Last updated 25 March 2022 ·
Board chairs are usually well-versed with procedures that actively spark discussions and guide meetings in a certain direction. By utilising board meeting best practices, leaders can guide their fellow members through forward-thinking strategies that enhance the organisational process. OKRs, objectives and key results provide an effective goal-setting framework that can dramatically improve the way corporate leaders are able to assess the overall business performance during every board meeting; that’s how introducing performance software can help streamline discussions.
What is performance management software?
Performance management software helps facilitate setting and achieving goals and objectives, logging how team leaders and employees agree on a specific set of objectives and expectations. Often used during appraisals, OKRs can play a highly structured and effective role within performance management. OKR software provides a virtual platform for board members to communicate and collaborate on specific strategic matters. Whether it is prioritising workflows, reviewing performance, or promoting employees. The OKR tool aligns organisational workflows and expedites the decision-making process of the board. Board members and business leaders can easily communicate top-level business performance information amongst their wider teams for more effective decisions.
Introducing performance management software into board meetings
It can take a huge amount of time to manually and accurately track the objectives and key results of every team within an organisation. We’ve found a multitude of different ways people try to do this, using word docs, excel files, and Google sheets, which in itself becomes confusing and difficult to manage. OKR software automates the whole process, saving time searching through multiple files and formats, and providing accurate, real-time performance data instantly for all teams. The software allows teams and individuals at all levels to plan their workload according to what the overall business is trying to achieve, and update their progress and achievements as they go. By providing a bird’s-eye view of progress, performance and achievements being made across all departments, this software gives board members the perfect top-level business information to present at their next meeting showing exactly how close they are to achieving the overall business goals and objectives. There are many advantages that come with using OKR software in your business.
The Reclaro 1-3-5® OKR software structures strategic business priorities and cascades these throughout all teams so everyone works to a consistent planned approach and leaders can see instantly whether the business is moving forward or not. Based on the award-winning 1-3-5® business planning methodology, this software helps businesses execute their plans at pace and ultimately accelerate their results for faster business growth.
Here’s how it works:
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Decide What You Want to Achieve - Set a clear vision for the business and allocate a timeframe in which to achieve it.
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Set 3 Critical Objective - Identify the three mission-critical objectives that need to be completed which will lead you to achieve your vision.
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Set 5 Key Results for Every Objective - Break down each mission-critical objective into 5 measurable key results that indicate progress is being made towards achieving that objective.
For some examples of this kind of business planning in action, check out our blog OKR examples to help you get started
Once fully implemented, OKRs can have a positive impact on employee engagement and alignment, encouraging them to take ownership of their outcomes and be proud of the impact they make in moving the business forward. It breaks the larger organisational goals down into department focused objectives that are tied to specific results. OKRs become visible and open to all parts of the organisation, including every level of each department. Therefore, teams can stick to them as they become more coherent and aligned.
Working with OKR software enables managers and leaders to set review meetings more frequently. Any doubts that members may be having are clarified more accurately, building more cohesive teams. The key benefits of the tool include transparency and open communication, employee engagement, alignment of goals, and accelerating performance.
Why Reclaro OKR Software?
Reclaro 1-3-5® OKR software is unique in its simplicity as it provides a very focused, structured method to set goals and ensure the smooth execution of those goals across all teams. Individuals end up with a clear set of highly focused priorities to work towards which align with what the business is trying to achieve and which they have helped create according to their specialism and how they feel they can make the most impact. Once all teams are contributing to this structured layout, the overall live team performance is displayed together in a one-page dashboard. As a result, meetings run smoother and more professional with instant access to high-level information equipping decision-makers with all the information they need to make effective business decisions during board meetings.
If you would like to learn how you can get started with OKRs, download our free interactive workbook - The OKR Builder™. Alternatively, if you would like to find out more please email us at hello@reclaro.com and we will be happy to asnwer any of your questions.
