Objective Setting Workshop [1]

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Management tool used to assist managers in their process for planning and achieving goals, targets and objectives.

Published in: Business, Technology

Objective Setting Workshop [1]

  1. 1. PERFORMANCE OBJECTIVE SETTING (a tutorial)
  2. 2. 01/31/15 Objective Setting
  3. 3. 01/31/15 “If you do not know where you are going...how will you know when you have arrived?”
  4. 4. 01/31/15  REFRESHER ON KEY TERMS GENERIC TO PERFORMANCE MANAGEMENT  GOALS and OBJECTIVES  SETTING OBJECTIVES ¤¤ Why should we write objectives? ¤¤ What is a SMART Objective? ¤¤ Evaluating an Objective ¤¤ Focus: PERFORMANCE OBJECTIVES ¤¤ SMARTER Performance Objectives  SETTING PERFORMANCE STANDARDS ¤¤ Performance Indicators & Standards  GFB BUSINESS PLAN 2006-2007  PRACTICE TIME!!!  CONCLUSION / Integration ContentsContents
  5. 5. 01/31/15 Refresher on Key Terms (generic to PERFORMANCE MANAGEMENT)  Definitions (PMS)  task, function, role, job, job description  competencies  domain  results, measures, indicators, standards  organizational goals  aligning results  weighting results  performance plans  observing, measurement and feedback  performance gap, developmental plans
  6. 6. 01/31/15 WARM UP QUIZ!!!
  7. 7. 01/31/15 GOALS and OBJECTIVES Goal * a statement that explains what the Bank wishes to accomplish; sets fundamental, long-range direction. Program Objectives * specific statement that explains what the units will accomplish in order to fulfill Bank‘s goals. Supporting Objectives * a statement that describes what (Performance Objective) the units need to accomplish in order to fulfill program objectives * a statement about what an employee is expected to achieve during the performance management cycle.
  8. 8. 01/31/15 THE GOAL/OBJECTIVE GRID I Achieve II Avoid III Preserve IV Eliminate DO WE HAVE IT? DO WE WANT IT? No Yes NoYes
  9. 9. 01/31/15 Setting Measurable Objectives WHY? WHO? WHEN? HOW?
  10. 10. 01/31/15 Here is HOW to be SMART! Be SPECIFIC Be MEASURABLE Be ATTAINABLE Be RELEVANT Be TIMELY
  11. 11. 01/31/15 Specific Objectives must express the action and results required so that both the staff member and supervisor can see clearly whether or not the objective has been achieved Measurable When setting objectives, there must be some way of measuring and verifying whether the objective has been achieved and to what level Achievable/ Attainable Although they should provide challenge and development to the individual, objectives also must be achievable Relevant The objectives must be relevant to the level at which the individual is at their career and to the priorities and workload of their particular area Timely Objectives need to have clear time frames attached to them. Although the performance development and review process is annual, objectives can be set for longer time frames.
  12. 12. 01/31/15 The SMART Objective Framework An objective to be SMART, it must answer the following questions: WHAT ? HOW ? WHY ? WHEN ?
  13. 13. 01/31/15 Remember: to develop an objective, start with an action verb. Then answer the WHAT, HOW, WHY and WHEN. Example of a SMART Objective GOAL: Train Officers to write measurable objectives. SMART Objective: What: Train GFB officers to write measurable objectives How : by conducting interactive lecture and workshop Why : in order to increase their ability to assess broad goals and be able to break them down to related smaller activities When: at the end of the session.
  14. 14. 01/31/15 Objective Setting Exercise Think about...  What  How  Why  When
  15. 15. 01/31/15 Focus … the EMPLOYEE Why have performance objectives? How do I support my staff to write effective POs?
  16. 16. 01/31/15 PERFORMANCE OBJECTIVES  A mutually understood agreement about what an employee is expected to achieve during the performance management cycle. It does not cover all of the activities he must do. It is direct link between work the employee does and the Unit and Company‘s objectives.
  17. 17. 01/31/15 AGREED Objectives - Example  Objective #1 : Conducts TNA through interviews with Group, Branch and Division Heads to assess their priority developmental needs within the 1st quarter. Objective #2 : Reduce training budget cost by 10% thru recycling of resources and materials at the end of the 1st semester.
  18. 18. 01/31/15 Evaluating #1  It is SMART… and your staff happy and excited to do the job because maybe he likes to hone his interviewing, writing and teaching skills. He likes to be creative. Yet, he also feels scared because he is made accountable for it.  He finds his objectives SMARTER
  19. 19. 01/31/15 SMARTER vs. DUMBER  Specific Dull  Measurable Unrealistic  Accountable Mediocre  Relevant Boring  Timely Evaporating  Exciting Rote  Recorded
  20. 20. 01/31/15 PERFORMANCE INDICATORS Measures and Targets (How will I know that I’ve gotten there?)  Performance Indicators provide a measure of performance.  They are a means by which a staff member and supervisor can assess whether the objective has been achieved.  Demonstrate progress  Separate real from perceived change and performance  It often relates to Measures like:  Quality  Rate or Quantity  Timeliness  Expense  Quantity
  21. 21. 01/31/15 ACTION PLANS  ACTION PLANS answer the question ‘What do I need to do to achieve this objective?’  Action Planning aids achievement of objectives if they:  Are developed by the employee  Ensure early identification of requirements including assistance needed from the supervisor, activities involving others, skill needs, etc  Facilitate monitoring of progress by the staff member  Assist identification of why an objective is not achieved  Most useful if reviewed and revised reqularly. *Revisions of objectives must only be done if such are beyond the control of the employee.
  22. 22. 01/31/15 PLANNING for DEVELOPMENT  Planning for short-term professional development to support achievement of objectives can be guided by the following questions:  What skills, knowledge, behaviors need to be developed to ensure the staff meets the agreed objectives?  What resources are required?  What does the supervisor need to do to support the achievement of the objectives?  What follow up meetings need to be set?
  23. 23. 01/31/15 The Performance Analysis Quadrant
  24. 24. INTEGRATION
  25. 25. GOAL-- OBJECTIVE EXERCISE
  26. 26. 01/31/15 PRACTICE TIME !!!  Goal # 1 - Financial growth and stability  Goal # 2 – Organizational efficiency  Goal # 3 – Human resource development
  27. 27. 01/31/15

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