2. Goals Should Be Reviewed At Least One Every Two Weeks

Managers and employees should typically review execution against goals once a week, with new or struggling employees getting daily reviews and particularly experienced or successful employees getting reviews once every other week, Russell said.

Employees should define their weekly W.I.N. (short for What's Important Now), which Russell said are three things they have done in the current week that relate to their goal. Management of and follow up on goals are absolutely critical, according to Russell.

"If you can't follow up, don't [set goals in the first place]," Russell said. "Just stay the way you are."