Talent Management>>Goals>>Goal Setup>>Financial Year
Financial Year
Goals are established based on the financial year, spanning a twelve-month period to facilitate both financial reporting and strategic planning. This structured approach ensures that financial objectives are clearly defined and aligned with long-term strategic initiatives. These overarching goals are further divided into shorter-term milestones or targets, enabling regular tracking of progress throughout the year. Continuous monitoring allows for timely adjustments in response to changing circumstances, ensuring flexibility and focus. At the close of the financial year, performance is thoroughly evaluated against these predefined goals, providing a clear measure of success and areas for improvement.
Set Up the Financial Year
Company, Year, Start and End Dates: Select the period for which the goal is relevant.
Status: check either one of the following options -
- Open – The active financial year, ready for employee feedback and progress updates.
- Planning – The financial year is being set up but not yet open for employee input. You can also plan for a new year while the current one remains open.
- Closed – The financial year has ended, and all goal updates are finalized. Mark it as closed once the period is complete.
Note: Your prior financial year must be Closed to Open a new year.
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