Why are some companies more successful in achieving their goals than others? What is the secret of high-performing companies with highly engaged employees year after year?
It should come as no surprise that defining and aligning goals at all levels is a critical component of their success. As a manager, understanding how to set strategic, clear, and actionable goals for your team can make the difference between success and failure. As an employee, knowing what you need to do to be successful in delivering results is equally important, as it will drive enhanced engagement and high employee satisfaction. The result is a high-performing team and decreased employee turnover.
To start, managers and employees should collaborate to create goals. Without a concrete target to aim for, individual employees might pursue their own assumed goals, instead of working as a team to pursue combined organizational goals.
Goal setting must be aligned with the company’s culture and stage in the corporate life cycle. In biotech, this generally forms two approaches.
For early-stage startups focused on de-risking the science and operating with lean internal resources: the goals should capture 3 to 5 key actions required to support the company’s broader goals or vision.
For growth-stage or mature organizations with advanced clinical assets and bigger teams: there should be clearly defined roles and responsibilities and an internal structure that lends to application of the S.M.A.R.T goal methodology.
CLICK HERE to download the full article, authored by Darren DeRosa, Senior HR Advisor.