What Are OKRs?

Objectives and Key Results (OKRs) have become increasingly popular in the corporate world over the past decade. This method of goal setting and grading progress helps organizations achieve their strategic objectives and specific performance goals. Generally, OKR usage starts with setting measurable key results using aspirational objectives. This framework sets companies up to become more transparent and accountable while encouraging collaboration and alignment within the organization. In other words, OKRs help organizations make sure their objectives are reached, and that everyone is doing their part.

The Origins of OKRs

OKRs were initially developed by individuals such as Andy Grove, the CEO of Intel in the 1970s and 80s, and venture capitalist John Doerr. Andy Grove is well known for using OKRs as part of his management strategy, and it was he who popularized the concept. John Doerr then spread the word to Silicon Valley CEOs and Fortune 500 companies, leading to its widespread adoption.

Benefits of OKRs

OKRs maximize alignment, communication, motivation and focus within corporations. These benefits are due to everyone having a shared understanding of the company’s vision and initiatives, which helps to keep the whole organization on the same page and encourages collaboration. Additionally, it promotes accountability, as OKRs can easily show which employees are lagging behind and which are performing well. In addition, OKRs also let companies monitor their progress and track their results more easily.

Overall, OKRs are a useful tool for many businesses and are becoming increasingly popular. The framework can help organizations set SMART goals which can easily be reached and tracked, thus improving the overall performance and alignment of the company. It’s no wonder why many large companies, including the likes of Google, Microsoft and Amazon are beginning to take advantage of the benefits of OKRs.