Objectives and Key Results, or OKRs, are the metrics that may help you achieve your goals. However, they may sometimes appear to be both blunt and black-and-white. OKRs can also appear to be either too simple or too complex. So, there’s a sibling to OKRs called “CFRs,” or Conversations, Feedback, and Recognition. The latter gives the sometimes black or white grading of OKRs the necessary colour to paint a more descriptive picture.
The techniques of OKRs and CFRs, when combined, form Continuous Performance Management (CPM). This blog post will shed light on OKRs and CFRs, and how they can effectively be used in CPM.
What’s the main difference between a CFR and OKR?
OKRs and CFRs are useful tools for keeping employees and teams on track and formulating better processes. So, what’s the difference between them? The only difference between the two is the scale by which the metrics/objectives are measured.
CFRs can be considered as a smaller-scale version of OKRs. An OKR is a company’s strategic goals to be accomplished within one calendar year. A CFR is a set of targets that may be composed of several OKRs and should be accomplished within a shorter period—usually a quarter. It is essential to keep in mind that both OKRs and CFRs can be used for both individual and team objectives.
Tips for giving good employee feedback:
Establishing and maintaining good relationships is a crucial element in the success of your business. It’s also vital that you keep your employees happy and up to date with their progress. The success of the company and the work you do with your employees can largely depend on the strength of your relationship.
When you give your staff feedback, you must do it in a positive way. I know, easier said than done. But here are some tips to make it easier for you.
Positive feedback is the key.
Don’t just focus on the negative and try and change it straight away. Instead, focus on what you want to improve and celebrate it.
I’m not saying that you should not give negative feedback. If you find something negative in your employee’s work, tell them in a positive way how you feel and why you want them to change it.
Take responsibility for your employee’s progress.
Don’t tell your employees how good they are, only to take away their motivation with negative feedback. Instead, give them positive feedback on what they do. This will open the lines of communication so you can also give them feedback on the areas they can improve.
Take time with your feedback.
Don’t rush yourself when giving feedback to your employees. Instead, take the time to analyse what they have done before giving your opinion. Make sure you have an honest discussion with them so you can work out a solution together.
Every person is different, so you’ll have to use your own intuition. After all, a job is a job that has been done in a good time frame. We hope this has helped you to better understand OKRs, CFRs, and how to use Continuous Performance Management to better your business!
If you need more help with OKR, come to SKILLFIRE! Our mission is to enable everyone to live productive and healthy lives, including employees, consumers and people in need around the world.