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With the holidays quickly approaching, it’s a good time to check in on those resolutions you made at the beginning of the year. Did you meet them? What did you struggle with? Think of your team’s resolutions for this year. Did you achieve desired results from your efforts? Which specific initiatives were effective? Which were not? Reviewing your overall performance is important when gauging what you’ve accomplished throughout the year.
However it’s just as important to look forward as it is to look back. The last few weeks of the year are ideal for goal setting.
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.”
Key Performance Indicators (KPIs) are defined as performance metrics that evaluate the success of an organization or of a particular activity. KPIs can apply to projects, programs, products, and a variety of other initiatives. They can measure the success of anything from sales goals to social media metrics.
Objectives and Key Results (OKRs) are defined as a metric that outlines company and team “objectives” along with the measurable “key results” that define the achievement of each objective. OKRs represent aggressive goals and define the measurable steps you’ll take towards achieving those goals. They’re typically used to set quarterly goals, but can also be used for annual planning. The rising popularity of OKRs is mainly attributed to Intel and Google, who have adopted this technique for their planning.
Regardless of which technique you choose, the bottom line is: the only way to improve is to measure and review performance. If you don’t take the time to set objectives, or you’re setting them but not reviewing them at the end of the year/quarter, you miss a prime opportunity to learn and improve. Remember, you can actually learn from failures and successes, so make it a top priority to implement performance metrics. You may be surprised how quickly you and your team reach them.
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