KRA Goal Setting Template. A quick guide to writing SMART KRAs. Template Courtesy of

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1 KRA Goal Setting Template A quick guide to writing SMART KRAs Template Courtesy of 1

2 Table of Contents What are KRAs (Key Responsibility Areas)?... 3 Why do we need them?... 3 How to write SMART KRAs?... 4 SMART KRA Template... 5 Here is an example of a filled-in KRA template... 6 Step-by-step demo

3 What are KRAs (Key Responsibility Areas)? KRA is a list of the most important tasks that you do every day to win at the workplace. It s a job description on steroids. A good KRA includes the on-going responsibilities of the position, and the purpose and benefits of performing those responsibilities. Tasks and activities that focus on one or more specific areas are grouped together. Whatever the expected scope of work; must be in writing, reviewed, agreed upon, and signed by both the employee and the leader. This ensures that there s no confusion about ownership of a job, when something isn t getting done. Why do we need them? 1 To get everyone, including emloyees and managers, on the same page 2 To operate at a higher capacity 3

4 How to write SMART KRAs? Write down a list of the goals that your company would want to achieve, with help of the employee, under the Goals(KRA) section If you plan to follow the BSC (Balanced Score Card) Pattern, then categorize each goal, under Category Section, into one of the following: 1. Customer 2. Financial 3. Internal Business Process 4. Learning & Growth Write relevant targets and time frames (if possible) against each job function*, in line with the tasks and activities required to achieve that goal - under the Definition and Measures Section. *Ignore those functions, which can t be measured According to a fascinating study, conducted on the 1979 Harvard MBA program, writing KRAs nearly DOUBLES an individual s efficiency towards attaining their goal. 4

5 SMART KRA Template Feel free to use the following template to define your employee s KRAs. Goal (KRA) Category Definition and Measures Weight 5

6 Here is an example of a filled-in KRA template Goal (KRA) Category Definition and Measures Improve Performance of Sales Executives Learning & Growth To ensure that all sales executives meet/exceed the sales targets provided to them. Also, to track the performance of the sales team and guide them consistently to meet sales targets. Target: US$ 500,000 per quarter for the whole team. Development of Sales Action Plans Customer To conduct market research, develop sales plans; and update periodically based on changing market scenarios and insights from the previous quarters. Also, sales plan must be reported every quarter to the management team for analysis and approval. Target: Review, update, management approvals on a quarterly basis Management Reporting on Sales Performance Internal Business Process Create and send accurate monthly reports. The reports should indicate the following: Plan vs. achieved Reasons for any shortfalls SWOT analysis Target for the next few month Target: Reports to be submitted by 7th of every month for the previous month Customer Engagement Customer To ensure that customers are happy with our services and their needs are being met. Also, to meet customers, get their feedback on a customer feedback form and discuss the insights at quarterly management meetings. Target: 3 customer meetings and feedback insights every month Create and Submit Proposals and Responses to RFQs Customer Reply to request for proposals, tender notices, and price quotations; in a timely manner. Also, submit documents on competitive analysis, budgeting, expected closure price and customer details in a separate customer profile document. 6

7 Target: All Proposals to be submitted for management review at least 3 days prior to due date Timely Collections Finance To ensure that the customers clear their dues within existing timelines. Also, work with the accounts to identify any delays and with the operations to mitigate any issues at the customer s end. Target: Improvement in cash flow by 7% QoQ Decrease in receivables by over 60 days by 25% in Q1, 20% in Q2, 35% in Q3 and 20% in Q4 Adherence to Company Policy Internal Business Process To ensure that the company policies are followed by all your team members. Also, that the following activities are carried out as per the assigned SLA: Application for leave and its approval within 3 days Filling in the travel sheets with approvals from you Submission of expense reimbursements within 5 days of completion of travel Nominations for rewards on quarterly basis Nominations for training half yearly basis Target: As per SLA in the company policy document Are you an HR Manager looking for help in creating SMART Goals for your organization? Learn more by taking the Goal Setting Tour. Next, click here to enroll for a FREE TRIAL of the empxtrack Goal Setting System 7

8 Step #1 Step-by-step demo How to setup KRAs in empxtrack with just four clicks Step #2 8

9 Step #3 Step #4 9