‌Goals Module FAQs

‌What is the Balanced Scorecard approach, and how does it relate to setting goals in HR Plus?

The Balanced Scorecard is a strategic management framework that goes beyond just financial metrics to measure organizational performance. Instead of solely focusing on profits, it encourages a "balanced" view by incorporating four key perspectives:

• Financial: Tracks financial performance (e.g., revenue, profitability).

• Customer: Measures customer satisfaction and relationships (e.g., retention, satisfaction surveys).

• Internal Processes: Focuses on the efficiency of internal operations (e.g., production time, defect rates).

• Learning & Growth: Emphasizes employee development and innovation (e.g., training, knowledge sharing).

  HR Plus uses the Balanced Scorecard to provide a structured way to set goals that align with your company's strategic plan. When setting up goals, you categorize them under one of the four perspectives, ensuring a balanced approach to achieving overall organizational success.

  ‌How are goals cascaded in HR Plus?

  Goal cascading in HR Plus reflects your company's organizational structure. It starts with high-level Company Goals derived from the strategic plan. These goals are then broken down into more specific targets for different levels:

• Company Goals: Broad objectives reflecting the overall strategic direction.

• Divisional/Departmental Goals: Company Goals are translated into actionable targets for each division or department, ensuring each part of the organization contributes to the broader picture.

• Individual/Employee Goals: Departmental Goals are further broken down into individual employee goals, making sure everyone understands their role in achieving the bigger objectives.

  This cascading approach ensures alignment from top to bottom, with everyone working towards the same overarching company goals.

  ‌What are Goal Standards, and how do they relate to rewards?

  Goal Standards define the desired levels of achievement for each goal. You establish predefined criteria for different performance levels, such as:

• Exceeded Expectations (5 points):

  The employee has exceeded the goal by achieving more than 100% of the target. This indicates outstanding performance, where the employee has gone above and beyond the set expectations and contributed additional value.

• Met Expectations (4 points):

  The employee has achieved 100% of the goal. The target has been fully met, and the employee performed effectively within the required standards for the goal.

• Slightly Below Expectations (3 points):

  The employee achieved between 80% and 99% of the goal. While the goal was nearly reached, there were minor gaps in performance that could be improved.

• Moderately Below Expectations (2 points):

  The employee achieved between 60% and 79% of the goal. This reflects a notable shortfall in performance, with several key aspects of the goal not being met.

• Far Below Expectations (1 point):

  The employee achieved less than 60% of the goal. Significant improvement is needed as the goal was largely unmet, and performance fell far below the required standard.

  Each standard is associated with a specific number of points. When an employee achieves or surpasses a particular standard, they earn the corresponding points. These points provide a clear and objective measure of their performance against set targets, contributing to their overall performance evaluation and potentially influencing rewards or recognition.

  ‌How do I track the progress of goals in HR Plus?

  HR Plus offers multiple ways to monitor goal progress:

• Progress Reports: Employees regularly submit progress reports outlining their achievements toward their goals. These reports can include quantitative data, qualitative summaries, and supporting documents.

• Progress Bar Chart: A visual representation within HR Plus shows the target and the actual progress made, providing a quick snapshot of the goal's status.

• Progress Graph: Offers a more detailed visual representation of progress over time, allowing for a better understanding of performance trends.

• Goal Grid: Displays all goals within a selected category and company, showing the calculated totals for targets, weights, and results.

• Goal Chart: Presents a visual overview of goals using pie charts, categorized by the four perspectives of the Balanced Scorecard. You can drill down to view specific goal details.

  ‌What are Goal Dependencies, and why are they important to manage?

  Goal Dependencies are external factors or obstacles that can potentially hinder the achievement of a goal. These dependencies might include:

• Budget limitations

• Lack of necessary resources or tools

• Delays in other dependent projects

• Inadequate training

It's crucial to identify and manage dependencies proactively. By recognizing these roadblocks early, you can develop mitigation strategies and allocate resources efficiently to ensure your goals stay on track.

‌Can goal targets be adjusted after they have been set, and how is it done?

Yes, HR Plus allows for adjustments to goal targets. This flexibility is crucial because circumstances can change, priorities might shift, or initial targets might prove unrealistic. Managers can use the "Adjustable Targets" feature to modify existing targets. The system automatically recalculates the overall target based on the adjustments made, ensuring that performance tracking remains aligned with the most current objectives.

‌What happens to goals at the end of a financial year?

At the end of a financial year, goals are closed or archived. This process typically involves:

1. Creating a New Financial Year: A new financial year is set up in HR Plus.

2. Closing the Current Financial Year: The current year is marked as "Closed," making it read-only and archiving all associated goals.

3. Duplicating Repeatable Goals (optional): Goals marked as "Repeatable" are automatically duplicated into the new financial year. These duplicated goals can then be reviewed, edited, and assigned as needed.

Archived goals are still accessible for historical reference and performance analysis, providing valuable insights for future goal setting and strategic planning.