Objectives are goals that you want to achieve. They are meaningful, specific, action-oriented and aspirational. On the other hand, key results are tasks or actions that help you achieve your goals. They are measurable, time-limited, aggressive, yet realistic.
Key Objectives and Outcomes (OKR) is a goal-setting framework that helps organizations define objectives and track their progress towards them. This framework is designed to help organizations set far-reaching goals in days rather than months. OKR stands for Key Goal and Outcome, which is a framework that helps you define objectives and track your progress towards them. With Weekdone's OKR software, you can easily set up connections between company and team objectives and complete them with key results that indicate whether you've achieved your goals.
Everyone on the team knows exactly how their key results contribute to the company's goal, making it easy for that key outcome to stay in mind during the OKR quarter. Keeping group goals within a short and strict time frame encourages concentration and allows you to review them in cycles. Individual and team OKRs express what tactics teams and individuals will implement and what results they will need to achieve to help the organization achieve its long-term objectives. The group's key results should reflect a big change, something that, if you reach 70-80% of your goal, the rest of your organization will notice. Weekdone is your solution for generating status reports, aligning team OKRs with company level objectives, and viewing your weekly and quarterly progress.
You can think of “objectives” as what you want to achieve and “key results” as how you are going to achieve that goal. At the start of a quarter, you will not only assess the possibility of achieving your goal measured by key results, but you will also plan your OKRs. The OKR can be seen as an extension of the MBO with a focus on measuring the results of objectives using key results. OKRs are designed for teams and organizations to facilitate growth, improvement and alignment, while MBO (Management by Objectives) helps you track employee performance. Progress on Key Results should be monitored and discussed weekly to ensure better prioritization of initiatives and continuous alignment within a team.
We recommend starting with an OKR workshop where all key stakeholders responsible for company strategy first ask and then gather employee input on what they think should be top priorities. Group objectives should always align with company objectives and support the ultimate goal of your organization. Regularly reviewing your key results will help you decide if your initiatives have delivered the desired results or not. This review process should be done on a weekly basis in order to ensure that all objectives are being met in a timely manner. Additionally, it is important to ensure that all key results are aligned with the overall company objectives so that everyone is working towards the same goal. OKRs provide an effective way for teams to set ambitious goals while still staying focused on their core mission.
By setting clear objectives and tracking progress towards them using key results, teams can stay motivated and aligned with their overall strategy. With Weekdone's OKR software, teams can easily set up connections between company and team objectives and complete them with key results that indicate whether they have achieved their goals.