{"id":7448,"date":"2021-04-13T09:25:41","date_gmt":"2021-04-13T09:25:41","guid":{"rendered":"https:\/\/www.synergita.com\/blog\/?p=7448"},"modified":"2021-04-13T09:25:41","modified_gmt":"2021-04-13T09:25:41","slug":"how-to-configure-okr-for-your-business","status":"publish","type":"post","link":"https:\/\/newtest.synergita.com\/blog\/how-to-configure-okr-for-your-business\/","title":{"rendered":"How to Configure OKR for Your Business?"},"content":{"rendered":"\n
<\/div>\n\n\n\n

Objectives and Key Results (OKR) <\/a>is an efficacious goal-setting methodology that enables the management to make data-driven informed decisions and also can bring huge results\u00a0to the organization, if leveraged and implemented perfectly. Of course, perfection is a myth but near perfection is not. To attain that particular level, a company has to experiment with the framework.<\/p>\n\n\n\n

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Before getting deep into the concept, you have to answer the\u00a0question, \u201cDo you really need OKRs for your company?\u201d If you answer yes after reading this blog,\u00a0then go ahead with the process.<\/p>\n\n\n\n

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How to Set Objectives\u00a0and Key Results?<\/strong><\/h2>\n\n\n\n
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Objectives are what you really want to achieve. For example, if your company wants to increase the customer retention rate from 80% to 95%, then that is your objective for the year or quarter. That is where the OKR in business comes into the picture. You can also repeat the objectives in the following years but remember that you should show some progress every year. If there is no progress, you are doing something wrong; It could be the result of ineffective key results. It becomes very important to deeply delve into what is OKR in business.<\/p>\n\n\n\n

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The objectives should not be some random desire of one superior in your company. They have to align with the company\u2019s vision and mission\u00a0and take one step\u00a0forward\u00a0toward \u2018how do you see your company in 10 years?\u2019\u00a0Be specific with your objective, and\u00a0the reason for choosing that goal for your quarter\/year.<\/p>\n\n\n\n

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Key Results are your little baby steps toward achieving your goal. The key results should be clear,\u00a0numerically\u00a0defined, and accountable.\u00a0For instance, to increase the customer retention rate from 80% to 95%, you can set the key results,\u00a0<\/p>\n\n\n\n

<\/div>\n\n\n\n
    \n
  1. Create 2 whitepapers and 2 eBooks to provide solutions to the customers in your niche by the first month of the quarter and record the response. <\/li>\n<\/ol>\n\n\n\n
      \n
    1. Make a call to every customer in the first week of May to inquire about their well-being and concerns regarding the product. The issues are to be resolved within two days and get feedback. <\/li>\n<\/ol>\n\n\n\n
        \n
      1. With the available customer feedback, analyze the data and gather information about the hard-to-use parts of the product and the suggestions made. If that aligns with your company policy, make the changes in the product and send a mail to the customers by June 30, 2021.   <\/li>\n<\/ol>\n\n\n\n

        The above sentences are easy to understand and specific. You can also use trendy words in your key results to grab the attention of\u00a0millennial\u00a0employees. Every company should have a tailored process of setting OKR in business. This is\u00a0one way to do it.\u00a0\u00a0<\/p>\n\n\n\n

        How to Implement OKRs?<\/strong>\u00a0<\/h2>\n\n\n\n
        <\/div>\n\n\n\n

        In this current scenario, OKRs are much needed, and how to implement OKR in business.<\/a> If the employees know their direction, no matter where they work from, they will keep moving forward, and that is the sole purpose of OKR \u2018to keep you moving forward.\u2019 Besides, OKRs keep the employees engaged as the team members know what is expected out of them and they will invest more in the work as they are held accountable for the work. Accountability shows employees that the management trusts them and would like to see more of their commitment.\u00a0\u00a0<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        Cascading the Goals.\u00a0<\/strong>When the organization decides on a goal after weeks of contemplation, the cascading process should begin. The department heads should be called for a meeting,\u00a0and the\u00a0OKRs should be explained to them.\u00a0The department heads should set Objectives and Key Results (OKR) for the department and check if it is in line with the overall business objective.\u00a0<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        Then, the department heads should conduct a meeting with the team managers, who, in turn, set the goals for the teams taking the inputs of the team members, the\u00a0frontliners\u00a0of an organization. The team members know more about the demands of the market as they work in the field directly. Therefore, involving them in big conversations can really produce the needed results.\u00a0<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        \u00a0<\/p>\n\n\n\n

