Somehow you should be able to define what to do and where you want to end up. Goal setting is core to any business. There are multiple goal setting frameworks, such as:
DevConcrete’s goal management framework of choice is OKRs. It is very well balanced and uniquely combines abstract ambitious goals with clearly defined results that should be reached to reach the goals themselves.
However, only a fraction of companies actually have made it work for them. Usually, teams and employees set OKRs, but don’t treat them as commitments, don’t review them on a regular basis, don’t achieve the desired goals at all.
Let’s discuss the best practices for implementing OKRs framework.
In OKR framework there are 2 major entities:
Usually, you have 3-5 Key results per 1 Objective.
2. OKRs levels
OKRs work the best when implemented throughout all levels of organization: Company, Team and Personal OKRs.
All OKRs should be hierarchically tied together, so when a particular employee reaches their own OKRs, it helps to achieve the company’s OKRs.
Team and Personal OKRs should be both top-down and bottom-up. It means teams and people should be involved into setting their own OKRs. It will raise employees` engagement and commitment to the common vision.
Do not commit to a dozen of Objectives on any level. Start with 3-5 and see how it goes.
Get a buy-in from people. It’s critical. If employees actively participate in OKRs setting, they will commit to reaching out those goals much more eagerly. Golden rule here – let people define half of the Team and Personal OKRs.
Reviewing the progress in achieving Key Results is vital. If you just set OKRs without checking them on a regular basis – it would be a complete waste of time. The best cadence for OKRs review is:
VUCA environment is everywhere, you should be ready for it and you should be comfortable with changing your OKRs. If you encounter a black swan or other circumstances that significantly change the environment – adapt your OKRs.
If you don’t update your OKRs, you may blindly following the goals that have very little relation to success.