n the mid-1980s, Andy Grove and Gray Kennedy were playing around with ideas around traditional goal-setting models when they came up with what would go on to become a very popular framework among conglomerates such as Google and Linkedin; the Objectives and Key Results System.
The objectives and key results system involves a collaborative effort by a team working towards a certain goal so they set their objectives and note the measurable results. The OKR system is popular because of its wide range of uses and a single company can use it across multiple departments with the aim of achieving company goals.
Perhaps one of the system’s biggest advantages is flexibility. The OKR system can be used to achieve your personal goals as well. As a business owner, your personal goals should align with your company goals and those of your employees.
Here are a few ways you can leverage the OKR system to elevate your business to the next level. Or you can check more OKR examples here.
Set Quarterly and Yearly OKRs
Too many objectives over a certain period will create a culture of disorganisation in the company. Try and set high-intensity goals over a short time such as every three months. This can help shed some light on the direction the company is taking towards achieving its much bigger goals over the business year.
Add the Key Results Expected from Each Objective
After setting your objectives, the team should work to define an expected outcome from every objective. The results should also be measurable in order to get accurate information. Setting a target and a clearly defined outcome will give your team a better outlook and enable them to make better business-centric decisions.
Set Goals That Will Inspire Your Workforce
An inspired workforce is one of the pillars of any business. Some objectives may however discourage your team. Having a clear objective that contributes to an even bigger mission will encourage your team to be part of something bigger. Setting actionable steps towards the objective is important so as to eliminate future doubts.
Assign Appropriate Responsibility
For the sake of efficiency, it is important that you assign each goal to an individual or team leader. Once one is given the responsibility of achieving a specific target, the weight of accountability will push them to go the extra mile.
You can break the objective down in order to split the workload over a number of people but be sure to assign the tasks to the right people.
Review Your OKRS Regularly
An occasional review of your objectives ever so often will ensure you spot any trouble before going too far. You will also be able to detect non-performing workers or unachievable goals before spending resources on them.
Aim to Achieve 100%
A driven company is an unstoppable company. Once you instill the drive to achieve all your objectives, the team behind you will follow suit. A lot of times you might fall short of a few goals here and there but the will to achieve all of them has to be there for you to grow.
The Bottom Line
The objectives and key results system is one of many frameworks used by businesses to achieve their targets. A well implemented OKR system will see your business achieve unprecedented growth.
Always be sure to clearly define your objectives and those of the company and its employees and watch your business scale upwards to greater heights.