OKR is a critical thinking framework and ongoing discipline that seeks to ensure employees work together. Helping your organization focus their efforts on what is most important in order to make measurable contributions that will drive the company forward.
OKR stands for Objectives and Key Results
Goal setting increases team autonomy, employee engagement, and offer many benefits. I.e, Google, Linkedin, Mercedes-Benz, Adidas, Facebook, and Amazon use OKR.
Furthermore, The OKR Framework aims to define company and team “objectives” along with linked and measurable “key results.” This provides “a critical thinking framework and ongoing discipline that seeks to ensure employees work together, focusing their efforts to make measurable contributions.
What is an Objective?
Equally important, an objective is a concise statement outlining a broad qualitative goal designed to propel the organization forward in a desired direction. Basically, it asks, “What do we want to accomplish?” A well-worded objective is time-bound (doable in a quarter) and should inspire and capture the shared imagination of your team.
OKR example: Drive better attendance at our annual user conference to boost the member experience.
What is a Key Result?
Lastly, a key result is a quantitative statement that measures the achievement of a given objective. A key result asks, “How will we know we’ve met our objective?”
A key result could be for the objective above would be to, Increase the number of attendees from 350 to 600.
Benefits of OKR
- Align and connect your employees to your corporate goals.
- Give clear direction to every team and individual.
- Increase productivity through focus on goals.
- Track regular progress towards goals.
- Make more effective and informed decisions.
- Achieve measurement, accountability, and transparency.