Best Practices for OKRs

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Best Practices for OKRs

Do you want to make sure that your employees can reach their goals? Are you looking for a way to make it easier for your manager to accomplish the objectives you set for them? If so, then you should think carefully about how you are setting these goals. For example, one tool that you may want to learn more about is called objectives and key results, usually shortened to OKRs. You need to make sure you get the most out of your company objectives, which is why you should learn and follow OKR best practices. What are objectives and key results? How are they different from key performance indicators, usually shortened to KPIs? There are several important points you should keep in mind. 

First, you may be wondering where objectives and key results came from. Originally, this is a goal setting technique that was developed by Andy Grove at Intel, and made popular at Google. If you were to search the term OKR Google, you would find that much of the success at Google led to other companies in the technology industry adopting this goal-setting method as well. From there, it spread to just about every other industry. Today, OKRs are among the most popular tools for goal setting in the commercial world. 

There are a lot of people who are wondering how OKRs are different from KPIs. Importantly, both tools can be helpful. However, there is a difference when it comes to evaluating OKR vs KPI. For example, OKRs tend to be much more ambitious by nature. They tend to serve as a motivational tool and provide goals that are qualitative. Most OKRs tend to be focused on growth. In contrast, key performance indicators are usually focused on measurement of metrics across the business, and tend to be more attainable. They can certainly still be ambitious; however, the goal is to set goals that can be achieved in the near future. As a result, they tend to be more quantitative in nature. They tend to be a performance evaluation tool, so they are focused more on metrics than performance of a larger initiative. 

If you want to get the most out of an OKR tool, it might be helpful to take a closer look at an OKR workshop where you can learn more about the best practices. Now, let’s dive into when you need to know about OKRs. 

OKRs Explained

If you are looking to have OKRs explained, it is important to focus on the OKR format. When it comes to objectives and key results, you may even want to look at the Google OKR book. Learning more about Google OKR examples may be able to help you set your own. 

It is critical to follow several best practices when it comes to OKRs. First, you need to make sure you get everyone at your company to buy into what you are doing. Why are you deciding to go with OKRs? Why do you want everyone to participate? If you want your employees to buy into the process, you have to participate in the process as well. That way, they know they are not being singled out or having their effort go to waste. 

Importantly, you have to make sure that you do not turn everything into an OKR. Otherwise, your goals are simply going to become saturated and watered down. If your employees have a hard time keeping track of their OKRs because there are so many of them, you are not going to get as much out of them as you would like. 

Finally, you also have to make sure you place your employees on a reporting schedule. How often are you going to check in on their objectives and key results? What are you going to discuss at these meetings? If you allow your employees to develop a rhythm when it comes to their objectives and key results, you will have an easier time monitoring their progress and helping them meet their goals. Make sure that you are transparent about your OKRs. That way, everyone knows exactly how they are being evaluated. 

OKR Examples

If you are trying to develop company OKR examples, it might be helpful to take a look at examples of good and bad OKRs. For example, a bad objective and key results concept will not line up with the OKRs of the company. Remember that when you are measuring your OKRs, you want the objectives and key results of your company to line up with the OKRs of the managers and executives. That way, everyone is on the same page. If the company is not working toward one common goal, you are going to have a hard time keeping up with your competitors. 

In addition, it is helpful to look at good OKR examples as well. For example, if you are producing a new software platform, you may want to double your subscriber list by the end of the year. What are the key results that are going to help you get there? You may need to increase the number of followers you have on your social media page by doubling the frequency with which you post about the software platform. You may also need to hire beta testers who can work on the new software program, making sure it is ready to go to market. Finally, you may also want to increase the number of LinkedIn followers you have to raise awareness about the new software platform.

This is just one example of an objective key result you may want to set if you are trying to develop a new software platform. You can adjust your OKRs to meet the needs of just about any industry. For example, you may have an objective to increase your success rate when billing insurance providers for a hospital system by 50 percent. Then, you can think about the key results that are going to help you get there as well. How can you set your OKRs? What do you have to keep in mind? 

How To Set OKRs

If you are wondering how to set OKRs, remember that the most important thing about setting OKRs is that the objectives and key results that are set by your employees have to line up with the OKRs that are set by the rest of the company. That is where OKR planning is important.

The first thing you have to do is figure out what goals for your company you are going to turn into OKRs. If you simply try to set OKRs for everything, you are going to have a hard time keeping track of them. Therefore, you need to go through an OKR prioritization process and figure out what is actually important to your company.

Then, you may want to provide a workshop for your employees where you teach them how to set objectives and key results. Remind your employees that everyone at the company is going to be using this process moving forward. That way, they understand that their bosses are going to be using this process as well. Then, clearly define for your employees how they are going to be evaluated. Make sure they have an easy time tracking their performance. That way, they are not blindsided when they walk into an evaluation meeting with their manager. 

Finally, you may want to go through a few examples of objectives and key results with your employees as well. That way, they understand how they can set personal objectives for themselves as well as the company. You also want to show your employees how they can set their key results. The key results have to be directly tied to the objective. The goal is to accomplish key results that are going to help your employees accomplish the overall objectives. The first time your employees are setting OKRs, they may have a hard time setting or finding their key results. 

How To Implement OKRs

So, you might still be wondering how to implement OKRs. One of the most important things you have to remember when it comes to your OKR implementation guide is to make sure the entire company buys into the process. If you are only asking your employees to do this and not the managers or executives, your employees are not going to be willing to participate. You might be able to force them to write OKRs; however, you are not going to get them to buy into the process. If you want to maximize the benefits you get from your OKRs, you need to get everyone at the company to buy in. 

Then, you need to find the right OKR tools, as this is going to be one of the most important OKR implementation steps. That is where Elate can be helpful. This is a platform that can provide you with access to a clear guide, outlined steps, and helpful tips that can assist you in getting the most out of objectives and key results at your company. Even if you have never set OKRs before, Elate can help you get there. Furthermore, Elate is also intuitive to use. You don’t have to worry about a massive learning curve or long implementation when you are rolling it out to your company.

Finally, one of the biggest benefits is that you can also track your performance over time. For example, you can make sure you are hitting each of your individual key results as they are listed beneath your objectives. You can also see how your employees and managers are doing as well. Then, when it comes time for an evaluation session, you can easily refer to Elate and take a look at each key result tied to objectives. If you would like to get the most out of your objectives and key results, put Elate to work for you.

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