What Is Target Setting?
Effective Target Setting
An action plan of how the target will be met is an effective target setting. At the same time as target setting, planning for improvement should be done.
Measuring and Setting Cross-Functional Target Setup
Target setting is a critical part of a performance management system. The targets that are set at the beginning of the cycle affect the quality of the final results. Target setting should start with setting the company's goals and targets.
The lower levels of managers and employees should be cascaded with those targets. When the top management gets their own targets, they have to cascade them to the management level below them, and the one below them. The lowest level of employees are all the way to the top.
Steering company performance can be improved by setting cross-functional and focus targets. The top management of the company can decide to set one or more cross-functional targets which will demand coordination and cooperation of the activities of the respective functional areas in order to meet them. Setting one or more focus targets for all functional areas in the company is a useful thing for accomplishment of important tasks and projects on a company level.
Employee Performance in Target Setting
Employees who participate in target setting are more likely to perform better. The performance of employees who are on the front line is higher when managers set targets with them. Why? Employees feel they have more control over the outcomes.
Towards an Effective Performance Management System
Knowing how the different areas of your organisation are performing is a valuable information tool and a good measurement system will allow you to examine the triggers for any changes in performance which will provide a platform to manage performance proactively. After identifying key deliverables that drive your service performance and finding a way to measure them, the next step is to set performance targets to give everyone in the organisation a clear vision of what they should be aiming for.
Goal Setting and the Optimal Selection of Projects
It helps participants of all types to have relevant goals. They are useful for beginners and elite performers, for people who take part in health and wellbeing, and for those who are very competitive. A less active person may join a gym to get fit. A swimmer may want to compete in the Olympics.
Managing the Delivery Chain: A Top-Level Challenge for CIOs
To set and meet a challenging top-level target such as increasing company profits, other targets must be met right across the delivery chain. It will be harder to hit your target if the system is inefficient. Setting targets without monitoring the achievement of lower level targets can cause frustration.
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