Did you know that fewer than 10% of those who make New Year’s Resolutions keep them? It’s so common that there is a National Quitters Day: this year, it was Sunday, January 17th.
Many employees use the New Year as a time to set work goals as well, but goal setting is a year-round activity in business. When goals are set effectively, employees are much more successful meeting them!
SMART Goal Setting
You may be familiar with this acronym for goal setting:
S: Specific. The more specific, the better.
M: Measurable. Define how you’ll measure success.
A: Attainable. A goal should be a stretch, but achievable within your timeframe.
R: Relevant. Aligned with company goals, ideally set with management.
T: Time-based. Set a reasonable time limit within which to reach your goal.
Employee incentive, reward and recognition programs offer an effective framework for goal setting and achievement. Today’s employee programs focus on more than just productivity or sales increases; safety and wellness are also top concerns for management.
There are proven steps to designing successful employee programs that when followed, are advantageous to both the employee and the organization. Incentive, reward and recognition programs communicate what’s important to the organization and set expectations for employees. When expectations are met or exceeded and employees are recognized with meaningful rewards, everyone benefits: Employee engagement increases, the company culture becomes more positive, productivity and profitability improves, employees are healthier with fewer accidents, insurance and work comp costs decrease, turnover rates decline and more.
People focus on what is measured. Goal setting as part of an employee recognition program encourages teamwork, keeps everyone motivated, increases morale and focuses effort where it’s needed and documents success. To get started setting effective goals as part of your effective employee reward and recognition program, contact one of our incentive professionals today!