The Targets process records financial targets or quotas set by a manager for a team member to achieve over a specified period. The Targets process includes setting targets, monitoring actuals during the active period, and recording comments by managers and team members on the level of success achieved.
Setting and maintaining Targets follows this sequence:
- A new Target is set by the Team Member's manager. The Target is set to Draft status.
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The Team Member is prompted to confirm the Draft Target. When confirmed the Target is Active.
- Team Members can review Active Targets and enter comments.
- Managers can edit Draft or Active Targets for their Team Members. Editing an Active Target returns it to Draft status for confirmation by the Team Member.
- Managers review Targets for progress, adding actuals, a progress rating, and any comments. Progress ratings indicate On Track, Above Track, or Below Track.
- When a Target has been achieved, or no more progress can be made towards it, the manager reviews the Target and sets the status to Closed.
Targets are typically positive values applied to profit centers within your organization. You can also create positive value Targets to apply as cost savings to cost centers; this release does not support negative values as Target amounts.
Actual values can be entered by a Team Member's manager as part of a Target review or edit