Annual Goals

Set Annual Goals

You might ask, How do I set annual goals in Khorus?

Whether your goals are annual, biannual, 7 months, or any period of time, in Khorus, you'll break down that larger goal into a quarter goal, using the goal measurement to define what success looks like for this quarter. With this approach, you're setting clear milestones or checkpoints to ensure you're making the progress you need to make throughout the year to achieve your annual goals.

Use the Goal Details to Describe the Annual Goal

Here's a solid way to use the three goal details fields.

Title: What's the high-level objective you want to achieve? Grow Revenue, Increase Bookings, Launch New Service

Description : What's the annual goal? Why does this goal matter? What else can you say to educate your employees about this goal—pretend you're writing an email to your employees.This is also a great place to spell out any part of your goal title that might not be readily understood by someone outside your department. Let's take the example of a goal for Net Promoter Score (NPS). It's a safe bet that someone doesn't know how NPS works. So when they see your measurement that might be Increase from 40% to 45%, they might say, Man, we're only going to make 45% of our customers happy? Write out the formula, or link to a great site that explains NPS. Another example is EBITDA. It's been a long time since Finance 101 for the rest of us—what does EBITDA stand for again?Write it out in the description so everyone understands what the number means.

Measurement: What does success look like for this quarter? At the end of the quarter, you'll use the measurement to answer the question, Did you achieve this goal? The measurement is the quarterly milestone you need to reach to be on track to achieve the annual goal. 

When you don't have regular and clear milestones and checkpoints, measurements for success, it makes it much harder to know if you're on track to achieve longer-term goals, such as annual goals, so that's why Khorus breaks down bigger goals into quarterly goals.

Quarterly Goals Enable Regular Feedback

By setting goals on a quarterly basis, you're giving every employee the direction they need, enabling them to narrow down their focus to the top priorities, which gives them a clear picture for what success looks like for both that employee and that employee's manager, and now the manager is able to provide the regular feedback the employee is looking for.

Example Annual Goal, Broken Down into Quarterly Goals

We want to set an annual goal to improve employee engagement. We've never formally measured employee engagement before, so our efforts here are going to last much longer than a quarter. Let's see how an annual goal for boosting employee engagement might look.
The annual goal: Be the employer of choice.

Q1

Title: Be the employer of choice
Description: This year, we’re making a priority to ensure that all employees have been provided the proper resources, receive regular and consistent feedback from management,and(anything else you want to communicate to everyone about why this matters to you. Remember, pretend you're writing an email to your employees; that'll result in the best description possible).
Measurement: (Remember, in our example, the company has never done formal employee engagement measuring, so before we can say “Increase employee engagement by X%”, we have to know where we are now. So for Q1’s measurement of the annual goal, we’ll say:) 100% participation in Gallup Q12 Employee Engagement Survey.

Q2

Title: Be the employer of choice
Description: This year, we’re making a priority to ensure that all employees have been provided the proper resources, receive regular and consistent feedback from management,  and etc. Last quarter, we learned that... (what were the strengths in the results? what were the weaker areas based on your survey results?). This quarter, senior leadership will work toward creating a planaddress our weak areas and ensure we continue in our strengths.
Measurement : Plan ready to execute in Q3

Q3

Title: Be the employer of choice
Description: This year, we’re making a priority to ensure that all employees have been provided the proper resources, receive regular and consistent feedback from management,  and etc. Now describe your plan.
Measurement: Execute that plan

Q4

Title: Be the employer of choice
Description: This year, we’re making a priority to ensure that all employees have been provided the proper resources, receive regular and consistent feedback from management,  and etc. Remind everyone what you did in Q1–Q3.
Measurement: Increase overall engagement scores by X%

Final Thought

It’s common to immediately want to jump to a bigger picture goal, an annual goal. And that’s great context to have in mind. But annual goals can’t be tracked regularly. It’s essential, at the company level, to tell the organization what success looks like for this quarter—what’s the milestone we need to get to do be on track for achieving the annual goals? Setting quarterly goals doesn’t mean you’re not tracking the annual goals; it just means that you’re breaking down that annual goal into smaller chunks so that we can see what and where success is and how to get there.