OKRs and EOS are both project management tools. However, while one is generic, the other focuses on entrepreneurs. Nevertheless, the full scope and use of both concepts can transform just about any business. You’ll hit your mark in no time!
Objectives and Key Results (OKRs) are a management tool that takes the objectives of the project & the possible results of those objectives into consideration.
What is EOS?
EOS is short for Entrepreneurial Operating System. HR tools are designed with simple concepts and practical tools. EOS is a Lean strategy focused on singling out the target to ensure that time is used productively & work goes smoothly.
EOS is made up of:
- EOS model: EOS is designed on six principles that will help entrepreneurs build their businesses. These principles are vision, people, data, issues, process, and traction.
- EOS process: using the EOS model, the EOS process enables entrepreneurs to combine the right tools for maximum impact.
- EOS toolbox: this is the set of tools necessary for achieving the vision and traction principles in the EOS model. There are about five tools. That is the vision/traction organizer, an accountability chart, “Rocks” (this is a specific set of goals, targeted for each quarter), a scorecard, and meeting pulse.
Difference between OKRs and EOS
Ideologically, there isn’t much difference between both concepts. However, they differ in their operations. There are three significant differences between OKRs and EOS.
The audience: OKRs cuts across all platforms, industries, organizations, and so on. OKRs can even be used in achieving personal goals. It is a general concept that aims to accomplish goals and targets. On the other hand, EOS concentrates on businesses and entrepreneurs. It is not as encompassing as OKRs, however, OKRs can be inculcated in EOS for improved productivity.
The approach: EOS is a complete business operating system. That is to say that EOS is a complete package of business process tools such as the L10 meetings, which are weekly meetings of company leaders, to tackle outstanding problems; the “implementers”, which is a team of EOS experts and so on. The EOS approach focuses on the process rather than on the people.
OKRs are not designed to function in this way. OKRs focus on the people and the individuals in establishments and how they can reach their goals. OKRs aim to help keep people focused on achieving results.
The time frame: both project management tools are all time conscious. However, the timeframe differs in terms of flexibility. With OKRs, you can choose to set objectives for the most convenient time frame, from weekly, monthly, quarterly, or even annually. This is not what is obtainable with EOS. The process in EOS has a defined time frame of quarterly and annually. Then there’s a fixed ten-year target.
How Can They be Used Together?
“An effective goal-setting system starts with disciplined thinking at the top, with leaders who invest the time and energy to choose what counts” John Doerr.
It is a fact that both OKRs and EOS are goal-oriented and time-bound. That means they both have the same framework, asking the questions:
- What: that is the target. The goal of any organization.
- How: that is the plan. How the organization will actualize their goal.
- When: that is the timeframe. Weekly, monthly, quarterly, and yearly.
This feature alone is enough for both to be leveraged for greater productivity.
OKRs is a generic concept. As long as goal-getting is concerned, OKRs can help you stay focused. The concept of OKRs can be merged in the EOS process, for example, the EOS “Rocks” is a concept that defines three to seven most important objectives for quarterly focus. OKRs can be used here. OKRs’ five to seven objectives and five possible, time-bound results can be brought into play in the Rock concept.
These systems of goal setting have been used by top companies such as Facebook, Avea solutions (a behavioural health billing company in Beaverton), Siroop and so on. These companies have recorded amazing results!
According to the CEO of Avea solutions, the employees suffered from a lack of motivation as a result of the cumbersome workload but he was able to get everyone excited about work when he applied the traction method of the EOS. The employees’ productivity improved when they got a clear outline of what each employee should be doing in the traction meetings.
The introduction of OKRs in EOS helps teams gain alignment with the vision of the company which ultimately improves output. It also helps in the process of evaluation at the end of the fiscal year.