MyObjectives vs OKR and Scorecards

Summary

Brett 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.