Because key results are measurable, they must also be configured so that progress can be tracked on each key outcome. By assigning a weighting of 100%, you can easily see the progress of each key result during registration. Once 100% is reached, the key result is considered completed. OKRs stand for Objectives and Key Results, a collaborative objective-setting methodology that uses teams and individuals to set ambitious and challenging goals with measurable results.
OKRs are the way to track progress, create alignment and encourage participation around measurable objectives. If you're looking for some OKR tools to help you set ambitious goals, check out these OKR tracking tools for personal goals and smaller teams and these tools for larger companies. Each set of OKRs must incorporate the organization's comments and be subject to multiple checks and drafts. Some of the best OKR tools are free, such as Google Docs and Google Sheets, or even a good old fashioned pen and paper.
OKRs are an effective leadership and goal-setting tool to communicate what you want to achieve and the milestones you will have to meet to achieve it. Writing an OKR that works starts with a statement of objectives that is practical, time-bound and ambitious. So, once you're clear about your company's objectives and you've put in place the right tools, schedule a team meeting to start brainstorming and fine-tuning the OKRs for the quarter. From brainstorming sessions on goals and objectives to tracking your progress, there are great tools to help you support your OKRs and stay aligned with them, especially when you're working in a remote or hybrid workplace.
Here are some specific tips on how to harness the power of OKRs in your small business to have a management and goal-setting style that produces quality results. In each OKR category below, there is an objective and two or three key outcomes for the identified objective. Whether it's a company-wide goal or a smaller goal for the department team, focusing on developing good OKRs has multiple long-term benefits. Continue with the OKR development process until you feel comfortable and have a better idea of what objectives and key results make the most sense for your company.
Other key differences between MBOs and OKRs are that the latter are quarterly, not annual, and are separate from compensation. Just because you've explained the OKRs and established the key results doesn't mean that you won't think about your progress until the end of the time period.