Company leaders are always on the hunt to find the most effective ways to carry out objectives and streamline business successes.
The protocols used vary from one company to the next, and industry specifics naturally influence how business is conducted on a daily basis.
Regardless of the differences between companies, there remain overlapping factors that influence how likely it is a company will succeed and reach its unique goals.
Objectives and key results can be measured better than ever before using the OKR strategy, an acclaimed system that measures business goals effectively to get your company in tip-top shape. Here’s the run-down.
Defining OKRs: What Are Objectives And Key Results?
Objectives and key results (OKRs) harness company success from a framework of systematic design and order.
Today’s technology leaders utilize OKRs to create innovative and successful outcomes for their companies.
OKRs are a way to create and execute goals for teams of all sizes using a system of check-ins, ongoing teaching, and collaborative problem-solving.
To break down the framework of OKRs, consider the following:
Objectives represent the qualitative goals that offer inspiration and time-sensitive expectations for a given purpose.
One qualitative and exciting objective for a startup might look like:
- Create a refined, well-crafted search engine optimization strategy.
This specific goal can be combined with established metrics to make the Objectives and key results more measurable.
The key results might look like this:
- Hire five new analytics team members
- Increase consumer engagement by 12% in three months.
- Maximize satisfaction surveys from customers and clients by 75% by month three.
The creator of OKRs, John Doerr, explains that Objectives and key results can be broken down into five main factors:
- Extreme focus
- Enhanced transparency
- Full Commitment
- Progress Tracking
- Stretching OKRs
Although OKRs can be customized to meet the needs of a company, the company will, ideally, have no more than five OKRs per level and under five key results for each objective.
Rules To Remember
Objectives and key results are effective whenever they are short, clear statements that define the goal per team. Team members should be able to bring to mind the goals without referring to any system or written material.
The objective should be uplifting and exciting to team members. If this means making goals that include casual adjectives, that is encouraged.
Words like “awesome” or “amazing” can even be included to describe objectives.
Remember that key results should emphasize the outcomes instead of the tasks at hand.
Specific metrics help narrow the objectives’ focus and give team members more direction on how to execute the functions related to the company goal. You want to emphasize the metrics involved as precisely as possible.
By doing so, you create timeframes and references that are numerically specific, making both the Objectives and key results more approachable.
Keep Goals Transparent And Concise
Keeping things transparent and clear allows teams to focus on what needs to be done to reach their goals. Keep your OKRs concise and straightforward, and you’re on your way!