OKRs are one of the most popular frameworks for setting goals. Goal-setting is an integral part of any organization’s strategy to be successful. Whether it’s a small company with five employees or a large corporation with thousands of employees, goal-setting helps teams stay on track with their work and reach success faster than they would without them.
It is an organizational management tool that helps you keep track of progress towards meeting objectives. Objectives are the broadest level, while key results are specific actions taken to meet those objectives.
This article will describe objectives and key results used to form OKRs
Forming OKRs
When forming OKRs, you should start with your company’s overall objectives, then drill down to department and team-level objectives. You can also create individual-level objectives if you wish.
There are a Few Ways You Can Set Up Your OKRs:
- Percentage completion: Objectives are assigned a percentage value that indicates the completion progress of the objective. For example, an objective could be set to 80% complete, meaning that it is not yet finished, but work on it is in progress, and the objective is expected to be completed by a specific date.
- Timeframe: Objectives can also have timeframes that indicate when they need to be completed.
- Milestones: Another way of setting objectives is by milestone. A milestone objective is an objective that needs to be met for the team or department to continue moving forward.
Things to Keep in Mind When Creating OKRs
The most important part of setting goals is making sure they’re SMART:
Specific
The objectives need to be specific so everyone knows what they aim for. Being specific also makes it easier to track progress and determine whether or not the employees meet the goals.
Measurable
Managers need to track progress and determine whether it is possible to meet the objectives. It can be tricky to measure some goals, but it’s important to make them as measurable as possible.
Achievable
Every organization wants to be successful in its business, but it’s important to set achievable goals. Unrealistic goals can demotivate employees and lead to frustration. Managers must ensure that objectives are challenging yet attainable.
Relevant
The objectives need to be relevant to the company’s overall strategy and goals. Departmental and team-level objectives should align with the organization’s objectives, while individual-level objectives should align with departmental or team-level objectives. With this, all employees know what they’re working towards.
Time-bound
Goals should have a time frame to meet. It helps teams stay on track with their work and makes it easier for managers to measure progress against the objective.
Working towards a goal within a timeframe helps organizations succeed since they know what they need to accomplish and when.
Conclusion
Organizations should set objectives and take key results to keep track of their progress towards success. OKRs are one popular method, but other frameworks can also work.
Managers should set goals for their team and ensure that these objectives and critical results align with its overall strategy. It will help employees stay focused on what they need to do to contribute to their success.
