We have talked about different tools and techniques for individual goal setting for 2020 but what about teams, groups and organisations? I like OKR (Objectives and Key Results) and I think its particularly suited to the volatile and uncertain world we are in, where we need to be agile within our teams and organisations and require tools to support this.
There are many tools we have used ourselves and with clients in the past – OGSM (Objective, Goals, Strategies and Measures), MBO (Management By Objectives), KPI (Key Performance Indicator), Balanced Scorecards etc. However OKR is simple and can be used to communicate a strategy in an actionable and measurable way as well as helping teams align and be clear about what needs to be done in order to progress.
Developed from the Management by Objectives approach by Andy Grove and further refined and taken to Google by John Doerr, it is an outcome based approach to work rather than an output measured approach.
The recommended cycle is to have a yearly view of OKR for the organisation and for groups and teams a quarterly view. The benefits of OKR are it provides focus, transparency and improves alignment. So what is it?
Step 1. Identify Objective
Step 2. For each Objective identify up to 5 Key Results
Step 3. Identify and Initiatives which will deliver the Key Results.
You measure the outcome of the Objective through the key results. These are the signposts of progress towards delivering the outcome.
Initiatives are the activities and projects which lead to the delivery of the key results.
We find it’s a useful tool with our 5 Dynamics of High Performing Teams in clarifying and gaining focus on the outcomes of the “5 Big Whats”.
If you would like to know more about this approach, have a look at John Doerr’s book “Measure What Matters: OKR’s The Simple Idea That Drives 10X Growth” or contact us to find out more about how we work with teams to achieve – and maintain – high performance.