Helping your accounting and finance employees prioritize and set strong goals is essential for business success. Planning what your team should achieve in 2024 helps create a foundation for success.
Working with your employees on goal-setting provides steps that inspire and motivate them to attain your organization’s long-term vision. The results include increased employee engagement, productivity, and performance. These factors elevate employee morale, attraction and retention, and your bottom line.
Implement these tips to help your accounting and finance employees prioritize and set strong goals!
Develop SMART Goals
Your employees’ goals should be specific, measurable, attainable, relevant, and time-bound (SMART):
- Specify what should be achieved and why it is important.
- Clarify what the measurements of progress and success will be.
- Make sure each challenge can be overcome in a reasonable amount of time.
- Focus on the benefits of each achievement for the employee and the organization.
- Develop a sense of urgency to remain on track and reach each objective.
Create Similar Goals for Employees with Similar Jobs
Maintaining consistency in goal-setting for employees with similar job duties and responsibilities supports an environment focused on growth. Having employees work toward similar goals supports healthy competition to reach milestones and objectives. These activities help minimize employee frustration and resentment.
Monitor Employee Progress Toward Goal Attainment
Regularly check in with each employee to determine whether they are on track to reach their goals. Allow time to answer questions, provide constructive feedback, and offer support.
If an employee misses a deadline, help them determine what happened and how the issue can be resolved. Then, reset the deadline and follow up at the given time.
Reward Employee Goal Achievement
Recognize and reward each employee who reaches a goal. Include the steps taken to attain the objective and the impact on your company. Also, consider giving the employee a certificate, additional paid time off, bonus, pay increase, or promotion for their hard work.
Honoring employees who attain goals shows you value and respect their contributions and results. These actions encourage employees to continue their behaviors and increase their value to your organization.
Do You Need Help with Hiring?
Developing SMART goals provides your employees with guidance and motivation to increase their value for the organization. Also, creating similar goals for employees with similar jobs supports healthy competition to reach the objectives.
Monitoring employee progress toward goals helps your team stay on track and reach their objectives. Also, rewarding your employees for goal attainment encourages them to continuously increase their performance and elevate your company’s success.
If you need help with hiring, Casey Accounting & Finance Resources can provide you with skilled professionals who can help reach your business goals. Reach out to us to learn more today.