Setting better Growth Objectives
Don't worry, I'm not going to drone on about how to set SMART objectives! (SMART is vitally important but there are thousands of other sites and books that cover this).
What I do want to recommend here is a simple, repeatable approach that will help any organisation improve how it sets and fulfils its Growth Objectives.
1. The objective should address a single Growth Probability Indicator (GPI) only.
Fulfilling an objective may have a positive impact on other GPIs but you should be crystal clear about its primary focus. This ensures that you measure and make meaningful progress on that specific GPI.
2. The objective should seek to achieve one of the following three outcomes;
- Improving Senior Team Alignment or
- Improving the Overall Rating of the senior team or
- Validating the Overall Rating externally to ensure that the senior team isn't just deluding itself!
As above, fulfilling an objective might deliver two or three of these outcomes but a clear primary focus will really help you make meaningful progress.
3. The objective should be given to only one person in your senior team (this might be you).
There's no problem involving others, it's great to have a handful of your senior team working together 'on the business' in between quarterly meetings BUT there must be one person accountable for ensuring that objective is met.
4. Once set, you should never move the target delivery date backwards, even if there is a good reason.
I say this because there's always a good reason! There's always something urgent that pops up to prevent it being delivered on time. That's fine (there's no need to hang anyone out to dry) but it should be reported as late so that you track this and start to understand and evidence behaviours and trends over time.
These four recommendations (plus SMART!) will help you set better objectives and build a senior team that recognises the importance of meeting your 'on the business' commitments.