By 2025, Gen Zs & Ys will represent more than 75% of the global workforce. This would force the employers to craft experiences that go beyond engaging in building deeper connections. A survey conducted by Fitbots on ‘Making Performance Management Real’ reveals that 61% of Gen Y & Gen Z s would find Performance Management Exciting. Why so? Because Gen Y and Z believe their goals are defined better feedback is continuous.
These studies have started strengthening the case for companies to implement simple, intuitive, easy-to-use frameworks. One such being OKRs: Objectives and Key Result Areas. In case you are new to OKRs, read our earlier blog posts on OKRs and Implementing an OKR framework.
OKRs are garnering a roaring adoption from this neo workforce, across some of the best workplaces. The simplicity of setting clear, aspirational, flexible & easily measurable goals which creates a high impact. This is what sets OKRs apart from the traditional goal-setting process.
When organization goals cascade to each team member, they connect and align positively to the company’s mission. Every team member knows what they work on and how it contributes to the whole.
Rather than just focusing on achieving the goals, OKRs focuses on performance and development during the entire process. Feedback is more real-time, performance can be fine-tuned, development is continuous and more aligned to what needs to be achieved.
Setting long goals and measuring them with the right metrics, keeps them excited and motivates them to push the envelope.
Discussing key metrics with the team, brainstorming to choose the right objectives and key results helps them to own and be accountable for their objectives.
Having only 3–4 objectives makes it simpler, more streamlined, and easy to focus. This helps them set high standards, easily seek continuous feedback, and have regular developmental conversations with managers.
OKRs can be easily defined, tracked, shared using OKR Management tools. One can share goals, let team members view, comment, like, and even suggest improvements to each other on their OKRs.
“It’s not about working anymore; it’s about doing work I can be proud of” — Paul Walker.
If you have a multi-generational workforce and want to build a compelling OKR framework, Write to Fitbots to learn more about OKR implementation.