DENVER--(BUSINESS WIRE)--Quantive, the world’s leading strategy execution software and services company, today launched a new report on how top global organizations are using the Objectives and Key Results (OKR) methodology –– revealing key challenges, best practices, motivations, and the effectiveness of applying strategy execution and OKRs to businesses worldwide. The report was developed in partnership with OKRmentors, a global reference of OKR certifications and implementation.
The report, “The Global State of OKRs Trend Report 2023,” surveyed nearly 500 leaders from a variety of countries, industries and company sizes, and found that the use of OKRs is widespread across all of these audiences and that there is no one-size-fits-all approach to OKR implementation and application.
Other key findings include:
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The OKR methodology is still gaining traction and mastery among users, with more than half (52%) having been using OKRs for less than three years. Forty-six percent of organizations perceive themselves as performing below average in the execution of their OKRs. Of these respondents, many are either in the early stages of adopting OKRs or say they lack sufficient knowledge of OKRs.
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Organizations’ main motivations for implementing OKRs are improving alignment (61%), performance (61%) and prioritization (49%). Companies that implement well-executed OKRs are more likely to see enhanced strategic performance. Quantive’s report found organizations that possess extensive knowledge of OKRs see significantly better business outcomes across multiple performance indicators –– including execution, tracking and sharing progress, and alignment –– than companies with less understanding of OKRs.
- The vast majority of those surveyed (71%) believe their organization has yet to master OKRs. Primary roadblocks that organizations face in developing strong company-wide expertise in OKRs include frequent changes in strategy, which was cited as the No. 1 challenge by 25% of those surveyed. Two-thirds of respondents ranked lack of alignment or support of the business strategy as one of their top biggest challenges, and 60% said a disconnect between strategy and day-to-day operations is one of their top three challenges.
“Our inaugural Global State of OKRs Trend Report offers an illuminating look into how frequently and effectively –– and for what purposes –– business leaders worldwide are using OKRs, providing the first global window into the widespread use of OKRs in the market,” said Seth Elliott, Chief Operating Officer at Quantive. “In a rapidly changing business environment, establishing clear and transparent OKRs can play a pivotal role in the creation, implementation and execution of a company’s strategic vision. Our new report underscores the value of prioritizing effective communication and alignment among key stakeholders in order to mitigate challenges to executing, and ultimately realizing, that vision.”
The Global State of OKRs Trend Report 2023 also uncovered the best practices of “overachievers,” the survey respondents who reported being very experienced with OKRs. These leaders experienced significantly better strategic performance when compared with respondents who rated themselves in earlier stages of adopting OKRs. Best practices and important habits of overachievers include:
- Quarterly cycles for setting OKRs, as opposed to bi-annual or annual
- More frequent check-ins to discuss progress toward OKRs
- Robust OKRs training programs for team members
- Seamless integration of OKRs within existing company processes
- Use of specialized technology solutions for managing and tracking OKR progress, not just spreadsheets
- More team members involved with OKRs –– including the implementation of OKRs at the highest levels of an organization
“Across the board, we found that our group of ‘overachievers’ highlighted the value of investing in OKR implementation, bringing in expertise, and thinking critically on how to integrate it with existing ways of working,” said Elie Casamitjana, Founder & CEO of OKRmentors. “By identifying performance gaps within your own organization and learning from the overachievers and insights included in our report, global companies and their leaders can refine their approaches to strategy execution, alignment, agility, goal setting and achievement through the effective use of OKRs.”
To access and download the full report, including all data points and actionable insights from Casamitjana on how to unlock the full potential of OKRs within your organization, please visit: https://quantive.com/lp/the-global-state-of-okrs.
For more information on Quantive, please visit: https://quantive.com/. To learn more about OKRmentors, please visit: https://www.okrmentors.com/.
About Quantive
Quantive helps organizations create greater strategic agility and excel at execution. Based on the objectives and key results (OKR) methodology, our AI-powered solutions and world-class management consulting services enable our more than 2,000 customers to close the gap between strategy and execution and achieve their highest potential. For more information, visit www.quantive.com.
About OKRmentors
OKRmentors provides world class strategic execution expertise to help teams achieve their full potential. It is the global reference for OKR certifications, training, consulting, and coaching. Its global collective of 80+ strategic experts has helped hundreds of organizations and thousands of teams with strategic execution, transformation and acceleration of their businesses. For more information, visit www.okrmentors.com.
