At Atiim we often refer to Google’s monumental success with OKRs (Objectives and Key Results), as they were one of the first companies to use the goals management system, and certainly the first to do it so well. Now, they’ve released their own guide to setting goals using OKRs, complete with dos and don’ts, the history of OKRs, and strong research supporting the efficacy of OKRs.
We’re excited to be building a platform that supports this OKR strategy for companies, and we are inspired by Google’s ongoing OKR success as well as their more recent findings. Here are some of the points from Google’s new OKR guide that we found most interesting:
- Setting OKRs allows employees to work towards specific and ambitious goals, which, according to research, can also drive employee engagement (source: American Psychologist).
- OKRs work for companies big and small: Sears Holding Company rolled out OKRs to 20,000 associates and saw an 8.5% increase in hourly sales; meanwhile, the small IT team at McKinnon Secondary College in Australia reported that “the team is more productive, achieves more, learns from their mistakes, and produces better quality work,” all while “distinctly marching in the same direction.”
- Google exec Rick Klau recently declared that OKRs work “because they give your company superpowers.” He cited the Sears example, adding that their employees who were regularly using OKRs were 11.5% more likely to move up to a higher performance bracket than others.
Thus, the powers of OKRs are now supported by hard data which proves their value. Setting goals through OKRs improves performance, profit, employee engagement, and provides measurable data which you can use to facilitate even further progress.
To complement Google’s guide, we’ve composed a full transcript of Rick Klau’s video on OKRs, as well as our own Ultimate Guide to OKRs with additional information on how to best incorporate OKRs in your company.
Do you manage a company or teams (either as a CEO, a senior executive, a middle manager or even a front-line manager)? Do you set and track objectives? Does aligning employee performance to business goals matter, and are you responsible for driving results? If so, please check out a live demo of Atiim OKR & Goals Management Software and we’d love to hear what you think about it. Thank you!