Hybrid companies integrate the best of both worlds: the flexibility and agility of a startup with the structure, resources and support of an established organization.
While this can offer tremendous potential to businesses, it also presents challenges for managing remote and in-office professionals.
Utilising OKRs (Objectives and Key Results) is one way to set clear goals, track progress, and empower teams in hybrid companies.
OKR consultants like There Be Giants can provide strategies for creating objectives and key results that are tailored to the needs of a particular business.
Why Hybrid Companies Need to Adopt Strategies From OKR Consultants
OKR strategies provide a way of setting objectives across remote and office-based teams. These strategies help organizations become more agile, efficient, and effective.
Let’s look at some advantages hybrid companies can get when they use OKRs.
1. Better collaboration in distributed teams
OKR strategies enable collaboration between remote and office-based team members. By using the same goal-setting, tracking, and measurement system, OKRs help creates a shared language across the business, enabling everyone to focus on core objectives.
This helps to create transparency in teams, as they provide visibility into the different tasks and projects being worked on across individual teams, departments, and divisions.
At the same time, it makes teams stay aligned with the organization’s vision and mission.
2. Gaining better visibility into operations
OKRs provide real-time updates on how various teams and departments are performing. This helps hybrid companies gain a better understanding of their operations, enabling them to identify areas for improvement and adjust their strategies accordingly.
With OKR consultants guiding the way, hybrid companies can set up dashboards that provide real-time performance metrics, helping them stay on top of their operations.
It’s also important to note that OKRs can help companies gain more control over their growth.
By using objectives and key results, teams can set realistic targets for each quarter and measure progress toward those goals. This helps ensure that the organization is on track to achieve its long-term objectives.
3. Nurture a culture of accountability
The easiness of tracking progress and measurable success of OKRs helps hybrid companies foster a culture of accountability. By setting objectives and tracking progress, everyone in the organization will be held accountable for their performance.
OKR consultants also help teams understand how their work contributes to the overall vision of the company, as each team member can see how individual goals contribute to achieving the organization’s mission.
This can help hybrid companies create a sense of ownership and pride within each employee, as they become invested in the organization’s success.
4. Increase employees’ engagement and motivation
Remote workforces often feel disconnected from the organization and its goals. OKR strategies help to bridge this gap by providing visualizations of progress and results, helping employees stay connected to the team’s vision.
Having clear objectives and measurable success also helps increase motivation among the workforce, as it gives them something to strive for.
Don’t forget to appreciate successes, too. Celebrating successes helps create a positive work environment.
Common Challenges
Although OKR strategies offer a host of advantages for hybrid companies, there are some common challenges that need to be addressed.
As with any new system, there is likely to be some resistance from employees who may not want to adopt the OKR methodology. It’s important for hybrid companies to address this resistance head-on by providing proper training and setting clear expectations.
Hybrid companies need to be aware of the possibility of setting too many goals. Not every task needs an objective; otherwise, teams can end up wasting time and energy on tasks that don’t directly contribute to achieving the organization’s objectives.
Finally, it’s important for hybrid companies to ensure that their strategy is tailored for remote workforces. A lack of face-to-face contact can lead to communication issues, so it’s important to ensure that there are systems in place to easily share updates, seek advice, and provide feedback.
Conclusion
The changing nature of work has created a need for hybrid companies to adopt more efficient and effective ways to manage their remote teams. OKRs provide an ideal solution for this purpose, as they enable companies to set clear objectives and provide guidance for their remote team.
OKRs also ensure that everyone is working towards achieving common goals. Through careful implementation of OKRs, hybrid companies can create a culture of collaboration thanks to OKR consultants and accountability that will help them succeed in an ever-changing workplace.