Jeff Kempker, CEBS, CRC
Photo by Garrhet Sampson on Unsplash
Goals are important. Every person and organization should set goals so they are constantly seeking to get better. This time of year people are thinking about their goals; some refer to these as New Year’s Resolutions. It’s a time to reset, recharge and prepare to run head first back into the fire of life.
However, simply setting goals is not enough. Setting goals means little if there is no tracking or measurement of the progression toward the objectives. Follow through, initiative and grit are required if we want to accomplish anything worthwhile. Keeping our eyes set on the horizon with dogged determination is how we will get there.
Before setting goals, you first must determine what your values are and what you’re committed to. LAGERS’ core values are accountability, excellence, dedication, integrity, teamwork, respect, and communication. We take these values very seriously. So much so that they are a component of staff performance evaluations.
You must also have a vision of where you want to be. A vision is not a description of what you’re already doing. That will not move you forward. That is a mission. A vision should be inspiring, concise, and something on the edge of being unobtainable. LAGERS’ vision is “A Secure Retirement for All.” This simple statement drives our decision making and long term goal-setting.
There are four main areas LAGERS has identified as a focus for the next three years, and possibly, beyond: funding sustainability, stakeholder service & outreach, staffing, and cyber security. These are LAGERS’ critical success factors, and strategies have been developed around these factors that describe what we must achieve to be successful.
It’s not enough to simply identify your goals. You must also document how you will achieve these goals. LAGERS has documented objectives for each critical success factor and actions we must take to acheive the objectives.
Safeguard member assets in order to ensure the long-term sustainability of the pension fund.
To achieve this, LAGERS will:
- progress toward 100% funding.
- invest member assets prudently.
- establish and maintain internal controls.
Provide superior service to our members while enhancing the knowledge of all stakeholders in order to promote a secure retirement for all.
To achieve this, LAGERS will:
- enhance and expand outreach to all stakeholders.
- frequently measure customer service, implement improvements, and explore additional member services aligned with our vision, mission, and core values.
- establish processes, policies, and procedures for effective implementation of legacy plan administration.
Ensure highly qualified, trained, empowered, and motivated staff to provide the best possible outcome for our members.
To achieve this, LAGERS will:
- conduct accurate and timely annual employee performance reviews.
- will promote its core values to all stakeholders, especially internally, with our actions and words.
- establish programs and procedures for recruiting, engaging, and retaining the best possible workforce.
Ensure the security of critical data while optimizing utilization of technology in all business areas.
To achieve this, LAGERS will:
- maintain a data security program.
- develop a technology improvement plan in order to keep pace with industry standards.
Once you identify how you will accomplish your goals, it’s important to plan actions you must take that are measurable and time bound. LAGERS has identified many actions we will be taking to ensure we are moving toward our planned goals. If you would like to learn more about LAGERS’ goals and how we plan to achieve them, click here.
We all need goals. We all need to be working toward things that make us better than we were yesterday. At LAGERS, we will not be satisfied with the status quo, or “good enough.” We will never think we “have arrived.” Our vision will propel us well into the future.
