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Unless you’re a one-person company, you’re not going to implement the strategy (all by) yourself. You need resources to do so: capital and people. If you want your people to work towards the implementation of your strategy, you need to share that strategy with them and make sure they understand it. Therefore, your strategy needs to be clear and measurable, as well as easily accessible.
According to research by WillisTowersWatson, 90% of general employees and 40% of managers do not know or understand their organization’s strategy. Fix this, and you’re miles ahead of your competition.
In this article, I’ll explain how to make your strategy clear and measurable, and easily accessible.
Making your strategy clear and measurable
Too often strategies are vague and ambiguous. While it may be comforting to have a vague strategy (you cannot really fail that way), it simply doesn’t work. So if you really care about your strategy being delivered on time, your strategy needs to be crystal clear and measurable. That way, it’s easy to understand for the people responsible for implementing it: managers and general employees.
The solution here is simple: convert your strategy into Strategic OKRs. Strategic OKRs also enable you to track progress on the implementation of your strategy.
What are Strategic OKRs?
Your strategy is your long term plan for how to realize your mission & vision, so your Strategic OKRs are your long term OKRs that will help the organization move closer to its ultimate goal. As such, Strategic OKRs provide direction. They enable everyone across your organization to successfully identify what matters at any point in time.
By converting your strategy into Strategic OKRs, the Key Results force you to make your strategy specific. What does it mean to become a thought leader in your industry, to dominate a certain market, or to shift your focus from hardware to services? Which results do you need to accomplish to consider your strategies successfully implemented?
Time span of Strategic OKRs
Most strategies take several years to implement. To become a thought leader will probably take more than a year. To dominate a specific customer segment, to enter new markets or to shift your organization’s focus from hardware to services are all strategies that often require several years to fully implement. Strategic OKRs, therefore, usually use a 3-5 year cadence. Often, organizations also use an annual cadence for Strategic OKRs. These annual OKRs are breaking down the 3-5 year strategy into a specific focus for each year
Can my strategy really be converted into OKRs?
Yes. No matter how elaborate or complicated your strategy is in the background, you should articulate your strategy in the simplest and most focused way possible. And that’s what Strategic OKRs force you to do. Keep the document with all the details and rationale of your strategic choices, and attach it to your Strategic OKR in Perdoo for those employees who’d like more context.
Making your strategy easily accessible
Your strategy may change over time. New employees may have joined after you explained the strategy at an all-hands. And, in general, people need to be constantly reminded of the strategy—especially when they’re deciding what to focus on next. This is why you need to make your strategy easily accessible. With Perdoo, we make it really simple for you to do so.
The Perdoo Roadmap presents your strategy in a simple, intuitive way.
Because strategy is your long term plan for how to realize your mission & vision, we put that at the top of your roadmap.