Is your company properly setting goals? It’s easy to write down the big dream. But putting the action steps into achievable goals is vital to make them a reality.
Your company probably already uses S.M.A.R.T. goals. But they may not be enough. Instead, try initiating OKRs with your company to watch your profits soar.
What exactly is an OKR? We’ll give you some OKR examples and tell you everything you need to know.
What Is OKR?
OKR stands for Objectives and Key Results. It’s used by major companies like Google, Intel, Walmart, Airbnb, and more. Now your company can use it too.
Objectives provide clarity and direction for your team. When everyone knows what the objective is, it helps the team stay on the same page.
The Key Results are how you measure the objective. These measurements will help your team see their progress, and what needs work.
Benefits of Using OKR
OKRs are easily scalable, and they’re reevaluated often, usually quarterly. This makes it easy to track progress, and it helps the company see where things are getting off track.
OKRs help keep your team on the same page, and that’s probably the biggest benefit.
When to Use OKR
Most companies who use OKRs focus on about three Objectives at a time. Too many more provides a lack of direction. Too few can allow hang-ups as teams wait on others before they can move forward.
You should set OKRs at the beginning of every quarter. Check-in regularly to make sure you’re making progress at the desired pace.
Companies like Google break down OKRs into tasks specific to each team. Sometimes these are split further to each level within the team.
OKR vs Projects
When companies start to use OKRs, they often get Objectives confused with projects. They are, in fact, two different things.
The objective is the desired outcome. Say boost revenue by $100,000 this quarter.
The projects are the activities you do to reach that outcome. These are things like increasing the mailing list or adding more content to the site.
That’s all still pretty confusing. Here are a few examples to help clarify things. Or you can use an organization platform to help you set and track your company okr.
Objective: Boost revenue by 30%
- Reduce redistribution costs by 10%
- Add 1000 subscribers to our mailing list
- A/B test headlines for 30 articles
Objective: Engage our Customers
- Add 500 new subscribers
- Increase social media responses by 10%
- A/B test 60 social media posts
Use OKR to Keep Your Team on the Same Page
You’re ready to use OKRs to boost your company! You can use our OKR examples as a template to create your own until you get the hang of it.
Use OKRs to help your team stay focused on the same objective. OKRs let them know how you’ll manage that progress.
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