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Don't Set Goals, Set Standards The radical new approach to performance management.

By Leticia Corbisier

Opinions expressed by Entrepreneur contributors are their own.

Tom Merton | Getty Images

Having spent the past 20 years in Human Resources, for as long as I can remember, the yearly goal setting practice has been a dreaded exercise by most. Managers, employees and even HR professionals find the process cumbersome. It is bureaucratic, riddled with bias and often poorly executed. However, it is still one of the most used tools for measuring individual performance and allocating bonuses across organizations worldwide.

I am not saying that setting goals isn't an important element of measuring performance, but I am advocating that the way organizations do it is outdated and requires a new approach. In most cases, practicality gets lost in what often is a tick-box yearly exercise done in a hurry by leaders who are facing challenges that were not imagined at the time these practices were conceived. In the world of global pandemics, economic volatile markets and remote working demands, leaders need new tools to address new ways of creating value and high performing cultures. SMART goals just aren't appealing enough.

Thankfully, there has been a growing trend in business over the past few years to radicalize the workplace to make it more relevant for our reality today. This is why I have been researching alternative ways to increase performance and engagement while also making the process a more holistic experience for all involved.