What is OKR? Is it a successful tactic in the future of work ?
OKR isn't a new tactic or "new" term, brands have been implementing it as a part of the execution process in their organisation since 1990. Many companies use the OKR methodology as their execution process, Once it was only restricted to high end companies like Google, Amazon and Intel. But, since remote work has hit the bottom we have a bigger picture of OKR and if you have arrived at the topic of OKR discussion- or Objectives and Key Results- we sure there must be curiosity deep inside you to know the importance of OKR and how strategy and discipline of execution matters
OKR is bridging the Gap between Strategy and Execution of Goals.
A vision always needs an alignment to reciprocate. Building a visionary company requires one percent vision and 99 percent alignment.
Let's take a closer look at the answer: What is OKR ?
The objective is the dream that I want to accomplish and the key
result is how i am going to achieve that OKR, the objectives
should always have a high value than ever achieved typically a
longer time span, they should be outrageous and in simpler words,
it should give you a kick inside whenever you look at the
objective,
OKR should always have the ignition in it, so whenever you make
your key results, you feel motivated and aggravated towards the
approach of OKR .
But always make sure when you create your key results, one must
never become over enthusiastic and set them ridiculously, it
should be measurable, time bound and numeric.
Find your actual sweet spot while digging deeper with OKR
Still considering OKR a most hyped and trending term ?
This is abrupt. OKR is a pure traditional method used less
frequently but an effective missed out approach.
Currently, OKRs are frequently set by the organisations , tracked,
and re-captured and evaluated. OKR improves the process and
synchronizes the team in a creative and meaningful way.
Creating the balance in the organisation is the main
OKR benefits.
The goal is to make sure that everyone is led through the same
direction, with transparent intentions and constant rhythm. Timely
update and a deep alignement with the top management objective via
check-ins enhances the productivity.
OKR Check-Ins
Check-Ins help everyone stay on top of their goals. SPACE research shows that the check-in feature boosts the goal attainment by over 300%.
What contributes to OKR ?
OKR was introduced by
John Doerr
most successful venture capitalist of the industry. He mentioned a
formula for setting the goals
I will____ as measured by______
Thats says to achieve my goals “I will set my objective that will
be aspirational and inspiring “ To achieve the goals “I will make
key results with numbers in it”
And to be directional and functional “ I will create my
initiatives upto my skills”
An objective is a term that defines the future goals, what is farsighted and can be achieved within a set timeline is known as Objective.- like an objective should be simple and dreamy that inspires you to be confident, directional and more importantly it should not be technical or numeric, everyone can align with your objective in the team.
Key results are the numbers, remember NO NUMBERS, NO KEY RESULTS. It is a measurable outcome that is required to achieve an objective. Key results are creatively a roadmap just like a directional map for you to reach your desired objective.
Initiatives are the tasks and methods or strategies you are going to apply to achieve your key results. Let's suppose your organization is your body, the objective is your fitness, the key results show if you're exercising and eating in the right direction and the initiatives are if you are moving your body on a daily basis.
“Where I want to reach? ‘’
“ How do I measure if I am going right in the direction?”
“ What efforts do I have to make to reach the destination?”
Example OKRs
Objective
Key result
Initiatives
Track OKRs for FREE
How OKR will benefit your organization ?
Business employee impact.
OKR is a term that is mostly used in businesses for boosting
productivity and enhancing the work culture of the business in the
competitive world. Research shows the organization that has
adapted the OKR framework tends to be more focused towards their
goals rather than the businesses that are idle about the work of
OKR.
If you compare the mindset of the employees working with the set
of OKR, they sound more aligned and know about the road they have
taken. On the other hand, the employees not practicing the OKR,
sometimes the direction towards reaching their goals looks blurred
to them and certainly clueless about their short term goals.
Cultural impact
The biggest benefits OKR offers to any organization is the
cultural transparency,
priority
of the focused groups. When OKR is implemented in the organisation
it shouts out loud and talks about the numbers and statuses,
alignment , accountability when adopted effectively.
Often the OKR negelectors piles up a mountain of demotivation in
the culture and some days the attitude becomes the lifestyle and
it indirectly impacts the behaviour of employees of the
organisation.
OKR is a hot spicy recipe: Get started with OKR
Now if you are one of the OKR believers, let's do the prepping up for building the audacious goals .
Before you get going it is important to get a clear understanding of OKR, what you expect from it and why you are taking the challenge of framing it.
Framing OKR for organisation is like making a recipe, each OKR
adds its own spice towards the common goal. Every pinch of spices
adds its own taste, and there is only one spice that somehow
dominates the whole recipe.
Before making your OKR, make sure your contribution or your OKR
should outshine and dominate towards making it a huge success.
OKR is a framework, but also a learning process, while OKR is a
process that gives a fundamental shift in the thought process as
well as how people measure the work they put into it.
How to create an ultimate goal ?
For 30 years, AM Transport has offered manufacturers, and distributors outsourced logistics services. The firm is proud of its first people culture, which can be traced back to its founder, Avery McKinney. His son, CEO Michael McKinney, has always carried on his Objective "to impact the lives of people and our community profoundly."
Here are the examples of creating ultimate OKRs.
Access OKR templates for FREE
Example of an ultimate goal
- Provide an eco and better lifestyle (Handpicked)
- Be the Biggest leader of cloud communication in B2B (MSG91)
- Build the biggest automation in finance ( Giddhh)
- Become the fastest yet luxurious airlines in the world (Qatar Airways)
- Build the most customer-centric store that sells everything (Amazon)
- Build an ultimate fast and minimal team collaboration suite (intoSpace)
Tips for writing good OKRs
For Objectives:
- Objectives should be simple and can be readable in one breath, short and easy to memorize.
-
Objectives should be interesting and must fit the culture of the
organization and should always give you a sort of fun and chill
whenever you read it.
Use the most cool satire and fun slang as it has to be aspirational and keep you going whenever you read your objective.
For Key Results:
- Separate metrics from initiatives
- Set few of them. Usually between 2 and 5 per objective.
You can also use some OKR tool to help you understand the goal system.