How do you set the objectives in your company? Do you use any special methodology? Does this help you get the results you are looking for? With these triggering questions we want to introduce an extremely important topic, and go a little further. We will see what OKRs are , the novel methodology that was born in Intel and all companies want to incorporate today. Commitment to goals has been shown to improve team performance. . But more specifically, setting challenging goals can increase the impact and involvement of individual members in projects. What are OKRs? OKR ( from English: Objectives Key Results ) is a system of objectives created by Andrew Grove, former CEO of Intel, focused on simplifying the way to address the main objectives of a company . Since its creation, and thanks to the successful results it has had within the company, it Kuwait Phone Number List has been incorporated by large companies such as Google, Airbnb, Spotify and Twitter. It is about the evolution of the best known SMART objectives, KPIs, Management by objectives, and so on. The OKR in its structure are very simple. They are nothing more than a set of objectives linked to measurable key results , which will be scored and updated accordingly each quarter. For your individual productivity, that of your team and also that of your company, it is an incredibly beneficial execution framework. But also of a challenging implementation. Using the OKR methodology in your projects will help reduce the frustration of the people involved in achieving the objectives and increase clarity, focus and participation . In the next few lines we will tell you what the main axes of this methodology are and how to incorporate it to get the most out of your efforts and those of your team.
Who is the OKR methodology for? The great thing about this system is that it can be applied by large companies with hundreds of teams and employees, as well as by individuals, startups, small companies and entrepreneurs . OKR does not require a large support structure, but rather a commitment to achieve the proposed goals. You should be using this system of defining objectives and key results if: You and your team are drowned in a sea of metrics that no one looks at anymore, or that they spend too much time analyzing. You have a hard time deciding what are the metrics that will define the growth of your company, area or team. By the time the quarter is over, you haven’t reached your goal and you don’t know where to start to find out what happened. You have tried other lens systems and they have been too complex to apply in practice. You don’t have a goal system. andrew-grove-okr Before you start using OKR, it is important that you have a clear understanding of the challenge of your project. That is, to understand perfectly where you want to go and what are the alternatives to achieve it.
In the famed business book High Output Management , Andy Grove himself says that there are two questions that must be answered to successfully create a system of shared goals, such as OKRs: Where I want to go? This answer provides the goal. How will I know if I am getting there? This answer provides the milestones or key results. These will be the questions that will guide us to success. If we are able to generate an action plan that expresses where we want to be and we are simple enough to keep the Kuwait Phone List entire team aligned, then we will achieve even more than what we set out to do. OKRs are generally created on an annual and quarterly basis . On the one hand, the company’s objectives are executed in annual cycles and their preparation coincides with the strategic review at the end of each year. On the other hand, the OKRs for each team and / or department follow a quarterly line.
This allows for shorter review cycles and facilitates changes in direction or optimization tasks, if the tactics are not driving the team towards the OKRs. The basic structure of OKRs OKRs consist of a list of objectives aligned with the mission and vision of the company. Under each objective there should be measurable key results. Each key result can be measured with a score of 0-100% compliance. The structure of OKR is very simple and consists of three axes on which we must work: Objectives : It is the description of a goal to be achieved in the future. It should be directional, aligned, have a strong impact on the organization, and be inspirational. Key Results : It is a metric with an initial value and a target value, which measures the progress towards said objective. It must be ambitious, measurable and specific. Initiatives : It is the description of the tasks to be carried out to influence the key result. Describe what we will do to achieve the objectives.