Objectives and Key Results (OKR). It is a collaborative goal-setting tool used by teams and individuals to reach for their most ambitious goals with measurable results.
Ultimately it is your Goal, and Destination in one.
OKRs help us to execute our strategy and focus. We set, communicate and monitor goals and results while we better align dependencies across teams. Next, they drive team accountability through a focused and rapid and highly focused weekly check-in typically completed in less than 15 minutes.
Instead of using annual static planning, OKR takes an agile approach. By using shorter goal cycles, companies can adapt and respond to change.
Using OKR is straightforward, and the OKRs themselves are easy to understand. Intel’s original model set goals monthly, which required a lightweight process. Companies that adopt OKR reduce the time spent setting goals from months to days. As a result, they invest their resources in achieving their goals and not on setting them.
The primary purpose of OKR is to create alignment in the organization. To do so, OKRs are public to all company levels — everyone has access to everyone else’s OKRs. The CEO’s OKRs usually are available on the Intranet.
Instead of using the traditional top-down cascading model that takes too much time and does not add value, OKR uses a market-based approach that is simultaneously bottom-up and top-down.
Separating OKRs from compensation and promotions is crucial to enable ambitious goals. Employees need to know they will not lose money if they set ambitious goals. It is hard to set ambitious goals when you need the bonus to pay for your kids’ college tuition.
Shorter goal cycles enable faster adjustments and better adaptation to change, increasing innovation and reducing risks and waste.
The use of shared OKRs improves collaboration among different teams, solving interdependencies and unifying competing initiatives.
OKR simplicity makes the goal setting process faster and easier, drastically reducing the time and resources spent on setting goals.
OKR bottom-up approach for goal setting connects the employees with the company’s objectives, increasing engagement.
Teams receive a clear direction and are free to choose how to achieve their OKRs. They become responsible for their objectives, with clear success criteria known to the whole company, creating mutual obligations.
The reduced number of goals creates focus in the organization and more disciplined efforts and initiatives
We offer assistance for OKR setting as well as planning, delivering and debriefing your OKRs quarterly at any level. Let us know how we can help.