“ Stretch goal is defined as another goal you set for your
project after an initial goal has already been achieved. It is used
to get additional funding, performance or results beyond your
current capacity and output.”
- The five measurable stretch goals for workflow are as follows
and can be measured by making them SMART-Specific, Measurable,
Achievable, Realistic, Time-bound.
- HR Goal: Recruit a team of 100 employees with 3 weeks Human
resources which is actually requiring 3 months plan. This is
achievable if HR manager pushes his performance and works extra
time. He has to stretch his working hours to meet the goal.
- Customer Service Goal: Improve customer service and get a 100%
result within 3 weeks which normally would take 3 months to
achieve. The team has to work extra to train customer-facing
employees to rework the customer service experience, the customer
service feedback now measured around 50-60% has to be increased to
100% by fine-tuning employee response, improved response times,
reduce wait time, reduce the number of complaints to zero. The
customer service can be measured again after 3 weeks to measure the
results of the activities listed.
- Marketing Meet: Plan a marketing event within 1 month which
would normally require 6 months to plan. The marketing event to
motivate and train the marketing team normally takes 6 months to
book and organize the show like the plan the guest list, trainers
list, location etc. The marketing organizer has to push his limits
and put in extra hours along with his team to coordinate with all
stakeholders and relevant outsourced facilities to pre-pone the
event. This can be successfully implemented by close coordination
and stretching the limits of the team.
- ERP implementation: Efficient implementation of ERP in the
organization within 2 weeks instead of expected 4 weeks. The IT
team has to collaborate with ERP team to put in extra hours at work
and ensure quick implementation of the system. The IT has to
coordinate with other departments also to upload their information
by putting in extra hours within established deadlines.
- Reduction in Manufacturing Process: Reduce the manufacturing
lead time from 1 hour to 30 minutes within 2 weeks without changing
the machinery. The workers and team members have to reduce
inefficiencies and reduce breakdowns or wait times, they need to
put extra efforts to coordinate and ensure a continuous supply of
components and raw materials to reduce the lead time, extra
manpower might also be required. We can measure the reduction in
time of manufacturing on a daily basis.
- The five measurable stretch goals for effectiveness ratio are
as follows:
“Effectiveness ratio or cost-effectiveness ratio is defined as
the ratio of change in costs by a change in process or effect.”
These can also be measured by the impact in costs by using SMART
goals.
- Manufacturing costs: Reduce manufacturing cost by 20% by
reducing manufacturing time from 60 minutes to 45 of a sedan car.
The manufacturing cost per sedan reduced can be measured by the
impact of improvement in process and reduction in manufacturing
times.
- Customer Turn around: Improvement in customer service and
profitability by reducing customer handling process time from 3
days to 24 hours. In
E-commerce in order to delivery reduces from 72 hours process to
24 hours, increasing cost-effectiveness and simultaneously
increasing customer satisfaction levels.
- Sourcing of raw material: The reducing in raw material sourcing
and supplying by improving and implementing the process of purchase
through ERP systems. Reduction in sourcing and inventory carrying
cost by 25% by improvement in the process.
- Waste Management: Reducing waste by 15% by efficient use of
tools and dies reduces costs by 10%.
- Reduction in the use of paper: Make a paperless office and
encourage the use of e-communication and remove papers totally
contribute to saving 15 % of office equipment and stationery
costs.
The stretch goals are normally not achievable but can be
achieved if planned in a systematic and planned manner.