By 2025, Gen Zs & Ys will represent more than 75% of the global workforce, forcing employers to craft experiences that go beyond engaging to building deeper connects. A survey conducted by Fitbots on ‘Making Performance Management Real’ reveals that 61% of Gen Y & Gen Z s would find Performance Management Exciting if their goals are defined better and feedback is continuous.
These studies have started strengthening the case for companies to implement simple, intuitive, easy to use frameworks like OKRs: Objectives and Key Result Areas. Incase you are new to OKRs, read our earlier blog posts on OKRs and Implementing an OKR framework.
Top 6 reasons for adopting OKRs
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 create high impact is what sets this system apart from the traditional goal setting process.
1) Alignment to Company Mission – When organisation goals cascade to each team member, they connect and align positively to the company’s mission, bottom up. Every team member knows what they work on and how it contributes to the whole.
2) They are Agile – Agile performance feedback focuses on performance & development during the entire process rather than just achieving the goals. Feedback is more real time, performance can be fine-tuned, development is continuous and more aligned to what needs to be achieved.
3) They are Ambitious– Setting stretch goals and measuring them with the right metrics, keeps them excited and motivates them to push the envelope.
4) They Own It – Discussing key metrics with the team, brainstorming to choose the right objectives and key results lets them own and be accountable for their objectives.
5) Simplicity – 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.
6) What’s more? Go Social – 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 in to Fitbots to learn more about OKR implementation.