Objectives and Key Results (OKR) is a goal-setting methodology that helps organisations establish and execute strategy. This framework works by focusing employees and their efforts on accomplishing common goals.
Benefits of OKR include
- a better focus on results that matter,
- increased transparency, and
- better (strategic) alignment.
An OKR is made up of
- The Objective informs you where you want to go,
- Key Results. which are the outcomes you need to get to your objective, and
- Initiatives, which are all the projects and tasks that will help you achieve your Key Results.
The framework includes a set of guidelines that employees can use to prioritise, align, and track the results of their activities. OKR assists organisations in bridging the gap between strategy and execution, allowing them to shift from an output-based to an outcome-based work style.
If your organization is a car, the Objective is your destination, the Key Results show if you’re heading in the right direction, and the Initiatives are what you’ll do to get your car moving.
Atlassian offers the following check-list for setting OKRs:
- Put the customer first
- Don’t skimp on ambition
- Tie OKRs to larger company goals
- Just enough Os and KRs is enough
- If you can’t measure it, it’s not a good KR
- KRs are outcomes — not tasks
- Assign KR owners
Read more about preparing for OKRs and finding the right cadence at Perdoo