A critical part of an OKR implementation is ensuring that progress towards goals is kept up-to-date. People need to have a clear and real-time picture of what is happening in various parts of the organization so that relevant remedial actions may be made and appropriate decisions taken when goals become at risk of not being completed by their deadline.
A new industry-wide regulation will come into affect in September 2019, which will affect all European online businesses that accept credit cards.
When we collaborate across teams on projects there are many pitfalls and challenges that can result in failure. A study for the Harvard Business Review found that 75% of cross functional teams are dysfunctional. Problems can arise as a result of poor communication around specifications of a project and around the alignment of the company's corporate goals.
When we set objectives, we need to know what will define a successful outcome. It's obvious to us that an objective such as "increase sales" is meaningless without knowing how much we need to increase sales by in order to be able to say that we achieved the objective. This is why we associate a set of key results with each objective. Key results let us state the desired outcome in a quantitive way, e.g. "Increase sales of product A by $40k per month". Whilst it is sufficient to define the progress towards each key result as simply a confidence level of achieving the desired outcome, it is sometimes more convenient and more meaningful to state the exact quantitive value of whatever metric we are measuring.
Workteam OKR enables employees to align their goals with organizational objectives. Typically, organizations follow a quarterly rhythm of goal setting, where goals are published every 3 months and employees create a new set of goals to align with these goals, to the same rhythm.
Topics: Corporate alignment
With the introduction of GDPR just around the corner, we have included a few extra features in Workteam to help your organization's compliance with the new regulation.
Topics: Data protection
Companies devote endless time communicating strategy to their employees—but only a minority take it in, according to research by the University of Technology in Sydney. The researchers identified 20 companies with clearly articulated strategies and asked their employees to select their employer's strategy from six possible options. Just 29% of employees answered correctly.
The biggest shake up in personal data protection in 20 years will soon hit businesses in the EU. The fines for non-compliancy are greater than ever. Is your organization ready and prepared for the new legislation?
Topics: Employee Engagement
If you were to ask any CEO what their company's greatest asset is, you would undoubtedly hear them talk about their employees. Any leader worth their salt recognises that it is their employees that gives their company its competitive advantage. Maximising employee performance has to be top of the priorities for any organisation. But the needs and wants of today's workforce is changing rapidly and traditional HR practices are no longer a good fit for today's nimble and team-driven workforce.
A few years ago, I was working for a large company and we were in a very competitive tender situation. Despite having a great product there were some key modifications that we had promised to demonstrate to our prospective customer in early January and our plans showed that we'd finish in late December. Plenty of time, we thought. The reality of the situation was that it was going to be incredibly tight to get things done in time.