How to set and track OKRs
OKR stands for Objectives and Key Results. It is a management methodology popularized by John Doer back in 1999 at Google, ever since various other companies have adopted OKR like Linkedin, Twitter, Jira, etc.
OKR is meant to create engagement and ensure alignment with your company employees. This ensures a synchronized mindset and a streamlined process. Most companies leave their employees in the dark, letting them work for goals that are not clearly stated or explained. With OKR, you bring clarity to your employees by offering them full transparency on the company goals and objectives.
It doesn’t stop there!
With OKR, you can measure your goals through the achievement of the key results that you have set. The whole methodology of OKR makes sense because if you want to achieve your goals, it is only practical for your staff and employees to know about them. Companies that work with OKR set their goals on a quarterly or long-term basis or, in some cases monthly basis.
A quick example.
Objective: Generate higher Sales Qualified Leads
- Understand requirements of Market Qualified Leads
- Generate 100 Marketing Qualified Leads from Google Ads
- Generate 75 Marketing Qualified Leads from Organic Search
- Optimize results to generate 100 Sales Qualified Leads
Benefits of using OKRs
- A clear focus on the goal
- Teams are aligned
- Measure progress
- Increase transparency
- Create accountability
Why tracking OKRs is important?
OKRs bring a cultural shift to the organization. Creating a goal-oriented culture can be a daunting exercise for everyone. It is essential to have the following before the start.
- Executive buy-in – Leaders should be bought in with the idea of driving the goal and how that will make the goals transparent across the organization.
- OKR Champion – It’s important to have a dedicated OKR champion to drive the entire process and track check-ins and progress. OKR champions will own the entire program and the success. They will facilitate the training and also share the best practices. Champions will also be responsible for the execution of OKRs along with the key stakeholders.
- Allow managers to assign OKRs and approve team OKRs
- Create visibility on the team progress
- Increase Focus by showing the impact of alignment
- Facilitate Recognition and feedback within the team
How to plan OKR tracking?
Before starting the planning, as mentioned above ensure the executiv