Business Goals that Go Beyond the Financials - FFC

Business Goals that Go Beyond the Financials.

happy construction

Creating strong business goals isn’t as easy as some think. Many people focus only on their financial goals, forgetting to set milestones for important factors that build towards financial success, like workplace safety, productivity, and employee and customer satisfaction. Setting and working towards goals for these aspects of your business can support your financial goals and create a better work environment for you and your employees.

Health & Safety

Avoid dangerous and costly situations by making health and safety a priority. Offer additional training to ensure employees are using tools properly and following all safety guidelines. Some examples of metrics you could track and create goals around include:

  • Reducing workplace accidents.
  • Implementation and completion of safety training.
  • Improving compliance with safety procedures.

Productivity

There are many factors that can impact your ability to keep your projects running on schedule. Material delays, individual performance and team performance are just some of the factors that can impact the overall productivity of your company. Productivity goals could be built on:

  • Employee attendance rates.
  • Tracking and maintaining inventory of supplies.
  • Creating and applying a system to organize tools and materials for secure, easy access.
  • Apply systems and standards to reduce wasted materials.

Employee Satisfaction

Keeping your employees happy can cut down on turnover rates and help ensure you have the manpower to keep your projects running on schedule. Find out what your employees like about their job and the benefits you offer as well as what they would like to see added to their benefits package. Something as simple as providing water and sports drinks on the job site could create a morale boost and increase employee satisfaction. You can also do a little digging to see what kind of perks other companies are offering.

Goals to improve your overall employee satisfaction could include benchmarks such as:

  • Reducing employee turnover rate.
  • Raising average tenure at company.
  • Surveying employee satisfaction with the aim to raise it.

Customer Satisfaction

Happy customers are more likely to provide repeat business and referrals, making it an important indicator of overall business success. Review your current processes to find ways to improve your customer’s experience (such as offering home improvement financing) and create follow-up procedures to reach out and inquire about their experience after project completion. Some customer satisfaction goals you could measure and improve include:

  • Amount of repeat business.
  • Number of referrals you receive from past customers.
  • Number or quality of online reviews.

A successful business is built on setting and reaching your goals, but knowing what you want to achieve is just part of the battle. Make sure you’re creating effective goals by making sure they are relevant, specific, measurable, and attainable. Get additional guidance on creating effective goals here.

You can build on us. Enroll today in the Foundation Finance dealer network. Contact us for more info: 1-855-241-0024, [email protected].

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Schofield, WI 54476

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