Getting started with OKRs
Once a strategy is created, the executives can start defining their objectives which they will assign to their managers. The timeline of these top-layer objectives might be annual, quarterly, or monthly, depending on how the organization operates.
It is essential that the managers understand the objectives in a clear and comprehensive way since it is up to them to set and align their teams’ objectives with their own objectives. Only then could team members create their own objectives, for which they will be accountable.
Setting up OKRs and best practices
Setting objectives that motivate each team member and produce the right outcomes might be difficult. However, it can be as challenging for team members to identify goals that are measurable and in line with the organization’s broader strategy.
For this reason, weey provides an OKR library, divided into categories so that people with little or no experience with OKRs, can easily start any strategy
Creating your OKRs
When writing OKRs keeping in line with the below tips can be very helpful.
Keep things simple
Concentrate on objectives you can accomplish within the selected period. Prioritize your objectives according to what the organisation needs the most. Keep in mind that succeeding in any objective depends on the time and resources available.
Be precise
When creating your objectives, think of several different approaches to achieve the desired outcome. Build an action plan (set of individual tasks) to be more detailed on how to achieve the goal. Keep in mind that expectations will be clearer the more precise you are.
Cascade when you can
Team members frequently struggle to understand how their objectives contribute to the broad strategy of the organization. The solution is to cascade the objectives. Starting top to bottom, from the top management to the departments, and eventually to team members.
Measure everything
Key results have to be measured. It can be an increase of profit to X amount, a decrease of cost by X percentage or the number of people to be hired for the development of a new product. You have to be precise to prevent uncertainty of whether a goal has been achieved or not.
Moonshot or roofshot Objectives?
According to how familiar your team is with OKRs and what your organisation works on, at some point, you may need to choose between roofshot and moonshot objectives.
Moonshots are also called ambitious goals that go above and beyond what the management believes is achievable and are considered great if accomplished by up to a 70% rate. It is recommended to apply moonshot goals for personal objectives or new R&D initiatives.
Roofshot goals are the benchmarks that the team has to achieve at a 100% rate. They are excellent for crucial milestones such as increases in revenue or product launches.
Commit to success
All team members from top management to employees have to commit to succeeding in their OKRs. According to each Key result, they need to update the status on a weekly or monthly basis through “check-ins”.
The check-ins allow the whole organization to assess the progress of each objective on a regular basis. Therefore, it can be clear if the objective is on track or not.
The check-ins are utilised to promote OKR progress. Managers can evaluate completed tasks, the produced outcomes, the lessons learned, and verify that progress is being made.
Get started today
Make sure your team is on track to meet the Company’s goals with Weey.io
