MyObjectives vs OKR and Scorecards
Summary
TLDRBrett Nolles from PMIR Consulting compares 'My Objectives' with traditional scorecards and OKR solutions. He highlights 'My Objectives' as a comprehensive tool that integrates strategic goals, priorities, and intrinsic rewards through gamification, unlike OKR's lack of strategic focus and scorecards' absence of HR system linkage. The video emphasizes the importance of aligning individual and team recognition with strategic performance reporting for enhanced employee engagement and business outcomes.
Takeaways
- 📊 My Objectives is a business approach that compares its methodology to traditional scorecarding and OKR solutions.
- 🔍 The comparison is based on best practices in scorecarding from Kaplan and Norton, and OKRs as a crowd-sourced idea without a strict methodology.
- 🎯 My Objectives focuses on identifying corporations' goals and strategic priorities, cascading them down to objectives or sub-goals.
- 🗓 My Objectives implementation is typically on a quarterly basis, breaking down long-term goals into shorter-term objectives.
- 👥 It allows for defining individual roles within teams using frameworks like RACI (Responsible, Approver, Inform, Consulted).
- 📈 Performance reporting in My Objectives can be done through data import, keying in numbers, or self-reporting, similar to how golf scores are kept.
- 🏅 My Objectives incorporates gamification elements like badges, leaderboards, and certifications to provide intrinsic rewards and motivation.
- 👥 It also emphasizes team recognition and aligns with the business's rhythm by providing regular feedback to individuals and teams.
- 📊 Traditional scorecarding lacks the link to HR systems and the intrinsic reward system, focusing on strategic goals and financial periods without individual recognition.
- 📋 OKR solutions, while offering role clarity and performance reporting, do not emphasize strategic priorities, time periods, or intrinsic rewards, often resembling a to-do list.
- 🌟 My Objectives stands out by providing clear strategic priorities, user-defined time periods, role clarity, support for intrinsic rewards, and strategic performance reporting at all organizational levels.
Q & A
What is the main focus of the video presented by Brett Nollers from PMIR Consulting?
-The video focuses on comparing the 'My Objectives' approach to scorecarding and gamification in business with traditional scorecard or OKR solutions.
What is the difference between the 'My Objectives' approach and traditional scorecarding according to the video?
-The 'My Objectives' approach includes strategic priorities, time-defined periods, role clarity, and intrinsic rewards such as gamification elements like badges and leaderboards, which are not typically found in traditional scorecarding.
How does the 'My Objectives' approach incorporate gamification?
-It incorporates gamification through the use of badges, leaderboards, and certifications that serve as intrinsic rewards, driving employee engagement and performance.
What are the key components of the 'My Objectives' approach as described in the video?
-The key components include identifying corporate goals, strategic priorities, cascading objectives, defined time periods, role clarity frameworks, performance reporting, and intrinsic rewards.
What does the video suggest about the OKR methodology?
-The video suggests that OKR is a more crowdfunded or crowdsourced idea without a strict methodology, often lacking strategic priorities, time periods, and intrinsic rewards.
How does the video describe the difference between OKR and traditional scorecarding?
-Traditional scorecarding has strategic priorities and time periods but lacks the HR system link and intrinsic rewards, while OKR provides role clarity and performance reporting but lacks strategic priorities, time periods, and intrinsic rewards.
What is the importance of linking objectives to strategic priorities in the 'My Objectives' approach?
-Linking objectives to strategic priorities ensures that the goals pursued are aligned with the organization's long-term strategy and that progress towards these goals is monitored and supported.
How does the 'My Objectives' approach handle performance reporting?
-It offers standard import data or key in hard numbers, as well as self-reporting, allowing for a more flexible and individualized approach to performance tracking.
What is the significance of role clarity in the 'My Objectives' approach?
-Role clarity, such as the RACI framework (Responsible, Approver, Inform, Consulted), defines the different roles individuals have in the success of a project, enhancing accountability and collaboration.
How does the video suggest that 'My Objectives' can impact employee turnover and satisfaction?
-By offering intrinsic rewards and a clear link between individual contributions and organizational goals, 'My Objectives' can increase employee engagement, reduce turnover, and improve product performance and customer satisfaction.
What is the role of self-reporting in the 'My Objectives' approach?
-Self-reporting allows individuals to take ownership of their performance tracking, similar to keeping score in a game like golf, which can lead to increased honesty and self-motivation.
Outlines
🎯 Overview of My Objectives vs. Traditional Scorecard and OKR
In this video, Brett Nolles from PMIR Consulting introduces a comparison between his 'My Objectives' approach to scorecarding and gamification of business, and traditional scorecard or OKR solutions. He explains that 'My Objectives' focuses on best practices derived from the work of Kaplan and Norton, while the OKR approach lacks a standardized methodology. He emphasizes the importance of identifying strategic goals and priorities, and how 'My Objectives' breaks these down into quarterly objectives that cascade down to individual responsibilities. The approach also incorporates role clarity frameworks like RACI and emphasizes performance reporting through both standard data import and self-reporting. Nolles highlights the intrinsic rewards of gamification, such as badges and leaderboards, which drive engagement and performance.
