Goal setting process is crucial for the business, especially if they are new. Setting the objectives first, then working towards those objectives is the common roadmap for growing. The reason for this commonness is that it works.
One of the most effective goal-setting strategies is called S.M.A.R.T. goals. This strategy suggests a goal should be;
To achieve all these features, objectives should be quantitative. Quantitative objectives are measurable, specific objectives. Being measurable and specific makes it easy to track.
But there is another type of objective that should not be undermined. Qualitative objectives are also an important asset for businesses that want to grow. Let’s dive more into the subject: qualitative objectives.
What are The Qualitative Objectives?
Qualitative objectives are subjective and non-measurable. These types of objectives are felt more than they can be measured. The satisfaction you had at the end of the road is the general measurement.
The importance of those kinds of objectives is usually undermined due to their unmeasurable nature. But using qualitative objectives in the right way could help you to achieve in life and business life.
How to Use Qualitative Objectives to Our Favour?
Most businesses use quantitative objectives on their goals because of their easy trackability. It’s okay to use quantitative objectives, but ignoring qualitative ones is a deadly mistake.
‘We should increase our sales by %50 by end of the year.’ is a very good example of a quantitative objective. There is no problem with using that kind of objective. But you must use qualitative objectives, too.
‘We will establish the best living standards for our employees in our industry.’ This is an example of a qualitative objective. After a company set this objective, it should be followed by quantitative objectives, like:
- We will increase their salary by %50 in 5 years.
- We will give them health insurance that covers all the medical needs they have.
- Our employees will work 4 days a week.
As you see, using quantitative objectives as a milestone to reach qualitative objectives is the way to grow.
By setting qualitative objectives, you are allowing your company to move in a way that will achieve those objectives. Quantitative objectives are your assistants in this way.
Also, setting qualitative objectives is a way for participating everyone in the company to achieve goals. Quantitative objectives like ‘improving our organic traffic by %50 until September’ are only for the marketing team. Other employees cannot help in this process. But having qualitative objectives will make everyone involved.
Qualitative Objectives Examples
We said that qualitative objectives cannot be measured. If you are confused are looking for examples of qualitative objectives, here they are;
You cannot measure your brand image. People will always have different opinions about your business, improving it would be good for your company. You can see some indicators like increased sales, but you cannot measure if it has improved or not.
More people that know about your business, means more brand awareness that you have. People need to be aware of your business to buy the product or service that you offer. You can set a qualitative objective to increase your brand awareness.
If your business is offering a service, you must satisfy the customers. Customer satisfaction is important if you want to have a customer base. If your customers are not happy with the process of buying, they will not buy from you, again. So, keeping customer satisfaction high is a priority for your business.
Keeping employees happy is a way to create a consistently growing business. Frequent staff changes will slow down your growing process.
For keeping your best employees in hand, and to be able to recruit the best talents, you should set yourself a qualitative objective to keep high employee satisfaction.