Objective Key Results (OKR) is a collaborative goal-setting methodology used by teams and individuals to set ambitious and challenging goals with measurable results. It is a simple tool for creating alignment and engagement around measurable goals, helping to track progress, create alignment, and encourage participation. OKRs comprise an objective (a significant, concrete and clearly defined objective) and 3 to 5 key outcomes (measurable success criteria used to track the achievement of that goal).The acronym OKR stands for Objectives and Key Results, a popular objective management framework that helps companies implement and execute strategies. Group objectives should always align with company objectives and support the ultimate goal of your organization.
Along with the objectives and their key results, employees should consider recurring activities that will help them get closer to accomplishments. The objective defines what the employee wants to achieve and the key results describe how the employee will achieve the goal within a specific time frame. Key Results (KR) quantify the objective of the OKR and break it down into specific metrics that can be used to measure the achievement of the 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. A well-implemented OKR provides a transparent and objective performance evaluation mechanism that allows for greater performance. For the most part, personal goals and team goals are linked to company objectives to ensure that employees are aligned with corporate priorities.
Progress on Key Results should be monitored and discussed weekly to ensure better prioritization of initiatives and continuous alignment within a team. Aligning their daily tasks with the team's objectives helps everyone understand their team's quarterly approach and how it meets the company's vision. As a beginner, you may struggle to write down your thoughts as clearly defined goals and key outcomes. However, with practice, you can learn how to use OKRs effectively in order to improve business performance.