they are too generic, monitor progress, consider that they must be realistic and relevant. 

Still, all of this must happen according to clear and well-defined timetables. Preferably designed for the short, medium and long term. goal management

Implementation of goals

This is not the main step, but it is just as important as the first. A poorly executed implementation can disrupt the entire process. The responsibility at this stage starts with the managers, who must communicate the teams about new goals and resolve doubts.

These actions can ensure that employees understand what has been decided and are committed to the tasks. 

A good time to do this? Organize a meeting with your team, explain in detail what goals are important and why they will be implemented. To complete this step successfully: Offer rewards or advantages to further engage teams and achieve expected results. 

Monitoring and control of goals

After planning and implementing goals, it is time to monitor the performance of those involved. This step is essential in managing goals, mainly to prevent the interest of employees from being diluted and left aside.

Monitoring closely means offering constant feedback , signaling teams on how the path leading to the goals is being followed. Are the efforts being enough? Are employees getting closer or are they still far from the goals?

To reflect on these questions, it is worth holding new meetings to discuss, together, what can be done to qualify the performance and guarantee the success of the task. goal management

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