How to implement OKRs. Steps towards your new Goal Setting Strategy
11 Dec, 2018
If you have reached your goal at 100%,
then you played it much too safe, according to Google.
Building an internal, annual strategic plan for the business is the most important challenge for Top Management. If you ever asked the question: How to become fast-growing and scale business processes easily? Then it's just the right time to become more flexible and modern with OKRs.
Objectives & Key Results (OKRs) goal-setting system that helps to focus on really important objectives and synchronize work of all teams/departments. OKRs are essential for companies for which it is vitally important to have an easy goal setting process with a clear track and monitoring system. In addition, a company will get highly engaged employees, who have a personal growth and that can realize their own ambitions.
Where do we start a new Goal Setting?
To begin with, you should make sure that your Vision and Company’s strategy are accessible and understandable for all your colleagues. Ask yourself, are strategies for each department transparent and clear to everyone? Besides business priorities, you needed to draw attention to the human factor.
When you determine company's vision you should remember, that it answers the question "How do we see ourselves in the future?" Vision can change over time and not have a specific deadline. In fact, this is an aspiration, the desire of the company to become the way they want to be in N years.
At the same time, company's strategy answers the question “How exactly are we going to achieve our vision?”. Strategy -- is a more complete decoding of the way to reach company's vision. As soon as these issues are closed, it’s time to set your OKRs
Set Strategy Objectives. Let teams do OKR for themselves
The basic process is as follows: if you set goals as problems that need to be solved, problems cascade from levels higher. You should define only strategic objectives for highest levels, and at the crossroads of company levels goal setting may well be carried out “from the bottom”.
Which means if the departments have the direction objectives in front of their eyes, the teams are able to set their own OKRs independently. The best practice is considered just the setting the Objectives from the bottom up.
Identify measurable Key Results
The way how you defined Key Results is the soul of the entire OKR framework. Your Key Results are measurable indicators of the achievements of the company’s objective. They tell you how far is the objective achieved. KRs for each level are not activities/tasks, they are results. Best practise for KRs are:
- Achievement of Key Results is evaluated on a scale from 0 to 1 with the ability to reflect intermediate states.
- Key Results must be focused and have a clearly defined scope.
- Principle for KRs is collaborating with your team and working together to identify the best ways to achieve your objectives
- OKRs are NOT performance reviews and should not replace employee performance evaluations.
Now, It’s Up To You
The OKR system can be a strategic foundation core for your strategic planning. It can be a new solution to boost your productivity, results and employee focus. Using this system you can:
- Achieve ambitious Objectives and get measurable Key Results.
- Synchronize the work of big teams and departments
- Became easy scalable and aligned with Strategy and Vision
- Increase Clarity and Collaboration through all company levels