KPIs vs SMART Goals vs OKRs

[Music]ever wondered about the differencebetween kpi's smart goals and okay ourshow about when and how you should usethem as well as the common mistakes toavoid I'm Gemma and here's a video aboutkpi's versus smart goals vs. okay Ozlet's start with kpi's KPI stands forkey performance indicator KPIs are themetrics that correlate strongly withperformance you use them to identify howto improve performance they should alignwith your strategic pillars and willallow you to track your goalsa common mistake you need to avoid isusing metrics that are accessible asopposed to being the right metrics totrack right and easily accessible areoften not the same thing you also needto ensure that you do not have too manyKPIsas too many can result in a loss offocus what are the KPIs that reallymatter in your organization some of theKPIs you come up with will be leadingindicators these are the metrics thatlook forward and can predict futureperformance customer satisfaction canpredict revenue for example and somewill be flagging indicators these arethe metrics that look back and tell youwhat has already happened like revenueand retention to influence them you needto improve leading indicators andthere's a time lag before improvementhappens of course some KPIs can be bothleading and lagging for example beingable to recruit the best talent could beconsidered a lagging indicator as theorganization needs to be healthy toattract the best people hiring the besttalent is also a predictor of futureperformance for measuring performancethrough KPIs and identifying ways toimproveboth types of indicators are importantif you don't currently have the kpi'syou need you're going to need to workout how to get them and keep themupdated then you're going to need to geta baseline to be able to set a targetvalue if you're lacking inspirationZachary has a library of KPIs for usingKPI dashboards and okrs or you cancreate your own ok ours ok R stands forobjectives and key results ok ours arethe goal-setting framework that wasoriginally adopted by Intel then Googlewhen Google was small it's now one ofthe most popular ways to set goals forall sizes of organizations most peoplehave used SMART goals well ok ours arelike SMART goals just wear the littlemore goal-setting best practice guidancebuilt in the extra guidance includesgrouping one to four key results thatare measuring what mattersoften KPIs to give a more completepicture of what success looks likehorizontally aligning and cascading okours using hierarchical relationships toimprove alignment and deliberatelysetting hard targets because easy toachieve goals have zero net benefit andstretch goals help teams innovate theway you achieve your ok ours is bydefining and completing initiativesinitiatives might include one-offprojects or frequently run projects likemarketing campaigns and developmentepics they could also be a task where okours have fixed period end dates likeyearly and quarterly initiatives haveflexible end dates and their ownprogress measurementsokay ours and initiatives are part ofthe same framework and need each otherin order to succeed this is wise of Creeconnects initiatives to project softwarelike Trello asana and JIRA in Zacharycandidate initiative ideas can be putforward for consideration with the bestones being progressed deciding whichinitiatives to prioritize and resourceare obviously key decisions in achievingyour goals never set and forget KPIs orokrssetting and forgetting KPIs or okay ourswill result in average performance thisis why checking in okay ours with yourKPI is embedded and initiative statusesprogress and confidence in addition toflagging what's holding you back onwhat's going well is so important checkin and review meetings should happenweekly this keeps everyone focused andconnected reduces friction andfrustration and keeps you agile thisrequires you to schedule theseactivities and follow an agenda andworkflow like the ones in Zachary goodluck