The Management by Objectives aim at the workforce working in tandem. This is very crucial from the point of view of profits and turnover. A good team spirit and coordination are the most important aspects of a successful business enterprise. Working towards the same objectives is what the management and workforce have to strive at so that there is no mismatch in strategies employed. To make sure this happens, a manager has to set goals and objectives accordingly.
How management by objectives works
The management by objectives revolve around improving business by getting the most out of the employees. The main objective of a business organization is increased profits. The objective of an employee is to get the best remuneration and a satisfying job. A productive employee is the one whose job profile and remuneration are well matched. Also, performance related incentives give a boost to productivity of employees. In this way both the company objectives and the employee objectives are satisfied. Also, the workforce is not disjointed from the management but they work as one.
Types of employee related objectives
Employee productivity objective: The aim of a manager will always be to get the best out of the employees. A happier employee will be a more productive employee. So taking care of the employees needs, besides the usual wages is also very important for better manager-employee relationship.
Performance objective: Setting goals and objectives with regard to performance is very essential for success of the department. Once they are defined, each employee knows what his duties and responsibilities are. There is no place for ambiguity here. Clearly defined and explained goals will lead to definite success. Another aspect of performance objectives is first of all employing the right persons to do the right job. If there is a mismatch of talents and work assigned, there is naturally going to be some amount of inefficiency. In such an event, troubleshooting the problem should be handled on a war footing so that there are no long term issues.
Employee training objective: Keeping your employees updated on latest and easier methods of working is good for business. Training of employees at regular intervals keeps them in the loop. They feel they are more involved in the business as a whole. Also, it leads to better interactions between all the employees as well as between management and employees creating a more cohesive workforce.
Having realistic and achievable managerial goals helps a manager to succeed in creating a pleasant work environment. The employees are well informed and know what they are supposed to do in the workplace. Proper delegation of duties, cordial relations and optimum incentives will keep the workforce working towards success of the business organization.
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