Companies set Objectives and Key Results (OKR) hoping for successful business outcomes, but many eventually forget about them. As a result, it becomes difficult for everyone to track their progress, feel disconnected from their purpose, and managers lead passively. On the other hand, other businesses fail to set these objectives at all.
To help you grow your business, here are some tips for setting and achieving your company OKR:
Use SMART Criteria
The SMART criteria stand for specific, measurable, achievable, relevant and time-bound. Using it can increase your chances of achieving your goals. This is especially true because the key results are written in a SMART way. For instance, specificity promotes accuracy, measurability allows you to monitor your progress, and achievability reminds you that your objectives should be realistic. Relevance and time-specificity are also crucial in goal-setting. Given your OKR cycle is defined, we don’t need to include a deadline in the OKR. We do however need to believe the OKR can be achieved within this time period.
Have some rest
Rest is vital in productivity. In fact, being busy all the time may hinder you from achieving your goals. To become a more effective working professional, consider using your time away from work to get a fresh perspective and use it as a chance for introspection. This way, you can see more clearly how your efforts are linked to business outcomes.
Track your progress
Implement a system for tracking your progress. To avoid wasting time, save yourself the hassle of checking your performance manually, invest in software that automates processes. Ensure that the system tracks all your OKRs and KPIs (aka Health Metrics).
Conduct weekly check-ins
At the beginning of the year, you and your team may have developed goals. It’s easy to stay motivated at first, but you may tend to forget your plans and objectives within a month or so. This is the power of OKR. The quarterly cadence keeps a near term focus, but embedding it in your weekly operating rhythm is critical. Encourage everyone to stay on task by conducting short check-ins every week. It involves using five to ten minutes to go over your OKR and update your measurable progress at the end of your week. Doing this motivates you and your employees to work harder to achieve their OKR.
Hold regular performance reviews
Conduct regular performance reviews to evaluate your success rate at the end of every quarter or half a year. Start your performance reviews by exploring the team member’s self-reflection on their contribution to the OKR. This is an incredible opportunity to identify opportunities for support and greater focus. As you conduct regular evaluations, you can encourage everyone to become outcome-oriented and make your company more effective, efficient, and productive.
Promote employee engagement and motivation
You may have already set OKRs that perfectly align with your vision and suit your company. However, they won’t work out unless you and your team are highly motivated and engaged to work towards those OKRs. To address this, promote employee engagement and motivation by connecting them with the why behind each OKR. Also, reward their focus and engagement with OKR activities
Making a mark in the industry and attaining the success that you have always wanted is only possible if you set corporate OKR and take steps to achieve them. The best way to do this is to follow the tips in this guide. This way, you can encourage a transformative movement within your company to reach your desired outcomes.
Achieve your goals by reaching out to our team at SKILLFIRE. We can offer you an:
- 8-week OKR Quick Start – An 8-Week Program that will help your teams drive radical value for your customers and business.
- Free Introduction to Facilitating OKR for Teams– Basic training to get you started on your OKR journey
and other coaching programs to help businesses in Australia thrive and stay ahead of the competition. Collaborate with us to boost your business’s performance!