At a time when work from home is becoming the norm for many companies, it is important that the firms also relook at goal management, largely defined as Objective and Key Results (OKR) framework. Profit.co that provides OKR-based tools to companies has operations in four locations in India including Hyderabad, Chennai, Pune and Madurai, along with Singapore, US and Columbia. Its CEO Bastin Gerald tells Sruti Venugopal about the usage of OKR and what are their plans.
Implications for firms
OKR provides a framework for companies under which they can set goals for themselves which include focusing on current action to be taken, aligning goals with larger objectives, tracking commitments of employees and stretching the performance. Verticals which are unable to do any business right now must focus on planning best practices for physical distancing once they open partially.
We are a software product which allows organisations to deploy and practice the OKR methodology. An intuitive platform built by our engineering team that is extremely simple to onboard and use. It comes with over 300 metrics that allows organisations to define their own custom metrics. Our platform harnesses the combined power of OKRs, task management, employee engagement, and performance management to help businesses focus, measure, and achieve. It helps organisations continuously monitor, manage and visualise the key results. We support 10 languages and can append Indian languages.
The first two quarters (FY 2020) were well spent in understanding and developing the India market. In the next two years, we are actually targeting 300 per cent growth and want to grow 2/3x year on year and aim to onboard a hundred thousand plus users on Profit.co platform. We want to invest in the Indian market, through development centres, expanding our sales team. We plan to open an office either in Bahrain or Dubai. We are currently 75 people in India and globally we have 90 employees.
Adoption growing due to WFH
OKRs can be a great way to drive employee commitment as it positively impacts engagement. Our platform allows organisations to build transparent goals from the bottom-up, hence goal-setting is one collaborative, continual process of measuring, tracking, and aligning employee efforts with company-wide objectives. With OKR employee tracking is becoming easier as there is metric-based tracking happening on a weekly basis to prevent slippage.
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