Every small business owner wants to find the secret ingredient that will make their company shine. For many, using OKRs leads to huge success. If you’re not using OKR software with your team yet, here’s why you should be.
OKRs Are Effective
OKR stands for Objectives and Key Results. If you’re never heard of this simple strategy, get ready to learn something you’ll use for the rest of your life. The idea is very simple—you create objectives, or goals, for your company and then outline how you will measure and achieve each goal.
The key results must be numerical so you can get an exact measure of how well you met each goal. For example, if your objective was to grow your customer base, your key result might be to put 50 new customers in your system each month.
At the end of the month, you evaluate how well you met your objectives. Goal setting should be ambitious, so it’s okay if you don’t hit each key result out of the park. If at the end of the month you only put 10 new customers in your system, you still accomplished measurable success.
Creating a strategic plan is more effective than just telling your team members that you want the company to grow. You need specific actions to take and ways to review how well you’ve done. Every small business can benefit from these best practices.
The Software is Easy to Use
A majority of a small business’s budget goes to technology, and of that budget, 26% is allocated to productivity software. When you’re spending your hard-earned money on a product for the company, you want to make sure it’s worth it. The best OKR software is well worth the cost. With this software, each team can set its own goal and you can see how each objective aligns with your own. This gives you a great idea of the company’s trajectory and how everyone is working towards success.
You’ll have the power to create and assign objectives to the entire business, a specific team, or even a certain person. The software integrates with your favorite apps so accomplishing your goals is easier than ever. If you want your objectives and key results to make a huge difference for your company, you need easy-to-use software. With the right tools, you’ll see your business grow in real-time.
OKRs Increase Productivity and Employee Engagement
The more productive your team members are, the more successful your company will be. With OKRs, you can increase productivity by providing employees with specific goals to meet. Strategic objectives lead to continuous development. There’s always something new to be doing and a new objective to be striving for. Your team members will always know what they’re working towards and your performance reviews will help each employee understand what they’re doing right and what could use improvement. Your specific feedback boosts productivity and engagement, and you’re able to provide that feedback because you understand what each person is working towards.
Employees are also more engaged when they understand exactly what they’re meant to be doing. They can see each step clearly and they know what they’re trying to accomplish. Evaluating your progress with the entire organization will give each team member motivation to continue moving forward.
Another added benefit of OKRs is that you will have numerical evidence of how your business is growing and improving. The next time you need banking services from your local credit union in Rockford, MI, you’ll be able to show proof of your success.
OKRs are simple but extremely effective. Start using OKR software with your team and you’ll see a huge change.