Regular strategic planning is a critical process for all businesses, regardless of size or industry. It’s an opportunity to step back and assess the current state of your company, set goals for the coming year, and develop a roadmap for achieving those goals. But can OKRs (objectives and key results) be used during the strategic planning process? The answer is yes – here’s how.
How to choose a strategic planning model
Every company is unique – so your objectives and direction will be different compared with your competitors and other businesses. This is something to think about when it comes to n choosing a model for the strategic planning process. There’s no such thing as ‘one size fits all’ when it comes to this.
Consider your business objectives and which models fit best. First, think about your why – why are you considering strategic planning and what do you want to get out of it? What goals could the strategic planning process help you to achieve? Do you currently use systems in your organisation? If yes, how would these work alongside a new planning system?
Speak to your team. Even the most basic strategic planning process won’t work well if it doesn’t align with your company culture. Your employees need to engage and get on board with any new model for strategic planning that you put in place. Think about your teams first and assess how any newly implemented methodology is motivational and productive.
If you’re feeling overwhelmed by the amount of information out there and could do with some professional help, ask the experts. By doing so you will waste less time and it will allow you to keep your focus on what’s needed the most.
At TBG we specialise in supporting the effective introduction of strategic planning and OKRs. We’ll outline the different stages in the strategic planning process and highlight the tools, including OKRs, that you can use to achieve your goals. Our aim is to help businesses flourish with firm yet flexible strategic planning structures that are designed to grow alongside them, offering no-nonsense yet friendly expert support at every step of the way. We’re firm believers that OKRs are a crucial, yet effective tool for the strategic planning process
Why use OKRs during the strategic planning process?
Aligning your team to company goals and allowing them to see how they can individually contribute, what they’re accountable for and how they’re part of the bigger picture often achieves more than goals themselves. Connecting your employees to a strategic plan helps to build culture, the kind of culture that fosters productivity and efficiency and with this comes improved productivity.
One way to achieve this is by using Objectives and Key Results (OKRs). The OKR process is one that’s already been implemented by many successful organisations seeking a fresh perspective on aligning the entire organisation with transparency to a company’s strategic plan.
OKRs must be used as part of a broader strategic process and must not be developed in isolation if they are to have genuine strategic value – otherwise, they become another tactical tool.
How are OKRs different from other strategic planning processes?
OKRs are regularly agreed upon, measured and evaluated, most often on a quarterly basis. The OKR approach is simple and can fully engage the creativity and productivity of each team. They also help with organisational alignment, by making sure every team and employee has set priorities, an energised pace, and a clear direction of travel.
OKRs are one of the most powerful goal-setting frameworks that can help your organisation execute your strategic plan in an inclusive, transparent and collaborative way.
How can we help?
We’re the experts when it comes to OKRs and strategic planning. Our team will help you implement OKRs in a way that will see your growth plans come to fruition. Ready to get started? Get in touch with a member of our team today!