Objective and Key Result Areas OKR
What is OKR
OKR stands for Objectives and Key Results, a goal-setting framework used by organizations to define and track objectives and their outcomes. OKRs help companies align their goals and ensure that everyone is working collaboratively towards the same objectives. The framework was popularized by John Doerr, who introduced it to Google during its early years.
OKRs are typically set on a quarterly basis, but they can also be aligned with the annual strategic planning of the organization. This framework encourages regular check-ins, feedback, and adjustments, fostering a dynamic and adaptive approach to goal management.
Here's a Breakdown of the Components
Objective
A clearly defined goal that is significant, concrete, action-oriented, and inspirational. Objectives should be ambitious but achievable.
Example – ‘ Increase sales order booking’
Key Result
Specific, measurable outcomes that will indicate achievement of the objective. Key Results should be quantifiable and time-bound, typically including metrics and milestones.
Example – ‘Increase Sale order booking from 100 cr to 150 cr within 6 months.
Product Features
OKR Management
- Strategic alignment
- Multiple key result areas
- Step by Step OKR Creation
- Inbuilt OKR templates
- Realtime dashboard and notifications
- Peed up daily activities with an ERP which provided real time data for decision making and has an intuitive, modern and collaborative user interface
Task Management
- Create and Prioritize tasks
- Link tasks with OKRs
- Kanban and list views
- Workflow management
- Rports and Dashboards
Employee Engagement
- Newsfeeds
- Mentions, comments, and reactions
- Reward System
- Award Dashboard
- Pulse Survey
Performance Management
- HR Dashboard
- Self-reviews and 1 on 1 with manager
- 360-degree feedback
- Periodic Reviews
- IDP and PIP
Focus and Commit to Priorities
Select a few key objectives to focus on rather than spreading efforts too thin.
Track for Accountability
Regularly track progress towards Key Results to stay accountable and adjust efforts as needed.
Align and Connect for Teamwork
Ensure all team members understand how their goals align with the overall objectives of the organization.
Stretch for Amazing
Set ambitious goals that encourage innovation and significant progress.
Main Principles of OKR
Benefits to Business
- Alignment and Focus
- Measurable progress
- Transparency and Accountability
- Engagement and Motivation
- Adaptability and Agility
- Enhanced Performance and Results
- Cross functional Collaboration
Case Study
Many customers from APAC, EMEA regions
Please check link https://www.profit.co/customer-stories/