As businesses approach the year-end, it’s time to start thinking about year-end numbers, reporting, and the planning process for the upcoming year. Soon, calendar invites for The Dreaded Annual Planning Session will arrive. Many companies express frustration with strategic plans, saying things like, “Yeah, we created a plan at the end of last year, but it was outdated within two months. It’s totally worthless to us now.”
But it doesn’t have to be that way! By setting goals that are SMART—Specific, Measurable, Achievable, Relevant, and Timebound—while also being adaptable to new information, you can avoid being in the “We made a plan but now it’s useless” camp. In fact, adjusting your goals is not a failure; it’s a learning process that can drive greater buy-in from your team.
Let’s break down how to ensure strategic goals remain relevant, even as (and maybe especially when) circumstances change.
Review Your 2024 Goals: Are They Still Achievable?
Pull out your 2024 strategic plan—it’s probably buried somewhere in your shared Drive. Are all the goals set for the year completely unachievable now?
If so, this may mean the goals weren’t realistic to begin with, or were created without enough information to be viable.
However, it’s more likely that some goals are still possible while others need to be revised. This is where rescoping comes in: update your goals to reflect the current reality. Rescoping doesn’t mean you failed; it’s about adjusting based on what you’ve learned and aligning your objectives with today’s circumstances.
This approach fits perfectly with the SMART framework—your goals should be both Achievable and Relevant based on your latest data and projections.
Evaluate Shifts in Priorities
Has so much changed that the priorities are completely different than when the plan was created?
If yes, either there was a massive external disruption (such as a global pandemic), or you were missing critical information when goals were set. Often, this missing information is financial data or market insights.
Once again, this doesn’t mean your entire plan is obsolete. More likely, some priorities need to be adjusted. The goal is to reassess and align your priorities with the current landscape—another core tenet of SMART goal setting, ensuring your goals are Relevant to present realities.
A Practical Example: Employee Retention
Goal: Increase Employee Retention by X%
Employee retention is an important goal—if those employees are the right fit for your company. However, trying to retain employees who aren’t aligned with the company’s mission or who don’t contribute positively won’t benefit the organization in the long run. The key is to keep the right people. How do you do that? You hire, onboard, train, and support the right people to stay. Those actions are what is controllable. Not doing those things creates avoidable turnover—losing employees because the company didn’t do its part.
Revised Goal: Reduce Avoidable Turnover by Y%
Now you’ve moved from a vague retention goal to one that specifically targets the causes of avoidable turnover. But here’s the next challenge: How do you know if your initiatives—whether it’s a new bonus scheme or revised hiring practices—are truly working?
This is where the Measurable part of SMART goals comes into play.
Measurement Matters: Data as a Foundation
Before you can tackle avoidable turnover, you need accurate data. Are you tracking why people are leaving? Are you conducting thorough exit interviews to understand the real reasons for turnover?
If you don’t have the necessary data, then reducing turnover becomes a guessing game. Instead, the company might need to focus on:
Revised Revised Goal: Establish Data Stream to Identify Drivers of Avoidable Turnover
This goal is more aligned with current realities because it sets the stage for informed decision-making. By gathering data, the company can develop strategies based on evidence, not assumptions. Then can later set a specific numeric goal around avoidable turnover. The process of data collection itself is a specific result of the goal (do we have the data or not?), eventhough that result isn’t a traditional number. Any goal that yields a result like launching a new website, implementing a CRM, or completing an audit with recommendations for improvement still fits within the Measurable aspect of SMART goals.
The SMART Approach, Done Intelligently
While the SMART acronym is a great guide, goals shouldn’t be rigid or too narrow. Intelligent goals are informed, adaptable, and designed to drive desired outcomes based on reliable data.
So, as you dust off that 2024 strategic plan, consider rescoping some of those outdated goals to be both SMART and intelligent. This approach will allow you to remain flexible while staying true to the larger objectives of your business.
If you’re unsure where to start, don’t hesitate to reach out. Let’s dig into what you’re really trying to accomplish before the year is up. Together, we can ensure your goals are both achievable and aligned with the current business environment.