        Regular Meetings.\u00a0<\/strong>Managers should allow the individuals to set the goals for themselves as the employees know their\u00a0schedules and capabilities better. Later, the managers can suggest changes, if required, to\u00a0maintain the alignment to the business objective.\u00a0Besides, the managers should conduct regular team meetings or one-on-one meetings to discuss the progress and concerns\u00a0of the team members\u00a0regarding the\u00a0goal.\u00a0<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        Effective communication is the key to make Objectives and Key Results (OKR) a great success<\/a>. Transparency is also equally important to steer clear of redundancy and also to help one another\u00a0with their available resources.\u00a0Adopting OKR software\u00a0with\u00a0a\u00a0powerful dashboard\u00a0to get more actionable insights\u00a0can further fuel the progress and increase the success rate of the organization.\u00a0<\/p>\n\n\n\n

        <\/div>\n\n\n\n
        \"\"<\/figure>\n\n\n\n

        Benefits of Objectives and Key Results (OKR)<\/strong> <\/h2>\n\n\n\n
        \"\"<\/figure>\n\n\n\n

        Pitfalls to Avoid While Setting Objectives and Key Results (OKR)<\/a><\/strong>\u00a0<\/h2>\n\n\n\n
        \"\"<\/figure>\n\n\n\n

        What do Great Leaders, <\/strong>who<\/strong> have Used Objective and Key Results (OKR) Say?<\/strong> <\/h2>\n\n\n\n

        \u201cOKRs have helped lead us to 10x growth, many times over. They\u2019ve helped make our crazily bold mission of \u201corganizing the world\u2019s information\u201d perhaps even achievable. They\u2019ve kept me and the rest of the company on time and on track when it mattered the most. And I wanted to make sure people heard that.\u201d <\/p>\n\n\n\n

        \t\t\t\t\t– Larry Page, co-founder, Google in Measure What Matters<\/em>   <\/p>\n\n\n\n

        \u201cPeople can\u2019t connect with what they cannot see; networks cannot blossom in silos. By definition, OKRs are open and visible to all parts of an organization, to each level of every department. As a result, companies that stick with them become more coherent.\u201d <\/p>\n\n\n\n

        \t\t\t\t\t\t\t\t– John Doerr, Measure What Matters<\/em> <\/p>\n\n\n\n

        \u201cGoogle stands for speed. The company has waged a constant battle against latency, the delay in\u00a0a data transfer that degrades the user experience. In 2008, Larry and Sergey wrote a beautiful\u00a0OKR that truly captured people\u2019s attention: \u201cWe should make the web as fast as flipping through a\u00a0magazine.\u201d It inspired the whole company to think harder about how we could make things better\u00a0and faster.\u00a0<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        For the Chrome project, we created a sub-OKR to turbocharge JavaScript. The goal was to\u00a0make applications on the web work as smoothly as downloads on a desktop. We set a moonshot\u00a0goal of 10x improvement and named the project \u201cV8,\u201d after the high-performance car engine. We\u00a0were fortunate to find a Danish programmer named Lars Bak, who\u2019d built virtual machines for Sun\u00a0Microsystems and held more than a dozen patents.\u00a0\u00a0<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        Lars is one of the great artists in his field. He came to us and said, without an ounce of bravado, \u201cI can do something that is much, much faster.\u201d Within four months, he had JavaScript running ten times as fast as it ran on Firefox. Within two years, it was more than twenty times faster\u2014incredible progress. (Sometimes a stretch goal is not as wildly aspirational as it may seem. As Lars later told Steven Levy in In the Plex, \u201cWe sort of underestimated what we could do.\u201d)\u201d <\/p>\n\n\n\n

        \t\t\t\t\t\t– Sundar Pichai, CEO, Google in Measure What Matters<\/em> <\/p>\n","protected":false},"excerpt":{"rendered":"

        Objectives and Key Results (OKR) is an efficacious goal-setting methodology that enables the management to make data-driven informed decisions and…<\/p>\n","protected":false},"author":29,"featured_media":7456,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[325,306,305],"ppma_author":[28],"yoast_head":"\nHow to configure OKR for your business?<\/title>\n<meta name=\"description\" content=\"Objectives and Key Results (OKR) is an efficacious goal-setting methodology that enables the management to make data-driven informed decisions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newtest.synergita.com\/blog\/how-to-configure-okr-for-your-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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