The Role of OKR in Company Growth
Company growth is the main goal of all companies. It is vital that you know how your company is going to expand and become an industry leader. It is important for you to ensure that those working for you are happy. You need to realize that company workers are the key drivers to your company success. Your organization can only realize company goals if employees are willing to work towards them. Employee empowerment is, therefore, one of the essential aspects you have to dwell on for you to ensure the success of your company. Your company can also improve performance if you can be able to come up with realistic strategies and objectives for the company.
You also have to remember that enhancing the performance of your company may not be an easy thing. You are supposed to make sure you understand how you are going to become an industry leader and maintain the position. You are supposed to come up with a business framework that helps your company employees and teams attain their objectives. There are various frameworks to use. You should be aware of the fact that a balanced score card framework ensures that you can be able to effectively get a balance between lagging and leading performance indicators. The other way to ensure your company grows is through the use of KPIs which are vital because they are quantifiable measurements which will evaluate the long term performance of your company. You can also ensure the success of your company using objectives and key results performance indicator. Below are essential aspects of objectives and key results performance indicator.
OKRs ensures that a company sets up objectives and finds and an ideal way to achieve them. Andy Grove from Intel used the OKR concept at Intel for the first time. Big organizations that use OKR concept in their operations are Twitter, Netflix, Dropbox, Google, LinkedIn, Facebook, Uber, among others.
Any company can integrate OKRs performance framework in their system. Setting up OKRs is not a hard thing to do. You are supposed to start by coming up with realistic objectives which your employees and other company teams will use to operate. It also wise for you to make sure that there is a clear path to be followed to attain the set objectives. The objectives set should be challenging. It is not necessary for your company to attain the objectives but they should be close. The numeric measurement of your objectives is vital and you can do this through key results. The quantifiable measurement can be done using dollar amounts, scales, percentages, among others. OKR performance framework is vital since it motivates employees to try out difficult tasks without fear of failing.