Tips for Planning Your Business Goals for 2018

Even though 2018 has been underway for some time now, it’s not too late to plan your goals for the year. Setting goals for your business is critical. No matter when you come up with a plan, it’s bound to be beneficial.

Having goals that guide the activities of employees in every department and at all levels is a proven method of engaging people and providing motivation. And as you probably are already aware, employee motivation is one of the most significant keys to productivity and profitability.

Follow these tips for setting goals for this year and beyond.

Start out by setting long-term goals.

Think about where you want your business to be in five years, before you set your goals for 2018. Your long-term goals will have an impact on what you do in the next few months. It makes it easier to come up with a strategy for the short-term when you can answer the question, “Do these goals bring our company closer to meeting our five-year objectives?” If you can’t answer ‘yes,’ then you need to reassess or reprioritize your short-term operational goals.

As you set your long-term strategic goals, keep in mind what they are designed to help you accomplish for your company. Here are a few examples:

  • create a more positive public perception of your business by becoming involved in or giving back to the community;
  • increase your profit margin;
  • improve customer satisfaction; or
  • grow the company—new markets, more employees, or a larger facility

Create shorter-term goals based on what you see for the long-term.

After you have established the business’s three-to-five-year goals, you can begin looking at 2018. Any goals on this list should be there to help your business reach its strategic goals. Here is a method that can help you establish your organizational goals for the year. It goes by the acronym SMART, and it stands for each question you should consider before you add a new goal:

Specific. Your goal must be well-defined.  A general goal goes something like this: “I want to increase profits.” A specific goal would be: “I want to see our profit margin at 30 percent.”

Measurable. Your goals must be measurable so that you can track your progress and keep your team motivated.

Achievable. Of course, your goals need to be realistic, or you’re ensuring discouragement. They should make your people stretch to achieve them, but they must remain possible.

Relevant. Does this goal match up with your long-term goals? The goal must be important to you and your entire team. Remember, you will need help and support to achieve it.  

Timely. Can the goal be accomplished in 2018? You should have aggressive deadlines to keep everyone on track, but they also need to be practical.

Prioritize your goals starting with the most important.

Prioritizing goals based on importance will help you avoid conflicts. For example, if increasing production is your top priority, then the inspection department knows to ease up on quality whenever possible.

Is one of your goals to add valuable workers?

United Personnel has been providing staffing solutions to Western Massachusetts and beyond for over 30 years. We will use our experience and expertise to help you get a strong team on board. Contact us today, and we’ll get started!