The benefits of the OKR framework are evident from the fact that companies such as Adobe, Google, and Netflix have all implemented them with great success. If you are new to OKRs, you might be wondering what makes OKRs so effective at creating and attaining the most audacious goals of teams and individuals. Why should you start implementing this framework? The answer is in the following 15 benefits of OKR.
Make sure employees are aligned with your organization's goals.
Ensure everyone in the team, and every individual has a clear vision
Increase productivity by focusing on objectives
Continually review your progress towards achieving your objectives.
Make more effective and informed decisions.
Make sure your organization's progress is measured, accounted for, and displayed transparently.
Obtain vision and insight through regular updates.
See how goal progress aligns with the company's vision, strategy, and top priorities
Be effective at setting clear and specific goals
Monitor and assess performance in a transparent and accountable manner
Motivate and empower individuals by setting clear and specific goals
Those at the top will be able to gain a better understanding of their company's operations.
Investigate the reasons why objectives aren't being met
Make improvements to the way resources are allocated and managed
Understand the interdependencies between different teams' functions.
The Bottom Line
Objectives and Key Results seem too good to be true when all the benefits above are considered. It's definitely worthwhile to try OKR style goal setting. Chances are your colleagues will love it.
Moreover, you'll also have to put a lot of effort into your team to adopt them effectively, as they're not that simple. Click here if you're interested in learning how to implement OKRs.