Our Managing Director, Nicola O'Neill, provides her insights into the growing use of OKR's as a methodology for objective setting
At the beginning of a new year, most companies have already or are now focusing on cascading the company strategy throughout the company. This is usually done by collaborating and communicating how the team and individuals will be contributing to the achievement of the strategy through goal setting.
OKRs were first developed and implemented by Andrew Grove, President at Intel, in an introduction to “High Output Management” and was popularised by John Doerr from 2014 onwards.
What are OKRS?
“A management methodology that helps to ensure that the company focuses eﬀorts on the same important issues throughout the organisation.”
- John Doerr “Measure What Matters” 2018
Best practice and implementing OKRs
- 3 objectives at any time - List three objectives that you want to strive for at each level
- 3 key results per objective - For each objective, list 3-4 key result areas to be achieved
- Set quarterly and review monthly or weekly
- Public: In front of all employee, communicate objectives and key results to everyone, update results on a scale of 0 - 100%
- 70%-80% sweet spot to achieve the results - when objective results reach 70-80% it is considered done, as it is assumed there is a stretch built in
Author: Claire Melady-Bell
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