OKRs, or objectives and key results, are a tool many organisations use to help achieve alignment and focus. They were first developed in the 1970s at Intel but really gained popularity after Google used them as part of their management strategy. At any given time, an organisation will have several primary goals (called Objectives) each with secondary goals that measure progress towards achieving these primary goals (called Key Results). For example Objective: Maximize global reach
Key Result 1: Increase marketing budget by 25%
Key Result 2: Launch the French version of the website
Key Result 3: Launch the Chinese version of the website
There are many other benefits OKRs can offer your organisation, including helping individual employees better understand how their work contributes to the overall mission of the company. While there is no one “right” way to do OKRs, here are some tried-and-true practices and tips others have found helpful when implementing OKRs in their own organizations.
OKRs can be a great way to get your executive team on board. An effective way to do this is to think about what it will take for you and your leadership team to measure OKR success.
For example, if your goal is revenue growth, it’s important that all key stakeholders understand what revenue growth means for them and how they will contribute to achieving this goal. If you’re looking for increased customer retention rates, then everyone needs to know how their role impacts customer satisfaction ratings—and what steps they need to take in order for those ratings to go up or down. Defining the metrics surrounding these goals will help keep everyone focused on what matters most while also providing a solid framework within which they can work together toward an overall goal.
Train your team in OKRs
As an organisation, you need to make sure your team is trained in how to use OKRs.
A great way to get started with this is by explaining the purpose and benefits of OKRs. You can also explain how they differ from traditional goal setting and performance management strategies. Make sure that your team understands why these tools are useful for them, not just the company as a whole.
Let the team define Key Results
You might think that there is a one-size-fits-all answer to defining Key Results. You would be wrong.
The reason why OKRs are so effective is that they help align teams’ goals with the company’s strategy and vision, as well as their colleagues’ goals. This alignment means that everyone can pull together in the direction of the organisation’s most important objectives, which improves collaboration and results in better work. The outcome is more motivated employees who feel like they can make a difference at work.
Conduct regular reviews
The first thing to do when implementing OKRs is to decide when and how you will conduct reviews. It’s important that these are done on a regular basis; we recommend at least monthly. For example, if your team has three quarterly goals for Q4, then one-on-one reviews should take place in October, November and December (before the end of each quarter).
These reviews should be conducted in a group setting with all team members present so that everyone can hear feedback from peers and managers alike. If it’s possible, hold this meeting standing up or walking around the office—it keeps people engaged! Be sure to include any relevant stakeholders who are not part of your core team but would benefit from hearing about its progress toward its OKRs (for example product owners or salespeople).
OKRs are powerful tools that help you achieve alignment and focus throughout your organisation.
OKRs are powerful tools that help you achieve alignment and focus throughout your organisation. They enable you to align your teams around the same goal, ensuring that each team member’s individual contributions are aligned with the larger organisational goals. They also provide a mechanism for measuring progress toward these goals, allowing teams to adjust their efforts as needed in order to stay on track toward business success.
The most effective way of using OKRs is by creating them in collaboration with your colleagues across all levels of an organisation. By ensuring that everyone from executives down through middle management can contribute ideas about what needs improvement or change within the company, you’ll create a shared vision of success that everyone can work towards achieving together
OKRs are a great tool to help you focus your organisation on the things that matter. They can also help achieve alignment across the organisation. When implemented well, they have the potential to change how you work and drive performance and accountability at every level of your organisation. OKRs should be used in conjunction with other tools such as KPIs and motivational strategies, but they can definitely be a strong catalyst for transformation!