I recently came across a 2018 article from MIT Sloan Research that highlights the advantages of setting FAST goals over the more traditional SMART goals. Though a few years old, the insights are still compelling.
While most organizations have relied on SMART goals for decades, some - like Google and Intel - have adopted the FAST approach to better align and drive action.
As the authors explain, “SMART goals undervalue ambition, focus too narrowly on individual performance, and overlook the importance of ongoing goal discussions throughout the year. To execute strategy effectively, leaders should instead set goals that are FAST - Frequently discussed, Ambitious, Specific, and Transparent.”
Interestingly, even more traditional companies, such as Burger King, Kraft Heinz, and Anheuser-Busch, have used objectives and key results (OKRs) to bring these FAST principles to life.
For some, the idea of having frequently discussed and transparent goals might seem odd. But consider this: most employees don’t know what their organization’s corporate goals are, and just as few team members know anything about their fellow team members’ goals. This makes it unlikely that individual goals are aligned to the corporate objectives or that team members can effectively coordinate and support each other’s goal achievement.
Despite the potential for FAST goals to foster better alignment, engagement, and execution, few companies have adopted the practice. Is it simply a lack of awareness or something else? What's your perspective?
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