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.

Determine your Vision and Mission

Determine or revise your vision and mission as a company. This is important because OKR Software work will be based on that.

Set your Company Objectives and Key Results

You can set your company OKRs with free OKR Software module of Corvisio on a quarterly or yearly basis. Objectives will be broad statements like "Being most customer centric company in our field" and Key Results are SMART (Specific, Measurable, Actionable, Relevant, Time Bound) metrics that will determine if you have achieved your broad-stated objective or not.

Let your departments and individuals set their own OKRs.

Once you have determined company-wide OKR Software settings, now it is departments' and individuals' turn to set their own OKR Software settings based on that information. By doing so, every single person in the organization understands and contributes to more important priorities of your company.

Track, Evaluate and Set new OKRs every month/quarter/year.

Once set, it is very important to follow up on progress made on OKRs at least once a month. You can evaluate overall performance of your Company OKRs quarterly and set new OKRs. Every year, it is a good practice to make at least one overall OKR evaluation company-wide and set new ones for the upcoming year.

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.

 

Stretch Goals

Creating stretch goals is the crucial part. It is so important that Google’s Ten things we know to be true states them directly:

We set ourselves goals we know we can’t reach yet, because we know that by stretching to meet them we can get further than we expected.

Stretch goals should:
Get you out of your comfort zone
Make you pursue results you couldn't dream before
Make you achieve things you couldn't do before
Be competitive but not discourage you

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
You can improve your productivity only by prioritizing your most important goals. Given that you have limited time and resources, you should focus on your most strategic objectives. “Business as usual” stuff like closing the quarterly books does not need to be in your OKR Software.

  • Confusing the Key Results with Objectives
Key results are what you achieved, not what you do. This matters because your achievements lead your growth. Instead of trying to measure your objectives by preparing a to-do list, you should focus on measuring the results that show your company’s success.

  • Setting the Metrics Wrong
Your metrics for evaluating the key results should be measured quantitatively. You should set numeric metrics and assess your results with your OKR Software.

  • Misalignment of the Organisation
After deciding on the OKRs, you should assign these OKRs to the team members by negotiating with them. It is essential to ensure that each member aligned with their specific OKRs and they fully understood them.

  • Set It and Forget It
The last, but definitely not least mistake is just setting the OKRs and not tracking them. Setting the time period wisely is important. We recommend a maximum one-month time period for evaluating your key results with your OKR Software.

Start OKR implementation. Measure what matters.