OKRs stand for Objectives and Key Results. If you break an OKR, it drills down to:
To explain that further, OKRs are an effective goal setting and leadership tool to communicate what you wish to achieve and what targets you must meet to accomplish the set objective. Leading organizations use OKRs to set ambitious, challenging goals with measurable results. They enable a team, company, or organization to think rigorously and hold themselves accountable to stretch, learn, innovate, and grow. Objectives and key results are how you track progress, create alignment, and boost engagement around measurable goals.
You should leverage OKRs in this “Novel Economy” as an organization. Your employees feel isolated in this new age of remote working, and as a leader, you understand that. You must keep them highly engaged and thus productive. OKRs could be a massive support if leveraged the right way. The agility, focus, and transparency of objectives and key results help leaders change goals with the changing business environment, communicate the shift in expectations to their employees, and bring out the best in them. Remember, it is now, more than ever, that you must correctly focus on outcomes. Have a measurable yet agile action plan. This can mean the difference between surviving the crisis or thriving on it and vanishing.