Setting Goals that Matter: Alignment SIMple Goals Cablevision Competencies Rating Definitions

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1 Setting Goals that Matter: Alignment SIMple Goals Cablevision Competencies Rating Definitions Introduction Cablevision is creating a new performance management process with four goals: Aligning our work with business goals Fairly evaluating your contributions and the way you achieve them Tying business performance to our individual and collective rewards Recognizing exceptional performance with greater rewards This new process begins with setting goals that are aligned up, down and across the organization so that everyone clearly understands what we re trying to achieve. Each person will have a limited number of goals that will serve as the basis for the year end evaluation of results. In addition, we will all be evaluated on the key competencies we are using as we achieve these results. Aligning Goals We want everyone to understand how their own individual contributions contribute to the achievement of organizational goals. Goal alignment involves ensuring that people from top to bottom and across an organization are working to achieve similar goals that are important to the success of Cablevision. There is great power in pulling in the same direction. We have a clear business strategy and goal alignment enables us to move quickly from strategy planning to execution. By ensuring that you understand what Cablevision and our respective divisions are trying to achieve -- and how your performance contributes to our mission -- we can focus our efforts on the most important goals. Goal alignment also helps to create ownership in Cablevision s success, resulting in more engaged employees and increased retention. Alignment with important goals can increase our motivation because there s a clear sense of how our work matters to the success of the organization. Your manager will share Cablevision s goals as well as goals for your division, function or department. That will serve as a starting point for understanding how your individual priorities can help to achieve the broader goals. 1

2 Setting SIMple Goals Effective goals are Specific, Important and Measurable. They help us to keep our eye on the vital few actions that will make a difference in Cablevision s success and our personal success. Specific shows the need for a clear goal. To make goals specific, they must describe what is expected, why is it important, who s involved, where is it going to happen and when the result will be delivered. A specific goal will usually answer "W" questions: What: What do I want to accomplish? Why: Specific reasons, purpose or benefits of accomplishing the goal Who: Who is involved? Where: Identify a location, if relevant Important is linked to the need to have a limited number of goals that reflect the priorities for Cablevision and for your work. A number of your goals will be aligned with company-wide and departmental goals and others may reflect results that are specifically linked to your role. Goals do not cover all the elements of your job responsibilities. Goals should reflect the vital few things that will make the most difference to achieving results. Measurable is about the need for concrete criteria for measuring progress toward the attainment of the goal. It answers questions regarding: How much and how many? Quality levels? Timeline for goal achievement, target dates? Sales, profitability or cost factors? Cablevision Competencies We believe that the way we go about achieving results is as important as the result itself. The Cablevision Executive Team has defined a number of competencies a mix of knowledge, skills and behaviors that we believe are critical if Cablevision is to achieve our business strategy. In our annual reviews we will all be measured on our use of these competencies as well as the goals we achieved. All employees will be evaluated on the Foundational Competencies and two additional competencies chosen because they are important to delivering their individual goals Foundational Competencies: Customer Focus Integrity and Trust Ethics and Values 2

3 Core Competencies: Collaboration / Building Peer Relationships Being an Effective Team Member Results-based Process Management Managerial Courage* Motivating Others* Communicating Vision and Purpose* *Relevant to those who manage people and teams Getting Started for Managers Be sure that you have a copy of Cablevision s goals as well as your business unit / function s goals; share them with employees Be sure to use the Performance Planning Worksheet provided Draft your own goals and be prepared to communicate them to employees Meet with employees to collaborate on their goals and competencies relevant to the goals Target a total of 5 goals, with 2-3 being those that link into the broader goals and 2 that reflect the employees role priority In some cases, you may want to specify the goals and competencies; in other cases, you may ask employees for their input Review draft goals using the SIMple guidelines Make decisions and finalize employees goals Be available as a resource as they set about achieving goals. Provide feedback about their efforts, informally and frequently and at mid-year and year end on a more formal basis Communicate any changes that may be required in goals on a timely basis and explain why changes may be needed Evaluate employees achievement against goals and evaluate the way they used competencies to achieve results Communicate final ratings and next steps Getting Started for Employees Start with understanding Cablevision s goals and your business unit / function goals; reflect on how your work can contribute to achieving those goals Be sure to use the Performance Planning Worksheet provided Meet with your manager to understand their personal goals and the bigger picture; discuss your thoughts about your own goals and be prepared to discuss goals that your manager may assign Where you have discretion to propose goals that are related to your role, use SIMple guidelines to draft potential goals 3

4 Consider the priorities of your role and understand that not all job responsibilities will be covered in the goals Be prepared to discuss the Cablevision Competencies that are most relevant to your ability to achieve goals. Some of them will be developmental for you. Finalize goals with your manager, making any changes required so that you are very clear about what s expected and how it will be evaluated Act. Seek feedback from your manager and team members. Be prepared to provide feedback to other team members when asked to do so. Ask for help when you need it and be flexible if changes are required in the course of the year as a result of business needs. Provide input to your manager at year-end about your performance against goals and competencies. Participate in a review discussion so that you understand your achievements, ratings, development needs and next steps. New Rating System Your annual review consists of an evaluation of both your results against goals and your use of specified competencies in achieving the goals. Both are important and each will have an overall rating. Ratings are as follows: Elements Rating Weighting Goals (4-5 goals, linked to business goals and individual job priorities) Requires Improvement Valuable Contribution Strong Performance Outstanding Impact Developing Performance 60% Competencies (Maximum of 5 competencies, 3 foundational and 2 relevant to goal achievement) Requires Improvement Valuable Contribution Strong Performance Outstanding Impact Developing Performance 40% The Developing Performer rating is for employees who have been in their role for less than three months. Performance Definitions 4

5 Requires Improvement Goals have not been achieved to the expected level Planned results have not been achieved Deadlines may have been missed Established measures were not met Quality problems with delivery Competencies are not being demonstrated at the expected level Specified competencies have not been consistently implemented in the course of pursuing objectives Behaviors related to competencies have been problematic Valuable Contribution Goals have been achieved as agreed with your manager Standards have been met and measures achieved Timely completion Result achieved reflect expectations Expectations about results were exceeded in some cases Competencies have been demonstrated as agreed with your manager Has demonstrated behaviors needed to achieve goals Has demonstrated some competencies at exceptional levels Strong Performance Results achieved for the majority of goals exceeded expectations and measures of performance Results achieved have significant impact on Cablevision s business results Performance against goals was in the top group of peer performers Competencies were demonstrated at or significantly above expected levels Performance against competencies was delivered at an exceptional level Employees could be role models or mentors for these competencies AND/OR performance against competencies was delivered at an expected level and contributed to exceptional performance against goals Outstanding Impact Achievements linked to overall company goals and have had a significant impact on company performance and business results in 2013 Results achieved for the majority of goals exceeded expectations and measures of performance Performance against goals was in the top group of peer performers Employees nominated for this group will be calibrated against the other nominees for Outstanding Impact in a company - wide calibration session 5

6 Competencies were demonstrated at or significantly above expected levels Performance against competencies was delivered at an exceptional level Employees could be role models or mentors for these competencies AND/OR performance against competencies was delivered at an expected level and contributed to exceptional performance against goals Developing Performer This designation will be for employees who have been in a role three months or less at the time of the evaluation Goals may not have been fully delivered, given short tenure in the role The employee may also be learning competencies that have an impact on their goals and as such, are not in a position to be judged 6