OKRs(Objectives and Key Results) is a system that provides a framework for setting measurable goals and tracking progress. The idea behind OKRs is to create a centralized approach so everyone at work can work towards the same goals. OKRs have been adopted by some of the world’s largest companies, including Google, Amazon, LinkedIn, Accenture, and Netflix.
OKRs are set at the beginning of a quarter and reviewed at the end. Each OKR should have 1-3 key results associated with it. Key results are measures that track progress towards the objective.
For example, an objective might be to increase sales by 10% in the next quarter. A key result might be to increase the number of sales leads by 20% in the first month of the quarter. OKRs help organizations stay focused and improve their chances of success. The entire team can be aligned with the OKR framework.
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Example of OKR-:
Improve Engagement on Social media platforms
- Make and share videos with more practical and less theoretical content
- stay consistent with posting content on social media
- Increase engagement on Instagram and Facebook pages by 20% monthly
Advantages of OKR:
- OKR helps in Centralizing and focusing the efforts of your team
- OKR helps in achieving your objectives in an organized and systematic way
- OKR Helps in Tracking employees’ performance & companies progress
- OKR helps in Maintaining a positive attitude & culture
- OKR helps in aligning goals and creating accountability
- OKRs help in overcoming communication barriers and building teamwork
- OKRs help in promoting motivation & accelerating growth
- OKRs help in setting & meeting stretch goals
What to Avoid When Implementing OKRs-
- Setting too many objectives or key results
- Setting key results that are not measurable & quantitative
- Setting objectives that are not time-bound
- Confusing tasks with key results
Here is how you can ensure the successful implementation of OKRs-
- regular check-ins
- Constant Evaluation
- Start with a high-performing team
- Use OKR software
- Educate teams about OKR
- Have patience
OKRs are a great way to set goals and also make sure your employees know what they need to do for the company’s success. OKR has become commonplace because of its effectiveness at setting objectives that align with organizational needs and wants. Huminos is the best OKR software that your business needs today. It is free software that will serve your purposes in every way. Read Profit.co’s OKR book to get more knowledge about OKR.