The importance of goal setting in Perform & Engage 365

Perform & Engage 365 users can benefit from the platform's goal-setting tools (using OKR or SMART goal frameworks). 

Goal-setting is a powerful tool for achieving success and increasing overall satisfaction and well-being, as shown by these stattistics:

1. Goal setting and achievement:

1.  
   • People who set clear goals are 33% more likely to achieve them than those who don't set specific goals. (Source: Dominican University of California, Gail Matthews Study)

2. Business and career success:

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   • 72% of employees in a selection of top US companies do not have up-to-date goals.
   • 14% have a plan in mind but are unwritten goals.
   • 13% have written goals but don't review them regularly.
   • 1% have clear, written goals with plans and review them regularly.
   • The latter 1% achieves more than the other 99% combined. (Source: Harvard MBA Study on Goal Setting)

3. SMART goals:

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   • Goals that are specific, measurable, achievable, relevant, and time-bound (SMART) are more likely to be achieved. SMART goals are 42% more likely to be achieved than non-SMART goals. (Source: American Society of Training and Development)
   • 87% of employees who regularly set and track progress against their SMART goals feel more fulfilled in their roles and are more likely to see a clear path for career advancement. (Source: Harvard Business Review)

4. OKRs:

• 70% of organisations that use OKRs report achieving 80% or more of their most important goals. (Source: OKR.org)
• OKRs help teams and individuals align their efforts with the company's strategic priorities. In a study by McKinsey, 90% of respondents said that OKRs helped their organisations to prioritise work effectively. (Source: McKinsey & Company)
• OKRs promote transparency and accountability within organisations. When asked, 79% of employees in companies using OKRs said that they understood how their work contributed to the company's goals. (Source: Workboard)

4. Goal setting and happiness:

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   • Setting and pursuing goals can increase a person's sense of well-being and happiness. People who set and work towards meaningful goals tend to be happier and more satisfied with their lives. (Source: Psychological Science)

5. Goal setting and engagement:

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   • In the workplace, 70% of employees say they're more engaged when they can set their own work-related goals. (Source: Gallup)
   • Employees who have clear, written goals are three times more likely to be engaged than those who don't. (Source: Gallup)
   • Companies that use OKRs as a goal-setting framework tend to have higher levels of employee engagement. Employees are more likely to feel aligned with the company's mission and objectives, leading to greater motivation and commitment. (Source: Gallup)