Corvisio OKR Software helps you to align your company with your vision and mission
Objectives and key results, OKRs, is a management methodology used by large companies ranging from Google, Intel to the small startups. It helps you to macro manage your organization rather than micromanage, ensuring organization-wide awareness of your vision and mission. OKR Software improves overall productivity and employee loyalty. You can use free OKR Software module of Corvisio for your teams or your company or startup. Measure what matters. Contact us for more details.
OKR software is a simple tool to align and engage the employees and managers around common and measurable goals.
OKRs in a nutshell:
- OKRs are simple and flexible
- Objectives should be ambitious and feel somewhat uncomfortable
- Key results are concrete, measurable and should be easy to grade with a number ( it may be a percentage, 0 to 1.0 or binary)
- OKRs should be public so that everyone in the company can see what others are doing
- The best range for an OKR grade is 65% – 70%; if you constantly achieve 100% of your objective, your OKRs aren’t ambitious and stretch enough and you need to aim higher
- OKRs should not be used as employee evaluations
- OKRs are not a common to-do list
- Avoid a set it and forget it mindset
With OKR Software, the teams’ objectives and key results are visible to the other employees. Thus, creating transparent knowledge of what others are working on. This way everyone in the company can align their work and track the progress of others.
As you communicate all the progress, if one part of the company diverges from the common goals of the company, it can be quickly noticed and fixed.
OKR was introduced by the Silicon Valley companies. The first adopter was Google. They started to use OKR approach when they only had 40 employees. Google still uses it to achieve its stretch goals and today they have more than 60,000 employees. They are followed by other now giant enterprises like Twitter, Spotify and LinkedIn.
But OKR is not only for digital companies and enterprises. OKR creates the path to success as much for startups and small businesses as it does now for the enterprises.
Many companies accomplished results that seemed impossible before. OKRs enable the teams to aim for ambitious goals, help them to get out of their comfort zone and prioritize their work.
Creating stretch goals is the crucial part. It is so important that Google’s Ten things we know to be true states them directly:
Stretch goals should:
Stretch goals make the team reevaluate the way they work, and achieve the greatest results possible. After using stretch goals, even though you may not be able to reach the goals, you will be able to reach further. Now, you will reach goals that you couldn’t reach before.
When used this way, OKRs can facilitate for the teams to focus on the bigger bets and achieve more than the team thought was possible, even if they don’t fully attain the stated goal.
The most distinct feature of OKR compared to traditional systems?
Objectives and Key results are frequently set. Most commonly, objectives are set quarterly. And, teams update their progress weekly. In this way, you can follow the whole process.
And, you can track your results and check how close you are to achieve the desired results.
So, OKR creates an agility that is not achievable with traditional methods.
Additionally, transparency and simplicity is another feature that sets OKR apart from the traditional ways as KPI.
Most Common OKR Mistakes and How to Avoid Them
Implementing Corvisio OKR Software for your business is a good step to manage your business wisely. However, you need to be careful about making the most common OKR mistakes. Here we listed them for you and gave some tips to avoid those mistakes.
Distracting Yourself from the Main Goals by Setting Too Many OKRs
Confusing the Key Results with Objectives
Setting the Metrics Wrong
Misalignment of the Organisation
Set It and Forget It