What is the purpose of setting 'Goals' within Workday HCM?

Setting 'Goals' within Workday HCM is fundamentally aimed at aligning employee performance with organizational objectives. This approach helps ensure that individual employees understand how their roles and efforts contribute to the larger goals of the organization, fostering a sense of purpose and direction in their work. By establishing clear, measurable goals, organizations can effectively evaluate performance, guide professional development, and create accountability among team members.

When employees’ individual goals are connected to the company's strategic objectives, it cultivates a cohesive environment where everyone is working towards the same outcomes. This not only enhances productivity but also motivates employees by showing them that their contributions matter. The focus on alignment underscores the importance of teamwork and collaboration in achieving the organization's vision and mission.

The other choices represent ideas that are not central to the primary purpose of goal-setting in Workday HCM. While bonuses can be a product of high performance, they are not the central aim of establishing goals. Promoting competition may occur as a byproduct of goal-setting, but it is not the intended purpose and can lead to unhealthy workplace dynamics. Similarly, limiting advancement opportunities is contrary to the intent of goal-setting, which typically aims to enhance growth and career development for employees.