OKR is a goal-setting framework, used by many individuals, teams, and organizations to define measurable goals and track their outcomes. OKR helps in the alignment of professional & personal goals. It also helps in the Performance management of the company. Moreover, It enables tracking employee progress which is necessary for businesses. Furthermore, OKRs also help teams and individuals get outside of their comfort zones, prioritize work, and learn from both success and failure. There are so many OKR best practices that a business can adopt to achieve success.
There are two questions to be answered to successfully set up OKRs:
- Where do I want to go? (This answer provides the objective)
- How will I get there? (This answer provides the key results)
When developing OKRs, try to avoid these mistakes-
- Low-value objectives
OKRs should be written in a way that promises clear business value. Otherwise, there is no reason to expend resources doing them. Lower-value objectives, even if fully achieved, will have little effect on your organization.
- Miscommunicating stretch goal OKRs
To complete a stretch goal, the team members must communicate with each other and their dependents. If your project depends on another team’s objectives make sure you understand their goal-setting philosophy. If employees are using stretch goals you should expect them to deliver on about 70% of their stated OKRs.
- Business-as-usual OKRs
The goal of an OKR is to make sure that top efforts are not sacrificed for lower-priority tasks. If you find yourself with more than typical business-as-usual objectives, drop the less important ones and reassign your resources towards those which will bring value. The key results should evolve to push the team to continue to innovate and become more efficient.
- Insufficient key results for objectives
Even if you think your objective is clear, there can still be unexpected mistakes. If the key results for a given objective don’t represent all that is needed to fully achieve that objective, an unexpected miss on that OKR can happen. That can cause delays in both the discovery of the resource requirements as well as the discovery that the objective will not be completed on schedule.
The right OKR tool is essential in helping your team move towards a shared goal at an accelerated pace. Huminos is a powerful OKR tool that will help you and your team to achieve success.