OKRs are a type of goal setting technique that’s used to incite serious business growth. Here at TBG, we always advocate that OKRs should only be used for growth, change or innovation projects and not for business as usual activities. One common misconception is that OKRs can and should be used across every team and every function. However, this can be counterproductive and will put your team under a lot of stress.
In this article, we’re exploring the principles and techniques of goal setting and sharing some goal setting examples using OKRs. This will help you streamline your objective-setting process and see real results.
Understanding the principles and techniques of goal setting
Goals are the first step towards planning for the future, and play a fundamental role in the development of skills in various aspects of life, from work to relationships and everything in between.
The importance of goal setting cannot be overlooked; objective-setting has been shown to increase employee motivation and organisational commitment. Goals affect the intensity of our actions and our emotions – the more difficult and valued a goal is, the more intense our efforts will be in order to attain it, meaning the more success we experience following achievement.
Fueling organisational growth is what the OKR goal setting process is all about. OKRs shine a light on the priorities and activities that will enable growth. This is important to note, as some organisations try to create too many OKRs for every member of the team. Therefore, floodlighting rather than spotlighting on the key growth initiatives.
Whilst growth, change and innovation projects are exciting and lead to growth it’s important not to take your eye off the ball when it comes to business as usual activity. Your business as usual activity forms the solid foundation for OKRs to be effective.
We cannot stress the importance of goal setting enough; without clear goals, you’re essentially going to an undetermined location without a map. When we have something specific to work towards, and detailed steps to get there, we can be confident in the direction we’re heading and what we’re building.
Goal setting examples using OKRs
If you’re ready to use the OKR methodology, we’re going to share some examples of how you might write them.
Objective: Improve our marketing in Europe
- Key result 1: Acquire 100 MQLs from Europe in Q1
- Key result 2: Convert 10% of European MQLs to SQLs
Objective: Create an awesome user journey to increase the number of qualified leads.
- Key result 1: Respond to 85% of enquiries within 12hours.
- Key result 2: Reduce the number of fields on the sign-up and gated content forms to less than 5 in 90% of forms.
By using the OKR framework, you are creating: clarity, objective, and scale. By increasing clarity, the company is able to reach a position whereby everyone has a clear understanding of their objectives and how they’re progressing. In turn, this helps managers to have a better idea of where to coach and lead their team to perform. When done right, it should also increase satisfaction in your performance management process, as people have a clear picture of what they are working towards.
Staying on track to achieve your business goals
It’s important to note that just having goals isn’t the end – you also need to know how to stay on track to achieve them. This is where lots of people fall off the wagon with their goal-setting intentions – they’ve put the plans in place, but fail to monitor their outcomes or properly measure progress. It’s not enough to set OKRs, sit back and wait for your business to magically grow overnight. You’ll need to carry out regular check-ins as part of the OKR goal setting process to ensure that your business stays on track to achieving its goals.
That’s the beauty of OKRs – it provides your business with an adaptive, personalised goal-setting framework that moves with you over time, allowing you to track the outcomes as you go. You can also use OKR software to enable you to check in with your goals and monitor progress so that you can adapt your approach accordingly.
Get started with the OKR process
Our team has a deep understanding of the importance of implementing goal setting techniques and we’ve seen OKRs transform organisations in incredible ways. If you’re ready to take your small business to the next level with OKRs, book a call with a Giant today.