What is OKR methodology?
OKRs are a popular goal management framework that helps companies implement their business strategy for optimum results.
By organizing employees and their respective tasks into common achievable objectives, OKRs act as a bridge between employee
functioning and organizational goals. The OKRs allocated to each employee in the company are specific to his tasks,
are aligned with his role, and are in the direction of personal and organizational success.
It also has a high impact on both levels and is what drives the employee to be constantly motivated and ambitious.
Besides this, what really sets OKRs apart is its measurable aspect. By statistically tabulating an individual’s
contributions to the overall objective, this technique permits managers to compare OKRs of different employees for a promotion,
recognition, or salary hike. A one-of-a-kind method, OKRs are easily understandable and intricately complex at the same time.
The fact that it is time bound also teaches employees certain life-long soft and hard skills.
Of the components of OKR management, first comes the Objectives - which is a goal to be achieved in the future.
This is the individual’s target for the stipulated span of time. Setting a clear objective gives the employee concerned
some clarity on which direction he should tread to achieve the desired goals in the best, easiest and smoothest way possible.
The end objective is what motivates the employee to constantly do better and engage in healthy
competition with himself and others in the organization. In other words,
the objective of the business can be compared to the destination on a map.
Second is the Key Result in measuring employees’ performance.
On an average, 5 key results are chosen, which would holistically measure the employee’s progress towards the objective.
Key results are the deciding factors on where an employee stands in his endeavor to achieve the objective.
It is a metric with a start value and a target value that consistently measures his distance from the destination.
They are like signposts, which actually guide the employee how far he is on his route to excellence.
Apart from these two components, Initiatives also form a huge part of OKRs.
These are indicators that describe the work that is required to drive progress on the Key Results.
In other words, if an Objective is your destination and a Key Result shows the distance to go, an Initiative describes your mode of transport.
A combination of all three is what makes OKRs complete and helps achieve its goal of aligning, prioritizing,
and communicating the company strategy to employees in an actionable and