March 14, 2022
Top 5 Myths Around OKRs and Realities
With the acronym OKR, objectives and key results have spread beyond Silicon Valley. The prevalent goal management framework has been attracting SMBs and enterprises across the globe to accelerate their business growth. Though we know that OKRs are the secret sauce behind Google’s exceptional success, they are a new kid on the block. Knowledge and cases surrounding objectives and key results are tiny. Besides, only a few companies have effectively implemented the OKR System. Naturally, some common myths scare organizations to adopt OKRs, failing to assess their contribution to their business productivity.
Read on to shun the top myths around OKRs and encounter the realities.
Myths on OKRs and Realities
OKRs are a Waste of Time
Many people opine that goal setting is a waste of time. Instead, they prefer to act. Organizations feel that OKRs consume enough time. As their projects act as goals, they don’t need separate organization-wide goal setting.
You can move beyond your objectives as you adopt and effectively implement OKRs in your organization. It is prudent to know where you want to go before beginning the journey. When your teams’ objectives and key results are defined and well-aligned to the organization’s objectives, teams accomplish them. Setting key results helps you comprehend how to measure your success in achieving your objectives.
OKRs are Only for Larger Companies
Google, LinkedIn, Intel – OKR is just for the large, mature tech companies. Do you know Google implemented the OKR method back when the company didn’t have over 40 people?
Right from startups to billion-dollar multinational corporations (MNCs), companies of all sizes have benefitted from objectives and key results. OKRs for business help leaders align their teams, hone collaboration, and create the right rhythm to accomplish improved business outcomes. Individuals can break the silos and comprehend how their contribution aids their organization to meet the broader goals and fulfill its vision.
OKR is an HR Tool
It is a widespread belief that OKR is a fancy HR tool that can drive employee engagement. Organizations use objectives and key results for annual employee performance reviews, which can be effectively done using KPIs. OKRs are thus just a waste to invest in and bring no value to the organization.
OKR is not an HR tool; it is a crucial tool for the Executive Leadership to strategize and accelerate business growth. While CEO and the leadership teams use OKRs to build overall business strategy, the following line of managers translates that organizational strategy into shorter team-level measurable, achievable goals. Talking about HR, they educate all employees on OKR software and effectively use the tool. OKRs thus play a powerful role in bringing organization-level visibility on performance.
Myth # 4
It is Better to Have More OKRs
Some managers push their employees to create multiple OKRs using the OKR system. They believe doing so will drastically improve their productivity.
On the contrary, too many OKRs confuse employees and affect their productivity due to overpressure of achieving key results to meet organizational objectives. Two OKRs aligned with company goals and two individual OKRs for personal development strike the right balance to optimize employee productivity.
Myth # 5
Each OKR Must Align to Organizational Goals
Aligning the company to the team to the individual OKRs should happen. Teams who have just begun to adopt the OKR methodology take the alignment factor of OKRs too strictly.
OKRs work effectively only when individual, and team OKRs can be well-aligned with the overall company’s goals. Never force alignment with a few teams, allowing individuals to personally identify objectives and key results and pursue them. Remember, such OKRs have nothing to do with your company’s vision and goals.
2. Right from startups to billion-dollar multinational corporations (MNCs), companies of all sizes have benefitted from objectives and key results.
3. OKR is not an HR tool; it is a crucial tool for the Executive Leadership to strategize and accelerate business growth.
4. Two OKRs aligned with company goals and two individual OKRs for personal development strike the right balance to optimize employee productivity.
5. Never force alignment with a few teams, allowing individuals to personally identify objectives and key results and pursue them.
Now that we have demystified the myths centered around OKRs learn how to write great OKR Examples with the help of our OKR Experts.