January 19, 2021
Kickstart 2021 with Successful Execution of OKR Framework
Last year, organizations faced a lot of ambiguities due to the global crisis. 2021 is the year to analyze your long-term business goals. It is high time to implement the Objectives and Key Results (OKR) framework for effective goal setting and performance management. You must be wondering how 2021 will look like? There is no specific way to know, but what can you do is create a shared set of objectives and drive measurable outcomes that reflect a clear roadmap to the future.
Modern corporates are implementing the OKR framework to align a shared set of goals, focus on the priorities, and bring clarity amongst teams about the expected results. OKRs are effective when individual and team goals are aligned to organizational objectives. Whenever there is any change, organizations have the flexibility to refresh OKRs that can strive for them to grow and succeed. Let us see how to kickstart 2021 with the execution of the powerful OKR framework-
Planning OKRs for 2021
For organizations, whether large or small, prior planning before adopting OKRs for the new year is essential. Corporate leaders and executives discuss the long-term business goals and how to funnel them down to the teams and individuals. This is the best time to plan, set, and execute first quarter OKRs based on varied job roles and verticals. Before creating new goals, managers and leaders need to highlight the last year’s goals and outcomes. few questions to ask include-
- Which objectives are not relevant in the new year?
- What was the impact of the global crisis on employee performance and business growth?
- Were the OKRs effective enough to attain the expected results?
- Which objectives will be rolled over to the new year’s goals?
Creating Annual OKRs for 2021
Organizations define and set annual OKRs as the long-term objectives that align with the company’s vision and mission. Such OKRs indicate that in the new fiscal year, how everyone will move in the same direction towards meeting common goals and achieving the desired outcomes. Annual OKRs are realistic, ambitious, and time-bound, enabling organizations to improve business impact and growth.
By the end of the last year, organizations implementing the OKR framework must have defined annual goals for 2021. The aim is simple- aligning every individual against shared objectives, focusing on the priorities, and collaborating with different teams to drive business impact. For organizations adopting OKRs for the very first time, it is better to train them on the best practices to optimize the utilization of the OKR framework.
Aligning OKRs for First Quarter of 2021
During the first two weeks of 2021, managers and senior leadership must communicate the right set of goals and expected outcomes to their teams. The first quarter is an ideal time for the management to conduct weekly check-ins to discuss the OKRs of the new year, evaluate progress based on last year’s OKR scores, and guide on the areas of improvement. This cycle repeats every quarter, where managers discuss quarterly as well as annual goals, ensuring everyone is on the same page and stay competitive.
The OKR methodology was first introduced by John Doerr and is now adopted by several organizations around the globe. The successful implementation of the OKR framework drives employee collaboration through periodic review meetings, boosts performance through qualitative feedback, and drives the right behavior to succeed. If you want to successfully adopt, track, and execute OKRs in 2021, then Unlock:OKR is an ideal choice. The framework is designed to be powerfully simple, that unlocks performance through Alignment, Focus, Clarity, and Accountability. To know more about the features of Unlock:OKR, join our unique First Class Program and leverage its benefits.