What is your company reaching for? The moon? Here at Glints, we’re focused on becoming Asia’s top career discovery platform. With a massive goal like that, there are many bridges we’ll have to cross. So how do we know when or which bridge to conquer? This is where focusing on objectives and key results come in. More affectionately known as OKRs, this is goal-focused framework raved about by the likes of Google and LinkedIn.
I mean, where are you going to go without any goals? Read on to find out more about this method:
What exactly are Objectives and Key Results?
It’s pretty simple. Like its name suggests, OKRs consists of two parts: Objectives and Key Results.
Objectives are the qualitative descriptions of the outcome of your goals and what you want to achieve. These should be no longer than two sentences each. A good gauge would be to have three to five objectives. Give your objectives scope by including time-frame, and specific actions. Without guidelines, you’ll get nowhere!
But how do you measure a ‘better’ retail experience? Doesn’t that seem a little abstract and subjective? This is where key results come into play. Key results are measurable results that are concrete, kind of like mini milestones. Every time you hit a milestone, you’ll know you’re on the right track! The purpose of these key results are to help keep the company focused on aspects they should be working on.
If you’re wondering whether or not it’ll actually work, just take a look at Google. Having implemented the Objectives and Key Results method since 1999, Google sets four to six OKRs every quarter. Any more, they say, will be too much to juggle. Prior to their implementation of Objectives and Key Results, Google was only in its startup phase. Look what the huge tech giant has achieved with concrete goals and objectives!
OKRs are a quick and easy way to keep your company’s eyes on the prize. But what’s so great about OKRs anyway? Aren’t they just like normal targets?
The benefits of using Objectives and Key Results for your team
1. Doing more by doing less
Five times your team’s productivity with some snazzy OKRs. With good objectives and key results, your team will no longer have to run around like a bunch of headless chickens, tapping at their computers with no goal in sight. An ambitious OKR will help your team zoom in on what needs to be done, making every tap of the keyboard count!
2. Crystal clear communication
With OKRs, work delegation will also come easier for both your team and you. Whether it’s rushing out a report or a new digital marketing plan, you’ll be able to tailor tasks to your key results. When it comes to feedback, having objectives and key results will also help you and your team identify flaws in your process. Rectifying proposals and tasks will be no sweat if you keep your OKRs in mind. This swift teamwork helps overall workflow to be more fluid.
3. Adapt super quickly
Quarterly OKRs let you and your company have more space for adjustment. The changing objectives will help to push your team to churn out more innovative ideas, boosting productivity. With goals changing every quarter, your team will have to adapt and be quick on their feet! OKRs give a new clarity of purpose to your team, and will hopefully inspire them to reach for the stars.
OK(R), here are some resources
Setting objectives and key results need not be on huge powerpoints or presentations. Key results can be presented on platforms are simple as small checklists or progress tables. Websites such as Trello are great for tracking your progress. With easy to draw up graphs and checklist widgets, you’ll be able to watch your progress as the quarter goes by.
Alternatively, many companies also draft up OKR spreadsheets for easier access. Here’s a cool excel sheet example done up by Perdoo! Honestly, whether you use online templates or pen and paper, your objectives and key results will remain the same.
Go make some magic with Objectives and Key Results
Whether it’s setting company wide objectives and key results or ones for your own department, we suggest giving the strategy a whirl! Sitting down and creating OKRs with your team will be a great bonding experience, and also revitalise your team for a fresh quarter ahead. Envisioning possible outcomes, what you want to achieve and how to get there will jumpstart your weary productivity journey.
So go forth, and put your plans into play. If you’ve used objectives and key results before, share with us how they turned out, we’d love to hear from you!
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