What are OKRs? A question we love to answer!
Simple – Objectives and Key Results
Now you know the meaning of OKRs, you’re probably interested to learn what they do. The practices and principles of the OKR methodology provides an agile approach to managing and focusing on priorities in line with your business strategy.
OKRs where born in Silicon Valley, predominantly taking hold in the tech sector. Over recent years more and more industries and sectors have adopted OKRs and are seeing the power they can deliver.
They are generally implemented to help organisations focus on their growth priorities. Providing a stronger, shared and systematic focus on the priorities that will provide growth. This shared sense of purpose also means that employee engagement and motivation is improved.
Don’t forget to stretch
As we mentioned, OKRs are all about growth so it’s important to stretch. You’ll want your OKRs to challenge and stretch your teams to achieve greater things. But just a note on stretch, you’ll need to ensure you’re striking the right balance. If you stretch too far, your OKRs become unattainable.
What to focus on
OKRs are all about growth, not business as usual tasks. We encourage all our clients to set objectives that focus on key growth ambitions. Ultimately if your OKR isn’t focused on growth, then you need to be asking why is it a focus.
To how do you create a growth focused OKRs? We believe all OKRs should meet one of these challenges:
- To do something new
- To do something differently
- To do significantly more than has been done before
To do something new represents growth, and it is likely to lead to improved skill sets, capacity of capability which can help you to increase revenue and therefore grow.
To do something differently, means you are building and improving. As you build and try new things you are innovating, which is what we see as the lifeblood of most businesses.
Want to learn more?
Now you know what OKRs are, why not learn more with our great collection of tools and guides.