‌Glossary of Terms found in the Goals Module

A

Actual Task Cost: The real, incurred expenses associated with the completion of a task, project, or goal. Adjust Targets: Modifying predetermined targets due to evolving circumstances, requirements, or performance evaluations.

Appraisal Link Options: Different methods or approaches for linking performance appraisals with specific goals or objectives.

Archive Goals: The action of transferring completed or obsolete goals into an archived state for historical reference.

Assigned By: The individual or entity responsible for allocating a specific goal to an employee, team, or department.

Assignment Details: Specific information related to the allocation of a goal, including description, scope, resources, and timelines.

Assignment Type – Self (Business): A categorization indicating that an individual has assigned a goal to themselves within a business context.

Assignment Type – Resource: A classification indicating that a goal assignment involves allocating resources such as personnel, time, and materials.

B

Balanced Scorecard: A strategic performance management framework that considers various perspectives (financial, customer, internal processes, learning and innovation) to measure an organization's success.

Budget Task Cost: The estimated or allocated cost associated with executing a task required to achieve a goal, usually specified within a predefined budget.

C

Cascading Goals: The process of aligning and connecting objectives at different levels of an organization, ensuring that everyone's efforts contribute to the achievement of the overall organizational strategy.

Challenge Points: Points or rewards earned for overcoming challenges, obstacles, or difficulties while working towards achieving a goal.

Company Culture (Goal Option): The inclusion of objectives related to company culture, values, or behaviors as potential goal options for employees to pursue.

D

Dependencies: Relationships between tasks, goals, or activities that determine their sequence or influence each other's outcomes.

F

Financial Year: The twelve-month period used for financial planning, reporting, budgeting, and goal setting within an organization.

G

Goal Name: A unique identifier or label assigned to a particular goal for easy reference and tracking.

Goal Parameters: Specific criteria, conditions, or limitations that define the scope and requirements of a goal. Goal Perspectives – Financial: A viewpoint within the Balanced Scorecard framework that focuses on financial metrics and outcomes.

Goal Perspectives – Customer: A perspective within the Balanced Scorecard framework that emphasizes customer-related metrics and objectives.

Goal Perspectives – Internal Business Process: A viewpoint within the Balanced Scorecard framework that centers on improving internal processes and operations.

Goal Perspectives – Learning and Innovation: A perspective within the Balanced Scorecard framework that highlights goals related to organizational learning and innovation.

Goal Plan: A structured outline detailing the steps, resources, and timeline required to achieve a specific goal. Goal Points: Points accrued based on progress or achievement towards a goal, often used for tracking and recognition purposes.

Goal Results: The outcomes, achievements, or deliverables that stem from successfully completing a goal. Goal-Setting Event: A structured and focused gathering where individuals or teams define specific goals and objectives aligned with the organization’s strategy.

Goal Specification: A clear and detailed description of a goal, outlining its purpose, scope, and expected outcomes.

Goal Standards: Defined benchmarks or criteria representing the desired level of performance or achievement for a specific goal.

Goal Start and Due Date: The designated start and end dates for initiating and completing a goal. Goal Status: The current stage or condition of a goal, indicating whether it’s in progress, completed, or paused.

Goal Target Result Calculation: The method used to calculate the outcome or results of achieving a goal’s target.

Goal Type: A categorization that classifies goals based on their nature, such as performance, developmental, strategic, or personal growth goals.

Goal Weights: The relative importance assigned to different goals when calculating an overall performance score or assessment.

J

Job Goal: A goal that aligns with an employee’s specific job role, responsibilities, and performance expectations.

L

Leader Board: A ranking or list displaying the performance or progress of individuals or teams based on specific criteria.

Linked Goals: Goals that are interconnected or related, often influencing each other’s outcomes or contributing to a larger objective.

Linked Tasks and Costs: Tasks or activities associated with a goal that impact its financial aspects and are interconnected.

M

Measure or KPI: A quantifiable metric or Key Performance Indicator used to assess progress toward a goal or objective.

Mission Points: Points earned by contributing to an organization’s mission or larger strategic goals.

My Goals: A section or feature within a performance management system where employees can view and manage their assigned goals.

P

Process Goals: Goals focused on improving or optimizing specific business processes within an organization.

Progress Reports: Periodic updates or assessments detailing the advancement and status of goals. R

Reporting Requirements: The criteria and frequency for providing updates or reports on goal progress. Rewards: Incentives or recognition provided to employees for achieving or making progress toward their goals.

S

SMART Goals: Goals that are Specific, Measurable, Achievable, Relevant, and Time-bound, enhancing their clarity and effectiveness.

Strategic Plan: A comprehensive document outlining an organization's long-term goals, objectives, and methods for achieving them.

Target Details: Specific information about the desired outcome or achievement of a goal.

Target Inverse: A scenario where the objective is to minimize or decrease a particular value or outcome. T

Task Level: The degree of detail at which tasks are subdivided within the context of a goal. U

Update Type: The manner in which progress updates or changes are communicated, such as real-time updates or scheduled reports.

‌Goals Module Update: Whats New?

November 1st – December 3rd, 2024

1. Goal Ratings/Allow Copying of Standards from Ratings/Restrict Manager’s Ability to Edit Goal Standards: A new screen and features were added.

Read more here.

August 16th – September 13th, 2024

1. Copy Standards from Higher Levels: This update allows copying standards from a higher organizational level to ensure goal alignment across departments.

Read more here.

November 4th – December 12th, 2023

1. Progress Report and Goal Grid: Introduced features to track progress on goals and visualize them using a goal grid.

Read more here.

May 17th – June 15th, 2021

1. Company Goals: Enhancements for setting and managing company-wide goals. Read more here.

December 4th – December 14th, 2020

1. Goals Audit: Added auditing capabilities to track changes in goal-setting and updates. Read more here.

October 29th – November 4th, 2020

1. Financial Year: Introduced the ability to align goals with the organization’s financial year. Read more here.

June 12th – July 7th, 2020

1. Create Goals - Manager: New features allowing managers to create and assign goals directly. Read more here.

   ‌What are some of the Pre-Requisites to using the Goal Module?

   
   

    Before using the Goals module, ensure the following steps are completed to maximize its effectiveness:

   1. Clearly Define Your Company’s Goal-Setting Process: Make sure the goal-setting process is well understood and aligned with your organizational strategy.

   2. Understand Goal Types, Targets, and Calculation Methods: Be familiar with the types of goals, targets, and how they will be calculated within the system.

   3. Identify Goal Setters: Ensure individuals responsible for setting goals at different levels—company, department, and employee—are clearly identified.

   4. Align Goals Across the Organization: Higher-level and lower-level goals should be precisely defined and aligned with the company’s objectives. Without clear structure and alignment, managers may assign goals directly to employees without alignment to higher-level goals.

   5. Set Progress Tracking Frequency: Determine how often progress updates should be tracked and reported (e.g., daily, weekly, or monthly).

   6. Agree on Weighting, Standards, and Points:

      • Define a numerical range for assigning Weights to each goal, up to 100, to reflect the goal's importance.

      • Establish user-defined Standards for each target, outlining the levels of achievement, and assign Points based on those standards.

Following these steps ensures effective goal setting, monitoring, and performance evaluation across the organization, helping align employee efforts with broader business objectives.