Drive High Employee Performance with OKRs
This empowers strategic alignment, focused execution and engaged employees to achieve organizational goals.
Drive Key outcomes with an OKR Performance Management System.
Prioritize Objectives. Track Key Results.
Align Teams, Stretch For Excellence
OKRs have helped lead us to 10X growth, many times over.
~ Larry Page, Co-founder, Google
OKR is a goal management framework adopted by companies as a collaborative goal-setting tool. With an OKR Software, cascading goals are kept transparent and set the work cadence for the organization.
Make goals agile, dynamic and drive performance management with OKR Software that bridges the gap between strategy and execution.
OKRs - The Framework
OKR or Objective and Key Results, is a popular leadership technique that helps organizations set, communicate, and track their goals.
“OKRs are clear vessels for leaders’ priorities and insights.”~ John Doerr
It is a holistic approach towards management of goals and performance levels of employees at every level of the enterprise. It helps in creating better alignment and engagement around measurable goals, which are usually set every quarter.
OKR is composed of two components:
- Objective: which is qualitative and defines what one wants to achieve.
- Key results: which are quantitative and define how you will measure progress to achieve the objective.
Priorities, Transparency & Alignment
- Establish priorities
- Align individual employee goals with organizational goals
- Drive engagement through transparency & alignment
- On-board employee to organisational purpose
Agile Goals & Initiatives
- Adopt Cadence: Annual for Strategic, Quarterly for Tactical & Weekly for Operational outcomes
- Use SMART for clear and objective goals
- Define initiatives for each goal for focused execution
- Remove subjectivity and drive objective performance assessment
- Intuitive chat based conversations for coaching & timely course correction
- Review employee performance frequently
- Incident Management for critical inputs
- Check-ins for competency development
Achieve an NPS (out of 10) from our customers
Increase customer retention to from 70% to 98%
Take 2 new products to market
Raise 250 million in funding
OBJECTIVE: Raise 250 million in Funding
Identify possible sources of funding by Q1 and start initial discussions
Submit Information Memorandum and shortlist 5 possible parties Complete negotiations and raise funds
PossibleWorks' OKR Performance Management System
By clearing the line of sight to everyone’s objectives, OKRs expose redundant efforts and save time and money.~ John Doerr
Goal setting for Organizational Alignment
- Objectives & Key Results Framework
- Agile and Dynamic Goals periods with frequent reviews
- Transparent companywide visibility of cascaded objectives
- Tasks for early visibility of performance and success for each goal
Objective & Frequent Performance Reviews
- Real-time tracking for continuous assessment
- Monthly/Quarterly Reviews with interim milestones
- Facilitate quick and powerful conversations between Manager & Employee
- Encourage coaching & mentoring opportunities
- Periodic qualitative assessment on behaviors and competences
- Conduct Regular 1-on-1s
Focus on Initiatives to
- Initiatives are actions that help achieve the goals taken
- Initiatives provide an early visibility of performance and likelihood of success
- PossibleWorks uses Initiatives and milestones to forecast the possibility of success at each goal level and at an aggregate organization level
Benefits of adopting OKR Performance Management Platform
OKR Software, reminds the organization to better focus on goals and results that matter with an improved organizational alignment. While setting goals, companies can build agile teams with goal specific initiatives that are actionable.
“The platform has helped us build high-performance teams”~ HR Talent Management
- Focus on prioritizing organizational goals that matter today.
- Achieve organization wide alignment.
- Drive agility through shorter goal periodicity.
- Adopt data driven quantitative performance assessment.
- Provide big picture to employees.
The PossibleWorks Advantage
Highlights of Possible Works' Journey
Measure and Manage OKRs – FAQs
With OKRs each employee is aware of what needs to be accomplished every week/month/quarter. Keeping the final objective in mind, each employee is inspired to work towards it and plan the work accordingly.
With clear priorities set-up, each employee aligns well to the company purpose and is more engaged and feels that their contribution matters thus resulting in proactive action and productive employees.
OKR allows you to make data-driven and informed decisions as the results are measurable and can be tracked frequently. Such progress also triggers on-going conversations facilitating timely course corrections and realignment.
OKR helps the team to line-up their objectives in sync with the organizational objectives thus eventually helping them to be more focused, aligned, and organized to drive the organization forward.
As you begin setting up OKRs, start by defining 3-5 key business objectives that you want to achieve during a specified time period. The objectives should be specific, measurable, achievable, and time-bound. These objectives help in designing actionable SMART Goals that help the business achieve desired outcomes.
Specify 3-4 key results under each objective. Remember key results are the primary activities that need to be accomplished to attain an objective.
OKR framework allows identification and documentation of activities that employees need to take to accomplish on a weekly and monthly basis to stay in-line with the overall business objectives.
It’s best to view Key Results at the end of the month or a quarter, you can review the OKRs to see for yourself how much have you accomplished and what you can improve on.
Objectives are ideally set for a year and should be reviewed on a yearly basis. Key Results being monthly/quarterly in nature should be reviewed and updated appropriately. The advantage of setting shorter Key Results enable businesses to adjust quickly in line with business requirements.
Make sure you skim through the progress of OKR every week, so you do not forget an OKR that was setup. Creating a weekly ritual can help your team ensure you are on track.
Having too many OKR can cause chaos within the teams because the focus is diverted towards many different activities. So, it is mandatory to prioritize 3-4 primary OKR that needs to be accomplished within a quarter or a year.
Failing to keep the bigger picture in mind leads to improper utilization of the resources. It is essential to have clear communication with the team leads to the role they play in a larger scheme of things and eventually the employees will understand how their tasks help achieve the team goals.