OKRs (Objectives and Key Results) are the backbone behind most of the world’s leading startups like Google and Intel. Having overall company objectives helps every department in a company to work towards them together. However, beyond setting goals and to-do lists, the human factor is also important in every company because they may also face challenges and modifications along the way that can’t be numerically quantified.
CFRs (Conversation, Feedback, and Recognition) compliments the OKRs by bridging the gap between managers and employees, which has been proven on many occasions to be more successful in combination with OKRs.
Many employees struggle with short-term tasks, while some expect some sort of guidance to help them move from point A to point B. Integrating CFRs into your company’s OKR formula gives you unfiltered insights into every challenge your employees face. CFRs give workers a platform to express their concerns and share opinions, making work easier and faster.
We will look at CFRs and OKRs work together and how these two methods combine for maximum efficiency.
What is CFR?
CFR is short for Conversations, Feedback, and Recognition. Each part is vital to measuring and improving employee performance.
Scheduling 1:1 meetings to discuss OKRs between a manager and the staff helps guide the employee on what to and what not to do as they work towards the goal. Conversations give both parties a chance to understand each other better. It allows the supervisor to point out where the worker is going wrong and how to fix these shortcomings. It also helps employees to express their needs and obstacle preventing them from making significant progress. Conversations should be in person or via video conferencing apps for better results.
As a manager, it is advisable to have a scheduled time for the meeting, listen to your employees, build trust with them, and make conversations a habit.
Like the word suggests, feedback sessions are reports of how the work is going from the employee’s and supervisor’s perspectives. Feedback should be constructive. It should highlight what the worker has done well and how they can improve or correct it. It doesn’t mean feedback should only be full of praise. Let them know their behaviors have outcomes and how each outcome affects the company.
Ensure you deliver your feedback in detail. It shouldn’t be vague; try to be specific and concise. Always state pros and cons and never delay criticisms.
It’s in our nature as humans to love appreciation. We all want to be seen and appreciated for whatever we do, regardless of how little it may seem. Recognition involves showing gratitude to each employee whenever they make progress on company goals. It could be as little as saying thank you for a completed milestone or applause for a remarkable feat achieved. Recognition boosts confidence and drives workers to want to give their best at any opportunity.
Ensure you recognize employees for both small and big achievements. Do this openly where everyone can see, not just in 1:1 conversation. Be intentional and let them know why you appreciate them,.
Differences between OKRs and CFRs
OKRs and CFRs complement each other, but that doesn’t make them the same. OKRs are set goals with timestamps, while CFRs are metrics used to monitor and analyze performance. OKRs have deadlines, while CFRs are done regularly within the OKR’s timeframe.
How OKRs and CFRs Work Together
CFRs help OKRs in continuous performance management. It helps companies keep track of progress made at each milestone rather than waiting for every quarter to conduct performance reviews.
CFRs give employees a voice that helps them share their opinions and challenges, leading to new valuable insights.
CFRs also help managers know when to adjust to OKRs in a situation where a goal may have been impractical.
CFRs also help managers to recognize when to enroll their employees in special training to improve pre-existing skills or learn new things that will be vital to achieving the OKR.
Combining CFRs and OKRs ensures everyone is on track with the company’s goals. This way, no one is left behind in their department.