OKR (Objectives and Key Results) is a framework to help you focus and be more productive at the company, team, and personal level.
The business world is changing faster than ever. The traditional business practices alone are not enough to create an impact anymore. Hence, organizations and business owners need faster planning and modern leadership framework to deliver the best. This is where OKRs come in! Objectives and Key Results (OKRs) is a management framework now widely used by the biggest companies such as Twitter, Google, LinkedIn, and others. It is a rather engaging but straightforward bottom-up process that facilitates transparency, collaboration, and acceleration of outcomes for any organization. Your organization does not have to be as big as Google to use OKRs, it helps all companies to connect their vision, mission and company strategy with the operations to set clear focus across the organization and execute strategies timely.
Who is Using OKRs?
Objectives and Key Results (OKRs) is now becoming a common practice to set goals among companies from different industries of different levels. It provides clarity and effective feedback to leaders. This is why, today, many large companies are using OKRs to manage their goals. Some of them are: Netflix Asana Amazon Google Microsoft Facebook Intel Dell LinkedIn Adobe
How OKRs can Make you a Better Leader?
OKRs provide great benefits to HR teams and leaders, such as a better overview of everyone's role, progress, and identifying objectives that are not being met or off-track. Here's how it can help you become a better leader: 1. Alignment with the Company Vision According to Deloitte, high achieving teams have one thing in common; they are aligned with the company vision. In such a case, Objectives and Key Results are a great way to transform the vision of the company in small objectives with clear results. Through OKRs, it is easier for the team members to understand the focus of the company and create objectives that can help in contributing to the overall success of the company. OKRs clearly articulate what the organization is about. 2. Helps in Implementing New Work Concepts Setting up an OKR helps organizations in implementing new work concepts such as modern technology, digital marketing, new tools of collaboration, and much more. It also enables you to measure the impact of all projections and advances in the teams. You can integrate OKRs with your existing data software such as Asana or communication tools such as Slack, Google Sheets, etc. This way, you can free your employees from updating their progress, yet you can benefit from the precise measurement tools. A win-win situation! 3. Nurture Skills Good leaders set long-term OKRs to provide a roadmap to employees to achieve their goals. To assign OKRs, leaders should dedicate their own goals to develop the team. As a leader, it is also your responsibility to build the team using the right people and align their skills. Identify the skills your team needs and make sure you allow them to nurture those skills. 4. Alignment and Implementing Teamwork A recent study found out more than 90% of employees said they would be more motivated to work if their colleagues could see their progress and achievements. This tells us one thing; the goals and progress of team members should be public. So OKRs do not just tell us where the organization is going; they also tell us how each individual can help us get where we want to go. 5. Connect with your Team As a leader, you have to do much more than just inspire the team and assign them tasks. The key is to know your workforce first because it's crucial to connect with your team members on different levels. By different levels, the first level of connection is active face-to-face communication with the people you lead. The second level of communication is the junior staff thinking their leaders care. Using OKRs, you can create a dashboard that tells how well your teams, departments, or individuals are performing to achieve the key results. 6. Deeper Collaboration The workforce in this era has broken down all geographical barriers, all thanks to the digital transformation. With geographically dispersed teams, it is a challenge for HR leaders to ensure each team member is actively involved in work and feels like a part of the organization. OKRs connect all team members despite their location. They are a great way to promote collaboration, as all members are held accountable for their objectives. Moreover, employees are also able to see the check-ins and updates from other team members, which acts as an excellent means of communication. 7. Transparency & Higher Motivation As the company goals are aligned throughout the organization, it increases transparency to a great extent. Each member of the team is aware of what other teammates and co-workers are working on and how the goals are aligned with each other. As OKRs promote transparency, employees see the CEOs and team members hustle to get the job done, which creates a working momentum throughout the organization. Moreover, there is also a greater sense of accountability among team members to perform their part well. Once every member starts making progress, the impact goes from the bottom up and encourages team members to achieve more, individually as well as together. Lastly, as employees are recognized continuously, there is a higher motivation among employees as well. Wrapping it Up We all aspire to give our best when it comes to our jobs. Leaders are seen as a source of inspiration for newer team members. So, if a team has implemented OKRs, it means that they are pretty serious about reaching the full potential of their team. It is also a great way to maintain employee engagement. We have jotted down every way OKRs can make you a better leader, but at the end of the day, it's all about the actions you take for your organization. Do you work by goals in your organization? How do OKRs help your leaders? We would love to hear it from you!
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