Objective and Key Results (OKR)
In terms of HRM, objectives and Key Results refer to the structured framework which sets and setting and tracking the HRM goals. These goals are generally aligned with the objectives of the organisation. Better use of objectives and Key Results helps in controlling and managing the overall outcome, resulting in higher productivity.
Objectives
Objectives refer to the brief statement that states what a company will need to accomplish a specific goal. These objectives basically inspire and challenge the HRM department of a company.
Key Results
Key Results refer to the qualitative metrics, which help in tracking the process toward a specific objective. It helps in assuring that the management is working according to the objective or not.
Benefits of Objective and Key Results
Focusing: Helps in prioritising the initiatives of HR activities and ensures better focus
Clarity: With better management objectives and Key Results, the HRM can get clear about the practices and their expected results
Accountability: Assures accountability of the actions and practices of HRM. By establishing measurable outcomes, Objective and Key Results ensure better management.
Alignment: ensures that HRM goals are strategically alignment with organisational objectives, resulting in a smooth workflow. Regular Growth: Objective and Key Results enables an encouraging culture in the company, which leads to continuous improvement.
