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What Is OKR?

Content provided by Scholarship Media.

If you're looking for a way to boost employee productivity, having the right methodology for working goes a long way. After all, productivity is psychological, requiring changes in behavior, but it also comes from your staff members knowing what is expected of them and feeling empowered to do their work. If you're in the market for a new way to set and achieve goals, using an OKR approach may be an excellent option. Here's everything you need to know about OKR.

What does OKR stand for?

OKR is an acronym that stands for "objectives and key results." Put in its simplest terms, the OKR philosophy is a series of guiding principles that help structure the way a business works and thinks about objectives and setting goals. This way of thinking was pioneered by Andy Grove during his time at Intel and was further popularized by investor and venture capitalist John Doerr. In its essence, OKR thinking requires that all businesses define key results in such a way that they are indisputable, and can be clearly answered as a yes or a no when it comes to achievement.

How does OKR boost my employees' productivity?

On a micro level, employing OKR software to run your business is beneficial to your team members in a variety of ways. For starters, when things are clearly able to be measured and goals are spelled out with desired key results, employee engagement goes up.

OKR is also helpful when it comes to performance reviews since it lets each employee fully understand what tasks and outcomes they'll be evaluated on. If you're looking for flexible employee performance management software that can increase productivity, it's hard to go wrong with OKR software. After all, when your team knows exactly what's expected of them, they're sure to meet goals much more easily.

How does OKR help my company?

When you start to use OKR software, employee engagement will increase which is beneficial in dozens of ways for your business. However, when it comes to managing your company on a macro level, aligning your organization with specific OKRs is also helpful.

The best OKR software handles these broader organizational goals as well as smaller, team-based OKRs with ease, letting management have a clear picture of how each department is working together to achieve each desired outcome. It's also worth noting that since your human resources team will be able to use your OKR software to help with performance reviews, you might be able to eliminate turnover by identifying high-performing staff members who are worth looking into for promotions or additional duties. All of this leads to a more productive, more engaged company that achieves its goals time and time again, reflecting on past successes to continue succeeding in the future.

As you can see, adopting an objective and key results strategy for your business is a great way to unite team members around different strategic objectives. OKR is perfect for startups and mid-sized or large businesses, helping your entire company increase productivity with measured goal setting and real-time updates. If you want a complete performance solution, it's hard to go wrong with Profit's OKR software. Their software has been heralded by CEOs and managers for its ease of use and is one of the best OKR software packages on the market.

With helpful features like task management and performance management, it's never been easier to prep for performance reviews and increases productivity and understanding around where your business is and where you want to go. Best of all, since Profit's solution drives employee participation, it's easy to get your team members on board, ultimately boosting efficacy due to high employee engagement.

Content provided by Scholarship Media.