Traditionally, businesses and organizations set high-level goals when they start a new year. The main problem with the traditional goal-setting strategy is that everyone will have forgotten about the goals within a short time. This will then result in passive management since leaders will have difficulty tracking and measuring progress and the achieved goals by employees. Again, managers and executive will have challenges knowing the team that is underachieving, achieving or overachieving.
Today, however, more businesses have adopted a better goal setting and management framework known as OKRs, which is an acronym for Objective and Key Results. In this framework, organizations and businesses define their objective or goals and are able to track the outcome. Although OKRs has been there for several decades, not many organizations implemented this framework.
More organizations are now implementing this goal setting and management framework after realizing the benefits it offers. Today, people are aware of great success by Google. However, only a few people are familiar with the way they achieved their success. The secret behind their success story is OKR. Nowadays, many other organizations are using OKR to track their objectives and outcomes. Other organizations using OKRs include Twitter, Uber, and Linkedln among others.
Through OKRs, an organization focuses its effort on the important issues in the entire organization. When setting OKRs, however, success is marked when you get beyond a perceived limit. Therefore, you need to set up objectives such that teams will push themselves. Even if they don’t reach the goal line, they will be so much ahead if they just get close to the goal line.
Once you set the objective, you need to define some measurable key results. The key results need to be achievable, quantifiable, and gradable. You can also base your key results on performance, growth, engagement or revenue.
Another important thing when using OKRs is checking progress. This will be necessary after establishing your objectives and key results. The check-ins should be done on a regular basis and should be public so that everyone knows when they are held. For OKRs to be successful, all members should be clear on what their goals are, and their teammates’ goals as well.
After having a structure where you can set your goals and track progress, you should not neglect rewarding success. You need to recognize and celebrate once the goals are met or after significant progress is made. This will help you acknowledge the hard work put by your team and promote productivity. Learn more by clicking here: https://en.wikipedia.org/wiki/OKR .