When we talk about OKR’s, the first thing that comes to our mind is whether all the top companies using OKR’s or not and if they are using it, what is the key reason behind using OKR’s.
So, before letting you know regarding what makes all the renowned companies use OKR’s. Let us tell you about some of the bigger companies that love to use OKR’s.
OKR’s are not only used by Google and LinkedIn. Many other successful organizations use this methodology listed below: Facebook
And a lot more
These organizations not only adopted OKR’s successfully but also modified them on the basis of their organizational needs to make the most out of this methodology.
Now, comes to the main point, why these companies use OKR’s instead of utilizing any other methodology.
1 - OKR’s Help Them Understand Their Prioritize
Prioritizing what is important and what is not is quite necessary. With OKR’s companies get rid of issues of what matters the most for them because all the day to day tasks that are extremely important for the growth of their organization are set-up according to the priority.
2 - OKR’s enable them to Track Their Daily Accomplishments
When business set attainable goals, then they don’t lack motivation because they know what they need to achieve to hit their targets. OKR’s provide them the right way to get in touch with what they achieve on every single day to understand if they are in the right direction or they need to make some adjustments.
3 - OKR’s Let Them Know What Everyone Is Doing
Sometimes, it’s quite hard for organizations to understand the contribution of each employee regarding the key goals of the business. Employees also, at times get confused with what their coworkers are doing.
To keep things simple, OKR’s provide organization, such an excellent framework, using which they can recognize the responsibilities of every individual working towards the company objectives. It enables colleagues to seek assistance from each other and remain on the same page so that they can attain all the company goals collectively.
4 - OKR’s Makes Complex Goals of Business Looks Easy
Before OKR’s framework, it was quite difficult for the business to deal with complex data and goals because letting the employees understand these things was not less than a challenge, even for the top companies, too.
OKR’s not only providing them with the best goal standardization technique but also give them the right platform to discuss how to get them.
5 - OKR’s help them to Increase Concentration
Companies can have multiple objectives. Working around all of them without thinking which objective is the most important for the growth of their company make things complicated. By using OKR’s, they can easily overcome this issue by putting all their focus at a specific task and get the best possible solution in a limited time.
6 - OKR’s Provide Opportunity to View Performance Quarterly
Some companies have a tradition of setting objectives for the entire year. The problem with this strategy is that you cannot clearly see if things are going according to the plan. But, with OKR’s, companies have the benefit of reviewing the performance of the objective once in a quarter or maybe monthly if they want.
7 - OKR’s enables them to Setup Quantitative Results
Before OKR’s, the frameworks that business use for setting objectives was only restricted to goal, not how to achieve these goals. But, with OKR’s, companies get rid of this issue successfully because it allows them to not only focus on setting the goals but also link quantitative results along with these goals that describe success.
8 - OKR’s encourage them to Set Striving Goals
OKR’s are not only designed to set safe goals and expecting 100% results from them. These frameworks are designed to set objectives that are ambitious and needs extraordinary efforts. The major benefit that business gets from this strategy is that everyone puts in more efforts, and if they even achieve 70% of these ambitious goals, they are on their way to success.
9 - OKR’s Bring Alignment between Management and Executives
After setting objectives, the next big thing is all about the execution of these objectives. For that, it is quite essential for the organizations to create a process that helps to align top-level management with executives because companies that have aligned employees perform much better as compared to those companies that lack it. OKR’s provide companies a perfect platform using which the process of alignment becomes quite stress-free.
10 - OKR’s helps them to Track Performance According to Defined Metrics
One of the major benefits that business can avail using OKR’s is that they cannot only track the performance with respect to the outcomes but also using the metrics that were set during the OKR’s creation process. It helps them to effortlessly recognize the difference between the results that they were expecting and the results that they achieve.
11 - OKR’s Make Companies Productivity Powerhouse
When the direction of the goals is not clear in any organization, employees normally get lost in the daily task. It makes them unproductive because they can’t meet the objectives set by the business. With OKR’s, that’s not the case, because all the goals that are essential for the productivity of the company are well-defined so that they can focus on the right areas and boost productivity.
12 - OKR’s help them to Overcome Communication Issues
Clear communication is important to avoid any sort of misunderstanding with the expectations of a business. OKR’s provide them an excellent goal-setting platform using which all the objectives all well-defined so that there will be no confusion regarding the business objective to the entire team.
So, you see how many benefits these companies are getting using OKR’s. If these giant companies are making use of OKR’s to drive success, then it’s time for your business as well to think about it so that you can also gain exponential benefits.