Business Good experience Lifestyle

The Top 3 Benefits of OKRs That Entrepreneurs Sometimes Overlook!

Written by Jimmy Rustling

If you’re not using OKRs in your business, you need to ask yourself why successful multinational companies such as Netflix, Google, Adobe— to name a few are using them.

OKR stands for Objectives and Key Results, a way to structure your business’s goal setting and quantify achievement. Intel might have pioneered the use of OKRs but they really came to the fore in 2014 when Google provided insights into their internal work processes.

The premise of OKR is that every employee has a clear plan to see how their output impacts the overall company strategy. But why are OKRs so important for business and should you implement OKRs in your own venture?

Below is a detailed look at the top 3 benefits of OKRs that most entrepreneurs often overlook.

1. OKRs Promote Goal Awareness Throughout the Company

When implemented correctly, the OKR system can go a long way in aligning your company’s goals and focus while keeping each team member on the same page.

OKRs ensure that everyone understands set objectives and the measurable key results at every point of the business’s workflow. This transparency means that everyone in the company is has aligned interests.

The OKRs strategy is especially important for larger organizations where day-to-day communication between different teams is harder to maintain.

2. OKRs Encourage Accountability in a Company

OKRs provide every team member with a common basis for accountability, regardless of their work emphasis.

All tasks done by each department, from customer support to engineering, have well-stated and measurable goals that are visible within the department and the rest of the company as well. And since everyone’s responsibilities have to align with overall company goals, they are also accountable for any issues.

3. OKRs Foster Commitment in the Business

Entrepreneurs often fail to appreciate the significance of OKRs when it comes to promoting commitment in the company. Commitments are like targets that your employees agree to work towards, and timelines as well as resources are then tweaked to help the employees deliver.

With OKRs, keeping tabs on these commitments is accomplished in a transparent manner. That means every team member has to signal the rest of the team so that they know that they are striving to achieve the set-out goals.

You share progress and ensure that employees stay aligned and on course with their commitments using a specialized OKR app or any other tool. As long as everyone understands what they are working to accomplish, your company is set to realize the overall outcomes.

Want to Enjoy the Benefits of OKRs? Adopt this Strategy for More Efficient Goal Setting and Tracking

Considering the three benefits above, it is easy to see why they are too good for your business to ignore. So, effective goal setting and monitoring are worth a shot. Besides, your employees just might fall in love with this new approach to enhancing business efficiency.

Even so, keep in mind that OKRs need to be adopted effectively from the get-go if you want to achieve the best possible results.

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About the author

Jimmy Rustling

Born at an early age, Jimmy Rustling has found solace and comfort knowing that his humble actions have made this multiverse a better place for every man, woman and child ever known to exist. Dr. Jimmy Rustling has won many awards for excellence in writing including fourteen Peabody awards and a handful of Pulitzer Prizes. When Jimmies are not being Rustled the kind Dr. enjoys being an amazing husband to his beautiful, soulmate; Anastasia, a Russian mail order bride of almost 2 months. Dr. Rustling also spends 12-15 hours each day teaching their adopted 8-year-old Syrian refugee daughter how to read and write.