5 Essential Steps to Unlocking Success with OKRs

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Ever feel like your team is working hard but not necessarily in the same direction? That’s where Objectives and Key Results (OKRs) come in.

OKRs are a simple yet powerful goal-setting framework that keeps everyone aligned and focused on measurable success.

Originally developed by Intel’s legendary CEO Andy Grove, OKRs were later popularised by Google, which publicly credited them for the firm’s extraordinary success.

Today, OKRs are adopted by companies across many sectors, including banking, insurance and the public sector. They help teams stay in sync and work toward clear, ambitious goals.

What Are OKRs?

OKRs are essentially a goal-setting system. They track progress effectively and help teams stay aligned on the same page.

At their core, OKRs have two key components. First, they involve setting objectives for the future. These can be the big-picture goals of a company, department or employee. Key results refer to measurable outcomes which indicate whether these objectives have been achieved.

The OKR framework helps organisations stay flexible and adapt quickly by breaking big goals into smaller objectives for teams and individuals. Regular check-ins and open progress tracking ensure everyone is accountable and constantly improving.

Why are OKRs important?

OKRs help companies to create a culture of transparency, focus, and continuous improvement. They enable businesses to set clear goals, align their teams, prioritise tasks and measure progress.

Five key benefits of the OKR framework:

1. Focus

OKRs help teams prioritise what truly matters. The general rule is that companies should define no more than 3 to 5 OKRs per team or department, and less than 5 Key Results per Objective.

2. Alignment

Studies show that over 85 per cent of employees are unaware of their company’s goals. OKRs solve this, linking big-picture company goals to department and team objectives, ensuring everyone is aligned.

3. Commitment

OKRs inspire and motivate employees by setting clear goals to be achieved within a specified time frame.

4. Tracking

OKRs help measure and track key results. Teams can use tools to monitor their OKRs transparently, keeping everyone informed on progress. This also makes it easier for team members to offer help or share resources when needed.

5. Stretching

OKRs help create a high-per f ormance culture by pushing teams to achieve more than they thought possible. Goals should be ambitious, with 70 per cent of achievement seen as a ‘strong performance’.

How to Get Started

1. Define Your Objectives

These can be set at four different levels: company, department, team and individual. Ensure that these goals align with the company’s corporate priorities.

2. Set Measurable Key Results

Each objective should have at most 5 specific results that define success. These metrics must be quantifiable.

3. Share & Align

Ensure everyone understands their role in achieving these goals.

4. Track Progress

Hold regular check-ins to stay on course. Check-ins can be done at any frequency that works for your team. Generally, OKRs follow a quarterly cycle, so they should be updated or adjusted each quarter.