KPIs or OKRs
Does your company work with both KPIs or OKRs? With the holidays quickly approaching, it’s a good time to check on those resolutions you made at the beginning of the year. Think of your team’s resolutions for this year. It is also important to look forward as it is to look back. The last few weeks of the year are ideal for goal setting.
Jargon and Acronyms
If you’re familiar with tech and marketing, you’ve likely heard the term “KPIs.” And if you’ve worked at a helpful little search engine organization called Google, you’re probably more familiar with “OKRs.”
If you’re familiar with neither, don’t panic. The tech world is filled with buzzy jargon and acronyms, and it can be hard to keep them all straight.
Objectives and key results (OKRs), is a goal-setting methodology that can help your team set and track measurable goals. Originally pioneered by John Doerr, this pairs the objectives you want to achieve with the key results you’ll use to measure progress. As a result, goals are tied to your team’s day-to-day work.
- The Objective – is the goal you want to achieve, to increase brand awareness, create the lowest carbon footprint in your industry, that sort of thing.
- The Key Result – is the metric by you will measure progress towards your objective. Like drive one million web visitors, to ensure one-quarter of your product’s material is compostable, and so on.
What is a KPI?
Key Performance Indicators (KPIs) are defined as performance metrics that evaluate the success of an organization or particular activity. KPIs can apply to projects, programs, products, and a variety of other initiatives.
If you regularly set team or company goals, you have probably heard the term OKRs. OKRs are objectives and key results. Even though most companies set goals, research has shown that only 26% of employees have a clear understanding of how their individual work would contribute toward company goals. That’s because most goals are set at the beginning of a year or quarter, then rarely revisited again.
Like any goal, OKRs should be measurable and obtainable. Think of OKRs as the pillar of your strategy. But to set good OKRs, you also need to connect them to day-to-day work. When employees have clarity on the relationship between their work and their company’s objectives, their motivation doubles.
By connecting each individual’s work to your organization’s goals, your employees have the context for why their work matters.
Cardinal Culture – Woman Owned
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