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OKR basics that you should know

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OKR is a goal-setting framework, used by many individuals, teams, and organizations to define measurable goals and track their outcomes. OKR helps in the alignment of professional & personal goals. It also helps in the Performance management of the company. Moreover, It enables tracking employee progress which is necessary for businesses.

There are two elements of an OKR:

Objectives

-Objectives answer the question of What? (what do you want to achieve)
-You should start by identifying 3-5 key objectives of your company, team, or even on a personal level.
-Objectives should be ambitious.
Objectives should also be SMART(Specific, Measurable, Actionable, Realistic, and Time-Bound)

Key Results

-The key results answer the question of how? (how will you achieve it)
-Key Results should be clear, quantifiable, achievable, but not impossible.
-Key Results should be composed of 3-5 points.
-Key Results Should be measurable.

OKR will help you in many ways –

  • In making right direction
  • In aligning your priorities
  • In Managing performance
  • In Measuring OKR performance
  • In tracking progress (OKR Tracking)
  • In Developing a sense of accountability
  • In increasing transparency and communication

Here are some basics of OKR :

  • OKRs Tool is for every company– Objectives and Key Results act as a survival tool that can help small start-ups by guiding them. Medium-sized companies that are experiencing rapid growth can benefit from OKRs too. Large companies, OKRs help eliminate barriers and strengthen connections between teams, departments, and individual contributors. OKRs encourage enterprises to take their goals seriously and work towards achieving them. OKR helps even the most successful companies get closer to their goals.
  • OKRs increase chances of progress– Writing down your goals increases your chance of attaining them. When you share the information with your employees, they can work together and make progress. Moreover, OKR Tracking is a great way of making sure that the little details/mistakes don’t go unnoticed and constant progress is made.
  • Quality over Quantity– The ideal number of objectives is between 3 and 5. It is essential to have goals, but if they are too many it can distract you from focusing on the most important things. The idea that quality is more important than quantity resonates throughout the OKR basics.It is better to set fewer goals in a specific period, rather than many uncertain ones, no matter how big or small they may be.
  • Eliminating Fuzzy Thinking– OKRs can be a useful tool for guiding your company towards success and growth. They will not replace leadership skills, workplace culture, or sound judgement in the department but, they will help strengthen these fundamentals and guide you toward big picture objectives that need attention now so you don’t get lost along the way.
  • Setting Ambitious Goals– OKR is designed to help set challenging yet achievable objectives that push your team to do their best . By setting an ambitious OKR, you are setting your team up for success by giving them a clear and attainable goal to strive for. OKRs are designed to stretch your team’s limits and push them forward. Additionally, setting an OKR gives you a way to measure your team’s progress and identify areas where they may need more support. Ultimately, setting an OKR is an essential part of ensuring your team’s success.

Huminos is the ultimate OKR software that your business needs.

Source: Plato Data Intelligence: Platodata.ai

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