Introduction to OKRs!
Setting Goals is never an easy task, and it becomes more complex when we want them to be done in the correct way.
I will be writing about this topic in a series of articles, and this article will be covering only the basics.
So, WHAT is an OKR?
OKR stands for “Objectives & Key Results”.
Objectives -> Defines the WHAT
Something you want to do, or achieve. Your mission is supported by the goal with a deadline tied to it. Basically, under this section, capture the highest priority things you or your team needs to achieve in next one month or a quarter.
Key Results -> Defines the HOW
Measuring your accomplishments against your objective is critical, and that’s what we do here. Defining a roadmap of your objectives will help you track your progress, and that too if it’s in the right direction or not. Basically, we create benchmarks and monitor the progress towards our objective.
Although, this is a framework for goal-setting, but I would recommend you think of it as a mindset.
WHY we need OKR?
OKRs are not only for leadership, but also for individual contributors and team members. Here are some of the benefits of using OKRs:
- Improves Teamwork as everyone focuses on what matters the most
- Helps team alignment with the company strategy
- It helps convert big missions into actionable items
- Makes teams accountable
- Easy to pair with the Agile mindset
How OKR is different from KPI?
Metrics are often connected to OKRs, however, here is a quick comparison:
Finally, some important Do’s & Don’ts:
In my next articles, I will cover insights on how to create OKRs and implement them.
Happy learning!
