Why You Need to Set Stretch Goals

Do you ever set yourself stretch goals?

These are typically objectives that go beyond the original ones. For example, you might have a target of 100 sales for the month of July. So you make your stretch goal 120. Instead of focussing on your efforts on achieving 100, you’ll work towards 120.

This is just one example of why it’s good to have stretch goals. Here are some other reasons why you should introduce it to your team this financial year.

It Promotes Creativity

One of the benefits of introducing stretch goals to your team is that it can force your direct reports to think a little differently. As you talk about these objectives, you’ll notice a range of emotions occurs within a matter of minutes. The first one is panic as they wonder how they will reach them.

But then, eventually, their mind will go into solution mode. They quickly realise they can’t do what they did last year to achieve the goals. What do they need to do differently? Some of these ideas will work, and others won’t. But they’ll try some new, which will help evolve and grow your team.

Stretch Goals Improve Performance

As part of implementing stretch goals, you’ll notice an increase in performance across the board. This should come naturally as new metrics are introduced, or growth is forecasted into your numbers. Even if your targets don’t change, you may be forced to do more with less.

As the stretch goals force you and your team members to push harder than the previous 12 months, their metrics will improve. When it starts to dip, this is a sign that the individual might need a break from work or extra coaching from you to help get them back on track.

It Increases Productivity

An improvement in performance also comes with an increase in productivity. You should find that stretch goals will make your team members maximise their minutes because they’re pushing harder than they usually do.

It’s no different from pushing yourself in any other activity. You might think you can only do ten pushups. But if you make the stretch goal 12, you’ll find that you can do the extra two just as easily. You just haven’t been pushed to.

You Can Identify Efficiencies

The increase in performance and productivity may also identify efficiencies. If you need to bump up your workload or look for opportunities to do more with less, then you’ll naturally have to review your current processes and workflows to see how they can be improved.

This benefit will also breed creativity and innovation. It forces your direct reports to think differently and ask themselves, “do we really need to do it this way?” This approach will benefit you, your team, and the business.

Make Stretch Goals a Priority This Financial Year

When you’re attempting to achieve stretch goals, you have to ensure you keep a close eye on your team members. You don’t want people working harder than they have to and burning out. You also need to ensure you recognise the achievements of achieving these objectives. You also have to prepare yourself that these results become your baseline next year.

If you need help achieving stretch goals, then make sure to follow the Better Boss Blog. You’ll find tips and tricks on how to use these objectives to motivate your team. Follow pwf services on LinkedIn, Instagram, and Facebook, so you never miss a post.

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