📊 Limitations of Traditional Scorecards
Nolles discusses the limitations of traditional scorecards, which, while offering strategic goals and priorities similar to 'My Objectives', lack the depth of role clarity and intrinsic reward systems. Traditional scorecards focus on strategic performance reporting but do not support self-reporting or individual recognition, which are critical for motivating and acknowledging team and individual contributions.
📋 Overview of OKR Approach
Nolles explains that the OKR (Objectives and Key Results) approach lacks universally accepted best practices and strategic priorities. It offers a list of goals without clear instructions or time periods, resulting in a less structured and strategic process compared to 'My Objectives'. OKRs provide role clarity and performance reporting but lack the gamification elements that drive intrinsic rewards and motivation.
📝 Comparison and Summary
In summary, Nolles compares OKRs, traditional scorecards, and 'My Objectives'. He points out that while OKRs lack strategic priorities, time periods, intrinsic rewards, and detailed strategic performance reporting, traditional scorecards do not support role clarity or self-reporting. In contrast, 'My Objectives' provides clear strategic priorities, user-defined time periods, role clarity, data import options, self-reporting, and a robust system of intrinsic rewards, leading to higher employee engagement, reduced turnover, and improved performance across all organizational levels.
Mindmap
Keywords
💡Scorecarding
💡Gamification
💡OKR (Objectives and Key Results)
💡Strategic Priorities
💡RACI
💡Intrinsic Rewards
💡Performance Reporting
💡Self-Reporting
💡Role Clarity
💡Strategic Performance Report
💡Employee Engagement
Highlights
Introduction to a comparison between 'My Objectives' and traditional scorecarding or OKR solutions.
Explanation of 'My Objectives' approach to identifying corporate goals and strategic priorities.
Cascading strategic goals to objectives or sub-goals in 'My Objectives'.
Defining time periods for objectives in 'My Objectives', focusing on quarterly goals.
Role clarity framework in 'My Objectives' using RACI model for individual responsibilities.
Performance reporting in 'My Objectives', including self-reporting and traditional data import.
Intrinsic rewards in 'My Objectives' driving engagement through gamification elements like badges and leaderboards.
Importance of team recognition and performance feedback in 'My Objectives'.
Aggregating scores for strategic performance reporting at all organizational levels.
Comparison of 'My Objectives' with traditional scorecarding, highlighting the lack of HR system integration and intrinsic rewards.
Lack of self-reporting capability in traditional scorecarding compared to 'My Objectives'.
OKR solution critique, pointing out the absence of strategic priorities and time periods.
OKRs described as a list of goals without clear instructions or strategic performance reporting.
Role clarity in OKRs but without the intrinsic rewards or strategic linkage seen in 'My Objectives'.
Lack of team recognition and intrinsic rewards in OKR solutions.
Summary of OKR limitations: no strategic priorities, time periods, intrinsic rewards, or strategic performance reporting.
Advantages of 'My Objectives' over scorecarding and OKRs, including strategic priorities, user-defined time periods, role clarity, and intrinsic rewards.
Conclusion emphasizing the comprehensive features of 'My Objectives' for strategic performance and employee engagement.
