Self-service configurable platform to set, track rate, and approve non-sales-based subjective KPIs by leveraging defined guard rails along with built-in discussion / commenting capability. Configure objective setting, rating, and reporting features and vary them by division/salesforce with their desired hierarchy and approval workflow.
As a life sciences organization, if you want to improve the productivity of your workforce, you have to start by setting clear and measurable objectives. When your employees have well-defined targets, they will know what is expected from them. It allows your employees to channel their activities and ideas to work towards more effective and efficient results.
Management by Objectives is a management strategy that helps in cascading down of corporate strategic goals down to individual level goals depending on their function and expectations from their role. Management by Objectives (MBO) refers to defining non-sales-based performance objectives within the organization that are mutually agreed upon by the management and employees. As a strategy, MBO goal setting can significantly improve the alignment of employee actions with corporate strategic goals in certain type of situations. Setting objectives that are specific, measurable, achievable in a time bound manner is key to the success of a good MBO program.
MBO goal examples vary depending on the corporate goals, role of the employee and the product lifecycle. MBOs are usually set at the start of the defined cycle, which are later rated by reporting manager hierarchy for the calculation of final incentives and bonuses. These MBO plans can be managed comprehensively through an MBO manager the ultimate result of which is an increased consistency between actions and consequences, enhancing company productivity immensely.
There are multiple reasons why organizations would choose to have an MBO manager. MBO goal setting can help them –
When MBO goal examples are poor, it can cause several problems within the organization. Let’s take a look at how bad MBO management can affect your company –
There are certain things that must be kept in mind to create an effective MBO Management program. Here’s how you can design a better MBO program –
At Aurochs, our specialized MBO Manager can help create, manage, rate, and approve objectives/goals across your commercial, medical affairs and market access roles at various levels. With configurable objective setting, reporting, and rating features, you can streamline your workflow and align it with your organizational needs and guidelines. For life sciences organizations, KAMs/MSLs are most expensive channel & having things rolled out quickly with transparency has significant cost benefits.
With a conversational feature to discuss performance on objectives, our MBO Management platform enables employees to seek guidance from managers regarding their assigned goals. Similarly, managers can use the channel to offer ongoing feedback to improve employee performance.
Setting and managing goals couldn’t get any easier! If you’re interested in our MBO goal setting and tracking system, get in touch with us today!
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