Traditional strategies for accomplishing business objectives often fall short because of their use of top-down approaches. Rather than leaning too strongly on one aspect of business over others, divide responsibilities systematically. OKRs make this streamlining effect possible, as no one person is granted too many responsibilities. From a broader goal, the company divides up a subset of to-dos that are measured by key results. Objectives should be specific and measurable, but with enough openness to change if any problems surface. The versatile features of OKRs include the system’s flexibility and room for creative thinking when times get tough.
Utilizing OKRs to achieve business goals requires a careful understanding of company-wide objectives. Only from here is it possible to break down individual tasks that work as part of the whole. In OKRs, objectives are broken down into a pyramid structure. In this way, employees rest at the bottom, providing the foundational support the company needs to survive, while executive leaders rest at the top, authorizing what the key objectives are, and how responsibilities can be broken down between sector leaders and teams. Each element of OKR is a piece of the pie that makes the company what it is.
Why Use OKRs
The main reasons to utilize OKRs are to achieve ambitious and dramatic goals in a shorter time frame than expected. Most employees will only be able to produce results that equate to around sixty percent to seventy percent of the objective, but this is a good thing. If a worker can produce an output at 100%, then the OKRs are not challenging enough. Big results require massive efforts. Additional reasons are to create better alignment and communication across company sectors. When individuals and teams both have a clear understanding of their purposes and objectives within the company, the workflow becomes much more diligent and cooperative. A lack of direction leads to a lazy work ethic and procrastination. OKRs help to eliminate these potential setbacks.
OKR Examples to Consider
Need help getting started? Take a look at these common OKR examples. Top companies frequently integrate goals like these to make sure that they continue to stay ahead of the competition. Utilize these examples to begin crafting your company-specific OKRs. Be sure to consider your business’s unique needs and avoid copying every aspect of another company’s agenda. Consumers want to see what makes you stand out as a company, so staying true to your assets and customer services is just as important as establishing solid goals.
Businesses want to get as much done as possible and with as much success as possible in the process. These are the key priorities that OKRs revolve around, making the strategy a go-to choice for any business thinking seriously about expanding their growth and overall marketplace potential in the years to come. It takes time to build a strong company, but it can be a faster and smoother process with tools like OKR at your disposal.