The conventional SMART approach for setting goals undermines higher-level (team and/or organisational) objectives by promoting an individualistic and isolated approach to work. The best approach for creating effective goals, according to researchers at MIT Sloan, is to go FAST: Frequently discussed; Ambitious; Specific; and Transparent.
According to their meta-analysis and additional field research across companies such as Google, Intel, Netflix, Burger King and Kraft Heinz, these “four core principles underpin effective goal systems”. However, it was the last principle — transparency — that stood out as the least popular, yet most impactful:
Making goals public can boost performance by introducing peer pressure, showing employees what level of performance is possible, and helping them locate colleagues in similar situations who can provide advice on how they can do better.
I’m always curious how it might be possible to apply such findings to personal development. While I use spaced repetition and deliberate practice, I don’t often make goals. Maybe that’ll change.