It is nothing new for us that planning and executing those planned strategies efficiently are some of the key challenges that an organization faces and with the pandemic, the growth of work from home has fuelled pushing more and more companies to look up for ways to achieve greater transparency around goals and execution. Further, it creates difficulties for the company as to how to develop a sense of connection among the team members to keep everyone on the same page regarding the company’s goal.
The aim to achieve better results kind of becomes difficult within such scenarios. To tackle such situations through traditional ways is an ineffective approach. Thus, here comes the role of OKRs.
In this article, we’ll discuss how OKR software can strengthen your business and achieve better results in the future via the same approach. Let’s dive deep into how OKRs can build up your business but before that, let’s know what OKRs are.
What is OKR (Objective and Key Results)?
Objective and Key Results (OKRs) is a goal-setting methodology that helps to focus on specific goals and track progress to achieve better results. The main aim is to achieve objectives and key results. The objective in OKR is a statement that comprises the goal that can be accomplished through definite and tangible actions. Key results assist in measuring the success of your objective and tracking your progress.
Not only this, OKR helps in fostering transparency within the company and creates the correct alignment among the team members. There’s no particular stage where you’ll be allowed to use OKR. Simply put, OKR functions at every set of levels whether it’s for personal use or some sort of teamwork from large organizations to small start-ups, OKR is available for all. OKRs framework is pretty simple, providing companies with a reason to get their hands on it.
How OKR Software Helps in Strengthening Your Business?
- Better Transparency & Teamwork: When OKR’s in place, organizational goals are available for everybody to see, thus resulting in better transparency and collaboration amongst the team and departments.
When team members know about each other working areas expertise, action plans, etc., they tend to get in more sync and work in a much more collaborative way, thus helping in achieving better results.
OKRs methodology helps in building up a cohesive team where employees and team managers can work as a unit thereby accomplishing larger goals with greater efficiency.
- Increased Focus & Productivity: OKR provides much clarity in success measurement and sets a time-bound realization of goals. In this way, employees can stay more focused since they know where to prioritize their time and what matters the most. This directly raises productivity since the focus is directly proportionate to productivity. The more the employees are focused, the more productivity.
- Elevated Employee Engagement & Commitment: Employee engagement is one of the crucial reasons that determine the success of your business as well as how strong your business is. When the organization doesn’t keep its team intact or engaged, members may start to feel disconnected. But with OKR’s collaborative framework every individual can see how their work is connected to the company’s vision giving them a sense of direction and purpose.
When the team members will get to know how their work is contributing to the company’s vision, they’ll likely feel more connected and committed to their work.
- Regular Track of Progress: With OKR, tracking progress from output becomes pretty much easy, making it a popular choice among organizations. Regular check-ins and status update keeps the team members more focused on work. As OKRs are linked to specific timelines for every goal, discussing goals on regular basis keeps the team focused on progress.
When the objectives are short-term rather than long term team members wouldn’t get lost managing those targets thus, leading to progressive growth, commitment, and productivity in the organization. OKRs enable cascading that helps in breaking down company-level key results to department-level key into team-level and further to individual-level making long term goals much more manageable and tangible for employees.
- Alignment to Corporate Goals: Your employee needs to get to know how they and their work is connected and aligned with the company’s goal or overall vision. When goals are shared among the employees, there’ll be much transparency within the organization, so every employee will feel connected and invested in the organization.
Once the OKRs are set, employees can align themselves to their daily tasks to the company’s overall vision. If each team and its member have clarity of their work and how can they align themselves with the corporate goals, they’ll stay more focused on the work thus, leading to better results.
Examples of OKR
Example 1:
Objective: Strengthen our Corporate Culture
Key Results:
- Roll out continuous two-way feedback via monthly surveys.
- Create and launch new mentorship by the end of the second quarter.
- Maintain an average employee satisfaction score of 8 or high.
- Celebrate small victories and any sort of milestone achieved.
Example 2:
Objective: Launch a new product by the end of the first quarter.
Key Results:
- Do proper research about the product.
- Create a minimum of 20 customer case studies.
- Win the ‘Best Product of The Year’ award at an industry conference.
Conclusion
Let us summarise about what we’ve talked so far. OKR’s objectives revolve around employees, growth rate, customer demand, excellence, and applicable creativity and innovation.
To amplify your organization’s productivity righty away, implement these OKR Templates to plan your next months’ objectives and goals. Find department wise OKR examples and set them for your teams.
OKR methodology is straightforward that is:
- Provide clarity to both the employees as well as manager.
- Help to increase productivity and efficiency within the team.
- Elevate the commitment of employees towards their work by aligning them to the corporate’s overall vision, eventually allowing employees to vision big picture
- Organizations can always look for a new specific goal, boost engagement rate and productivity, and stay agile while setting up goals.
- Build a compatible and well-coordinated team.
- Creates transparency within the organization, thus enhancing teamwork between members of different departments.
With the OKRs framework, everything becomes simple, and straightforward enabling organizations to know what, how, and why of their goal.
If you want your organization to drive productivity and engagement, enhance success rate, and strengthen your business, then OKRs methodology is the best way you can achieve it. All in all, we can conclude that via multiple ways, OKR does positively impact your business to strengthen it and lead it to a successful business.
