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.

Outlines

00:00

🎯 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.

05:00

📊 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.

Keywords

💡Scorecarding

Scorecarding is a strategic management tool that helps organizations track and align their activities with their strategic goals. In the video, it is compared with 'My Objectives' and the traditional OKR (Objectives and Key Results) approach. The script mentions that scorecarding provides strategic goals and priorities but lacks the HR system integration and intrinsic reward system that 'My Objectives' offers.

💡Gamification

Gamification refers to the application of game-design elements and principles in non-game contexts to increase engagement and motivation. The video discusses how 'My Objectives' incorporates gamification through badges, leaderboards, and certifications to drive intrinsic rewards and employee engagement, which is a departure from traditional scorecarding and OKR solutions.

💡OKR (Objectives and Key Results)

OKR is a goal-setting framework that helps organizations align their objectives with measurable results. The script describes OKR as a crowd-sourced idea without a standardized methodology, contrasting it with 'My Objectives' that provides a more structured approach with defined time periods and role clarity.

💡Strategic Priorities

Strategic priorities are the critical goals or objectives that an organization must focus on to achieve its long-term vision. The video emphasizes the importance of cascading these priorities down to objectives and individuals within 'My Objectives', which is a feature not fully realized in traditional scorecarding or OKRs.

💡RACI

RACI stands for Responsible, Approver, Informed, and Consulted, and it is a framework used to define roles and responsibilities within a project or process. The script mentions that 'My Objectives' allows for a RACI framework or any other role clarity structure, enhancing the clarity of individual contributions.

💡Intrinsic Rewards

Intrinsic rewards are the personal satisfaction and sense of achievement that come from performing a task or activity, rather than external rewards like money. The video explains how 'My Objectives' leverages intrinsic rewards through gamification to motivate employees, as opposed to traditional scorecarding and OKRs that may lack this element.

💡Performance Reporting

Performance reporting involves tracking and communicating progress towards goals. The script discusses how 'My Objectives' supports performance reporting through both traditional data import and self-reporting, which is a unique feature compared to traditional scorecarding and OKRs.

💡Self-Reporting

Self-reporting is a method where individuals input their own performance data. The video highlights 'My Objectives' support for self-reporting as a way to foster honesty and personal accountability, which is likened to keeping score in golf, and contrasts it with traditional scorecarding that relies on external data sources.

💡Role Clarity

Role clarity refers to the clear understanding of an individual's responsibilities and expectations within a team or project. The script points out that 'My Objectives' provides a framework for defining role clarity, which is essential for effective team collaboration and individual recognition.

💡Strategic Performance Report

A strategic performance report is a comprehensive analysis of an organization's progress towards its strategic goals. The video describes how 'My Objectives' enables strategic performance reporting at all levels of the organization, which is a feature that traditional scorecarding lacks in terms of depth and integration with individual and team performance.

💡Employee Engagement

Employee engagement refers to the level of commitment, enthusiasm, and effort that employees put into their work. The script explains that the gamification elements of 'My Objectives', such as badges and leaderboards, are designed to increase employee engagement and lead to better performance outcomes.

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