OKR is an effective goal-setting framework that comes up with countless benefits to organizations.
The benefits of OKR Tools are so evident that most multinational companies like Google, Adobe, Intel, Spotify, and Netflix have implemented it and yielded tremendous business success.
Objectives and Key Results (OKRs) are powerful tools to put forth the goals of the organization. It aids in drafting the Vision and mission, boosts employee engagement, and unveils the priorities of the company.
Though the benefits of OKRs are widely discussed we limit it to a few. In real-time practice, it brings in a lot more than what we discuss. Having worked with our customers in implementing OKRs we understood various dimensions to it when the team is diverse and dynamic.
Having said that, let’s dive into the benefits that an organization attains by using OKR software.
To begin with, there is a sense of ownership to every individual who is involved in this process.
15 Benefits of using OKR
1. Sense of Ownership
When we know the mission and our contribution to the journey of an organization, it facilitates teams and individuals to own what they tend to deliver. We feel that we are a cog in the wheel and in such scenarios the information is flown freely which contributes to being powerful and engaged
2. Set the sails to Align
Companies prefer OKRs for the swift alignment of individuals and teams towards the unified organization’s goals and objectives. OKRs assure that the teams set their objectives and key results in line with the company goals. Though the OKRs are shared among the teams, at the same time there need not be similar. All teams are aligned and approach the bigger organization’s goals by using valuable resources and expertise.
3. Guided direction to the teams and individuals
Once the goals are aligned, OKRs provide a clear picture of what the company expects from the employees within their team’s perspective and the nature of the function. OKRs direct the team members to contribute to the overall success of the company objectives.
4. Commit OKRs for Resource planning
Commit OKRs allows you to plan with the resources at hand currently. Once OKRs are written we tend to identify the resource to be allocated to ensure the best outcomes. OKRs help the management to identify and fill the gaps in resource allocation and get the desired results.
5. Aspirational OKRs promotes Innovation and Improvement: OKRs always impact the growth curve of the organization. They foster growth through innovation and improvement. OKRs are not just do lists of the regular day-to-day work, but it focuses on how we do and what we do. Aspirational OKRs allow you to stretch and go beyond your comfort level.
6. Performance culture
Objectives and Key results play a vital role in setting ambitious, measurable, and unique goals. This enables tracking the progress of the individual, team, and the whole organization and how far they have to proceed towards the goals.
OKRs inherit the performanceculture to the employees by the employees to aim higher than usual. It enables them to set higher standards and drives them to achieve goals constantly, which gives a platform for setting more ambitious goals in the future. Employees always tend to outsmart their own goals and observe their teammates’ approaches to achieve the goals.
7. Being transparent increases accountability
To align the teams in the same direction, transparency is the key. Employees work in cross-functional teams and share OKRs within teams that encourage them to have healthy communication. The progress towards their objective is transparent and each employeeis accountable for their performanceand output.
8. Data-driven decision making
OKRs give clear real-time data on how the team progresses towards the goal using periodic check-ins. Dashboards depict the accurate view of the progress within the given period at all levels, which are usually up to date. OKR Software acts as an effective tool that provides a clear insight into whether the organization moves on the right path towards the goals set. These inputs help the management to make strategic decisions at right time with the pre-assessed data.
9. Identify Problems along with solutions
OKRs let the team leaders and the management identify the issues immediately with the help of the insights on the individual and team’s progress outcomes. Potential issues are identified at right time and fixed to enhance the smooth functioning of the organization.
10. Analyze gap and promote learning
OKRs are assessed and reviewed periodically. If the goals set in the given period are not met, it enables leaders to figure out the root cause of the setback and apply solutions for the same at right time. This also helps to avoid the same mistakes in the future and reduce the big risks for the organization.
11. Together we achieve with cross-functional teams
OKRs are usually shared between teams and are concatenated in nature. It creates an interlink between the teams at different levels and enables them to work collaborate. With the support of everyone, each team members achieve their respective goals.
12. Bird’s eye view
OKRs align the goals of individuals and teams in such a way that they contribute to the overall company’s objectives. Contribution from every single person and the team enables the company to move closer to its goal which in turn fosters the management to have a whole picture and make decisions accordingly.
13. Making your roof shot goal possible
OKRs have a golden rule to set ambitious and never easy goals and to achieve the same employees need to think out of the box, make trials and come up with creative ideas to fulfil the objectives.
OKRs give room for trials and experiments. The outcome of those experiments is analyzed and reviewed periodically to know how far they work well. In case of changes, it can be done at the initial stage itself.
14. Engagement at its best
OKRs become more successful when the team’s outcome is on the higher side rather than the individual’s performance. The organization’s overall goal is achieved only when the team members realize their responsibilities and collaborate with each other’s functional expertise. OKR contributes the best platform for the employees to work together as a team and move towards the company’s common goal.
OKRs give a clear picture of the individual’s responsibilities and help them to prioritize the works they need to do to achieve the set targets within the given period. It also encourages the employee to stay focused on tasks and be responsible for their performance.
15. Creates Autonomy
OKRs are more of a result-oriented framework that is designed to focus on the results. Hence, employees get the opportunity to set their own goals in line with the team members and the organization’s goals. Instead of working on a goal that is forced on by the leader, OKR enables the employees to stay committed to the goals set on their own.
OKR software tracks the progress of each individual periodically, which saves time in team discussions. Focus is laid on getting aligned, monitoring the progress, what is to be done and what’s not. Provides a clear understanding of the outcomes and gives a unified idea of the level of success that the organization going to make. It helps the management to focus on the things that create maximum impact and enables to deliver valuable results.
Our OKR coaches will work along with the organization to create specific OKRs that align with and deliver organizational objectives. Write to Datalligence for implementing OKRs today.
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