Empowering an inclusive economic recovery by setting goals

One of the most important aspects of how we manage the Department of Employment and Economic Development (DEED) is the way we set goals and measure results. In 2019, we shared a new system we’ve put into place at the agency to set aspirational goals for every team, and measure progress every quarter. The system, called Objectives and Key Results (OKRs), is used by organizations around the world to build momentum toward a clear vision.

As we begin the road to an inclusive economic recovery from COVID-19 in Minnesota, setting goals and measuring results are more important than ever before. Today, we are sharing the results of our first year of using this framework at DEED, and are publishing the goals we’ve set to guide our agency’s work in 2021.

Our 2019-20 Objectives and Key Results can be found here, where you’ll see our year-end grades. The OKR system uses a 0.0-1.0 grading scale, and the sweet spot is a score of 0.6 or 0.7, which indicates you’ve pushed yourself to do more without making the goals too easy.

Read full article.