Transcripts
hello I'm Brett nolles from pmir
Consulting this video is going to walk
through a comparison of my objectives
and its approach to scorecarding and
gamification of business compared to a
traditional scorecard or okr solution
now it's important to note that this is
a comparison of what I'm going to call
best practices in the scorecard world
that comes from the work of doctors
Kaplan and Norton and the software
vendor that they have
certified the okr world is kind of a
crowdfunded idea and or crowdsourced and
there is no methodology that one must
follow so I've followed the ideas that
are generally accepted as within the
principles of
okr so let's talk about my
objectives the way it works is overall
we should be able to identify the
corporations or organizations goal goals
and we're going to add to that the
Strategic priorities because of course a
goal that is more strategically
important is of course more important
for us to follow up on and make sure
happens then we Cascade those down to a
series of objectives or sub goals now in
my objectives we have defined time
periods so in the typical my objectives
implementation takes a look at a
quarterly time period period so we take
that longer term strategic goal that
might take you a year or many years to
accomplish and break it down to what do
we need to do this quarter next quarter
the quarter after that all in moving
towards that longer term strategic goal
so quarterly
objectives those in turn get cascaded
down to the individuals within the teams
who are responsible for getting that
work done in fact within my OB Ives you
can Define your own role Clarity
framework so for example many
organizations use Ry reacy stands for
responsible approver inform consulted
and Define the different roles that each
individual might have in the success of
that particular
project then finally we need the ability
to do performance reporting and in my
objectives we can do the standard import
data or key in hard numbers but also
that new trend we see towards
self-reporting if you think about it
when you play golf there's no referee
that comes along behind you you keep
score for yourself and in golf if you
cheat you're only cheating on yourself
in the business world if you give us the
wrong information we'll find out about
it fairly quickly Because by the end of
that month we'll discover the progress
hasn't been made that you've been
reporting now in addition to this what
we've learned is what truly drives
people is not that overall performance
statistics or even pay it's the
intrinsic rewards if you think of what
makes online gaming so interesting
because no one gets paid to play online
gaming it's intrinsically rewarding we
understand what our purpose is we get
the opportunity to master the skills we
get the autonomy to go get the work done
we get to see the progress we're making
and it's those things which give us
those intrinsic individual
Rewards my objectives those are
represented by badges leaderboards
certifications that you win for the work
you've achieved and the
successes likewise we need to see how
the teams are performing and recognize
the success the teams have had towards
those objectives and this is important
because now we can match the drum beat
of the business give individuals and
teams daily weekly monthly
feedback and then overall we need to be
able to aggregate those scores and give
us a strategic performance report but
not only at the top level at every level
of the
organization so that's what my
objectives
does let's compare that to what we get
with for example a scorecard so if for
scorecarding it's important to note that
they do give us
exactly the same strategic goals and
priorities they also encourage you to
break it down to what are we going to do
for each of the financial periods so
that's within the scope of a standard
scorecard what scorecards don't do is
they don't give us that link to the HR
System and the RO Clarity so we may
assign someone who reports on this but
we don't have the full depth that
supports that intrinsic reward
system also on a traditional balance
scorecard World which comes from the bi
environment where we're sucking data out
of existing databases and systems we
don't have this self-reporting
capability what does this mean well
obviously without this Ro Clarity we
can't do this individual recognition at
all it also means that we can't do this
team
recognition but we can of course do the
Strategic performance
reporting so that's what you get with a
standard scorecarding
solution let's go back to the overall my
objectives model and see what you get
when you go for an okr type solution now
again I need to emphasize there is no
best practices on okr there's no
generally accepted principles there's
just a series of authors that have
written stuff but a universal truth
seems to be we're not going to worry
about the Strategic
priorities so what we end up with is not
strategic goals and priorities we just
end up with a list of
goals and what that means is those goals
don't give us a clear reporting
relationship to what we need to do to
achieve them in fact in most of the okr
world we don't even have time buckets we
just list off what the objectives are so
that gives us at best a dotted line
connection between this goal and these
objectives in fact it reminds me more of
a shopping
list than a recipe it's just a list of
things you would like to have but it
doesn't give you the detailed
instructions of how you're going to use
those to create value and in what
measure and what the priorities are and
how we actually go about achieving that
so some people have called okrs a bucket
list now okrs do give us that role
Clarity I mean after all okrs are just
management by objectives under a new
name and they allow the same performance
reporting that we see within my
objectives most doare systems don't have
anything about the gamification what
does that mean it means I don't get that
individual recognition but I can give
you some nice dials on what the
individual has done but again it's not
priority set it's not linked to strategy
with other anything other than this
dotted
line it means that we also can't have
this formal team recognition I can have
team performance and give you some nice
dials finally because we've gotten rid
of the Strategic priorities and we just
have a laundry list of goals we can't
give you strategic performance reporting
but I can give you some nice
dials so overall with okr you end up
with more than you get with scorecarding
but you don't get the full features that
management by objectives gives you to
phrase this another way let's take a
look at okrs in summary there's no
strategic
priorities there are no time
periods there are no intrinsic rewards
and there's no strategic performance
reporting it's basically a laundry list
of goals and objectives that you can
indicate the progress you're making
against them just a to-do
list and traditional
scorecarding it has the Strategic
priorities and so forth but it doesn't
allow that Ro Clarity work it doesn't
allow self-reporting it doesn't support
the intrinsic rewards that allow us to
Cascade past the department down to the
teams and
individuals whereas my objectives it
gives you clear strategic
priorities it has userdefined time
periods or what we call
games it gives us defined Ro Clarity in
fact you can set up whatever role
Clarity framework you would
like it allows us to import data if you
wouldd like to from existing systems you
can manually input the data if you would
like or you can
self-report it allows us to support the
full richness of intrinsic rewards the
badges Awards leaderboards and these are
things that drive Employee Engagement
sustainability of the system they reduce
employee turnover they improve product
performance product quality customer
satisfaction and of course it allows us
to do that strategic performance
reporting at all levels so I hope this
explains for you the difference between
what is a scorecard what is an okr
solution and what does my objectives
brings to the table thank you for your
time
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