June 30, 2021
OKR Methodology for Enterprises: Going Bigger and Better
First introduced at Intel and now utilized by leading companies like Google, LinkedIn, and Facebook, OKRs have served as the perfect goal-setting tool for enterprises – big and small. In recent years, with hundreds of people employed at multiple remote locations, enterprises have realized the need to adopt OKR methodology to thrive to success. Have you thought about what is more important than simply focusing on the ‘objective’ and ‘key result’ bits? The actual value of the OKR Framework comes with the overall OKR journey. This include setting bold, ambitious goals and linking them with measurable results to unlock business success.
Critical areas for which enterprises adopt the OKR methodology are-
- Goal-setting: Employees plan their OKRs for the next quarter/cycle. They interact with their managers during one-on-one meetings to discuss the business strategy, what goals to prioritize, how to align with the defined goals, and how to link those goals with the desired outcomes.
- Performance management: Managers conduct data-driven check-ins to empower their teams and know how well they are doing, how they need to improve, and how to realign/update OKRs that unlock performance and take the business forward.
- Career development: Continuous learning and constructive feedback during quarterly or annually OKR cycles help employees upskill, innovate, and leverage new growth opportunities in their careers.
- Coaching: Enterprises also seek the help of an OKR Coach to get started with creating audacious goals, grading OKRs, and monitoring progress at the individual, team, and company levels.
Also Read: Unlock Benefits of OKR Framework for Large & Small Companies
Enterprise-level Challenges- Using OKRs to Avoid them
To focus on prioritized goals and set alignment between different teams, enterprises adopt the OKR methodology to improve their goal-setting process. There are two main challenges that enterprises may face while using OKRs. Let us see what those challenges are and how they can be avoided-
- Being inconsistent with setting and tracking goals can be a significant challenge for enterprises. So, using a robust OKR goal-setting framework can be an ideal solution. Managers must keep motivating their teams to set ambitious goals at the very beginning of the cadence. They should also keep track of individual performance and realign/refresh OKRs as per the changing company’s priorities to ensure consistent performance improvement. As a solution, enterprises can also hire an OKR Coach to help create structured goals, review progress at regular intervals, and ultimately drive business success.
- Few enterprises cascade OKRs from top-level management to managers and individuals so that everyone moves in the same direction. But cascading OKRs may be inflexible as any change in business vision or priorities may be difficult to implement across the whole organization. So, it is helpful to align OKRs both top-down and bottom-up to help with focusing on what’s most important goals and driving innovation to attain success.
Also Read: OKR Methodology for Remote Workforce: How is it Important?
Large enterprises can address the above-discussed challenges with an easy-to-use, intuitive, and powerful goal-setting framework like Unlock:OKR. Want to transform your business and strive for operational excellence? Then, Book a Demo with us and get started today!