STELLAFAI EXPERT SERIES
What benefits can OKRs really bring to your organisation? 🤔
In today’s edition of the Stellafai Expert Series, we’re back in the world of OKRs. Are you curious about the benefits that OKRs can bring to your company? Look no further 👀 We’ve once again called on our industry experts who have witnessed firsthand the transformative power of OKRs, to let us know the top three benefits they’ve seen OKRs bring to organisations. A must-read for anyone seeking to leverage the power of OKRs for organisational success. 🎯
1. Forcing Conversation about Vision and Ensuring Clarity: One of the key benefits of implementing OKRs is that they demand a clear articulation of the organization’s vision and strategic goals. This helps in fostering productive conversations among the leadership about what truly matters to the organization, clarifying the direction of the organization, and ensuring that everyone understands and is aligned on these goals.
2. Increased Focus and Coordination: OKRs promote an enhanced sense of focus by encouraging teams to prioritize their work based on strategic objectives. This focus on what really matters to the organization, and the coordination that it brings about, can lead to improved efficiency and effectiveness in execution (and boost morale and engagement!)
3. Enhanced Ownership, Accountability and Transparency: OKRs can boost ownership and accountability within an organization. By clearly defining objectives and key results, everyone knows what they are responsible for and what success looks like. This enhances transparency, as progress towards OKRs can be tracked and shared, providing visibility into how individual and team efforts are contributing to organizational goals.
1. Clear focus — organisation understand what the biggest priorities are
2. Outcome based mindset — less senior folks getting involved in decision making and defining solutions
3. Speed to course correct — When something isn’t going to plan, the organisation can quickly identify new solutions to achieve the same outcomes
1) Focus
2) Transparency
3) Accountability
1. Better alignment from Org level long term goals, through to shorter team team goal & also the initiatives and work that teams are delivering against them. From a systems perspective, the more sure we are that we’re making the right bets in terms of delivery on initiative, the faster we will learn if they were right and more chance we have of achieving them.
2. More use of data across the business, and a better understanding of the metrics that matter and the proxy metrics that drive them. More teams in our business are using empirical data than before our journey with OKRs started.
3. More empowered teams. Different groups of people own different of OKRs at MOO, with the aim of more bottom up goal creation than top down. We’re seeing new pockets of people across the org working together to define the right inputs to influence and shape our strategic execute as the months go on, and our maturity with OKRs increases.
1. Increased transparency of your business processes
2. Improved tie-in of your activities to the results that they produce
3. Improved opportunities to make fact-based decisions
1. Clarity on North Star & Strategy
2. Clear short term quarterly targets which are doable and measurable
3. Engaged and motivated team contributing to OKR planning and execution
The best OKRs are ones that are impact oriented, allowing the execution team to flex and adapt the actual work that gets done to achieve that impact. In other words, the org is laser focused on that outcome, and feels highly motivated to pivot when needed to get there, instead of OKRs that are about launching a specific feature or product that may already be showing that it wont have the desired impact, but because it’s “the OKR” the team feels it must deliver on it (regardless of uncertain or proven lack of impact)
1. Clarity of strategy and quarterly priorities is perceived as something really valuable
2. Aligning cross-functionally based on the quarterly priorities is perceived as something really helpful and drives collaboration
3. Defining focus is perceived as a relief
1. Increased EBITDA / bottom line.
2. Increased innovation
3. Increased market share
Actually having conversations about business outcomes / objectives.
Those conversations happening at all levels
Empowering and engaging teams, creating focus on fewer levers, and making strategy decisions
1. Clear understanding of goals
2. Creating an opportunity to align
3. An opportunity to debate which goals are worth pursuing
