According to an employee job satisfaction and engagement report by the Society for Human Resource Management (SHRM), the job satisfaction rate has increased from 81% in 2013 to 88% in 2016. There are various factors contributing to the increase such as the economy, changing mindset of employers, improving the work environment, increasing the pay and benefits, etc. When the job satisfaction rate increases, employee performance also improves.

The benefits of Improved job satisfaction rate,

1. Increase in productivity

2. Skyrocketing performance

3. Engaged employees

4. Happy customers – good customer retention rate

5. Higher revenue

6. Decrease in employee turnover rate

When it comes to brainstorming ideas on augmenting the employee engagement rate, there used to be a time, where HR thought only about pay and other monetary benefits. But today, the workforce mindset is changing due to the influx of millennials and Gen Z. Therefore, the management of large businesses, also the small businesses after a while, started exploring and implementing new processes to create a robust goal-setting process and a powerful performance management system.

Processes such as continuous check-ins, OKRs, 360 degree feedback, rewards and recognition, and employee engagement surveys, when combined with the latest technology that leverages the power of Artificial Intelligence and machine learning, keep the employees engaged. One of the engaging characteristics of a performance management system/software is Objectives and Key Results.

But how can companies enhance the job satisfaction rate?

Objectives and Key Results (OKR) come in handy to help businesses improve their employee experience and productivity. Objectives are where you need to go, and Key Results are the footsteps that help you measure your progress toward the objectives.

The next question is, how can OKRs boost employee job satisfaction rate and performance?

These ten benefits mentioned in the image are what an employee looks for before joining a company or to stay for a long term.

Provides Clarity and Direction

OKR experts say that it is advisable to try out OKR for one team or department and then roll it out to the entire organization if that seems to work for you. While setting objectives and key results, managers should take the inputs of the employees and also give them autonomy in setting their own goals and key results. In that way, accountability can be embraced, and also employees know the management’s expectations better.

OKR through key results gives a clear direction to the employees like what are the steps to be followed or achieved to reach the destination.

Alignment is Perfect with OKRs

When the businesses set their objectives and key results, their respective business units, departments, teams, and individuals can set their OKRs in alignment with the overall business mission for the year. That is, they can refer and consider whether their goals would contribute to achieving the business objective that fiscal year or quarter. This approach promotes transparency and collaboration.

Managers and the leaders of the company can check the alignment during the approval process and guide the individuals or teams if there are any gaps in it. Thus, all the talents’ efforts are focused on one common shared goal.

Performance Management Becomes Easier with OKR Technology

Synergita OKR allows the users to set objectives and key results, and they can tag feedback and rewards against the goals to motivate and guide the employees. The powerful dashboard enhances the user experience by giving deep insights on employee performance, all at one stop. These reports help to conduct a fair and transparent performance appraisal process.

Say no to the recency effect, halo effect, or central tendency bias because all the proofs are maintained well with the help of technology. Your leaders and teams would start moving toward a positive nurturing culture.

Increased Efficiency and Engagement

Clarity, alignment, fair appraisal process, and involvement in the goal-setting process are promised with OKRs. Aren’t they enough to keep employees engaged? Because they are responsible for their KRs and that would eventually motivate them to perform better and work toward achieving the goals. As a result, the overall productivity and efficiency of the workforce would increase drastically.

The employees also receive continuous feedback and meet with the managers frequently for discussions; This would help the employees to grow in their professional life and also keep them engaged. With OKRs, the employee engagement rate increases, and the attrition rate decreases.

A Never-Losing Warrior in a Battle

The interesting and the most helpful part of OKR is that the companies can choose their own cadence of goal-setting. It could be monthly to quarterly but the management should be careful enough to not turn the goals into tasks. This freedom in choosing their cadence helps the organizations to be agile and adaptable during any kind of worst business storm or economic change.

The employees can immediately change their goals in alignment with the changed overall business objective for the quarter. That is how many companies including Synergita survived the impact of the pandemic and thrives even in these uncertain times.

Employees can rest assured and perform with the same or increased efficiency when they know their company’s growth is unaffected even during the tough times.

Stretch Goals Can be Made a Reality ASAP

OKRs are a special goal-setting framework because they push the entire organization in achieving even the stretch goals, which many companies give up on as they seem impossible to them. Sundar Pichai had the same OKR of making chrome the number one browser for three years and achieved it.

If the teams take OKRs seriously instead of having them for namesake, the growth can even become 10x. These are not false hopes or promises because there are many in history that achieved the pinnacle with OKRs. Organizations should check the compatibility and then implement OKRs after customizing.

Thus, the numerous benefits of OKRs motivate the employees, when they clearly understand the whole process. Proper training should be given to the workforce on what OKRs are, why the company needs them, and how they benefit the company before adopting the mechanism.

Sign-up for Demo