MBO Manager
MBO Manager
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.
Key Features
Personalized objective setting
Enables qualitative objective setting at the individual level within a set framework with the additional capability to bulk to define objectives for the selected group if desired
Configurable rating framework
Define an objective rating system, and approval workflow to align with organizational goals and guidelines
Process-driven evaluation workflow
An embedded multi-layered objective evaluation framework that can be configured to define the steps and the constraints
Objective process timeline management
Configurable objective setting timeline with an integrated notification approach to ensure high adherence to defined timelines
Differentiators
Life science ready incentive platform
Built-in tracking and validation framework to ensure high adherence and timely completion of the process
Configurable hierarchy exception management
Hierarchy management and interim manager delegation to account for leaves and any other last-minute HR exceptions
Embedded 2-way communication channel
Self-review with built-in collaboration to ensure 2-way communication. Constant guidance, coaching, and feedback ensure no end-period surprises
Configurable guidelines for notifications
Configurable reminders and notifications to ensure that the process is completed on time
One-stop objective process management
Embedded admin dashboard for objective process management and to view the performance of reporting reps on one screen
MBO Manager – Managing Objectives Made Easy
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.
Why Do Organizations Need MBO Management?
There are multiple reasons why organizations would choose to have an MBO manager. MBO goal setting can help them –
- Link impacted performance data with specific employees
- Improve performance by refining data quality
- Avoid delay in final performance data availability
- Facilitate other non-sales activities, including training, coaching, etc.
- Define actions for certain roles in stringent regulatory environments
Risk of Poor MBO Goal Setting
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 –
- Subjective evaluations can spread the perception of unfairness or favoritism.
- Reduced differentiation among salesforce could make better performers discontent and unmotivated.
- Increased administrative burden for field management.
- Instead of ‘managing the performance,’ it could lead to ‘managing the manager.’
Best Practices for Creating an Effective MBO Program
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 –
- Educating managers to set goals and objectives by referring to the SMART framework (Specific, Measurable, Achievable, Result-Oriented, Time-Bound)
- Proactively communicating the desired activities and linking them with the expected outcome
- Taking updates, guiding salespeople, and providing feedback whenever necessary
- Designing a measurement scale to differentiate performance according to different achievement levels
- Defining strong process governance and incorporating an all-round communication framework
- Identifying the right set of tools needed for summarizing and using MBO outcomes at the time of performance appraisal.
Get Your MBO Manager Today!
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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