“To improve is to change; to be perfect is to change often.”
At AVL, we believe eveyone and every process has room for improvement. We value obectively assess each member and team’s performance., There are three areas:
- Key Performance Indicators (KPIs) - Monthly
- Objectives and Key Results (OKRs) - Quartely
- 360 Feeback - Yearly
The OKRs are what initiatives we are focusing on this quarter specifically. Things that happen every quarter are measured with Key Performance Indicators.
KPIs are objective and numerical measurements of each function’s effective result: Sales, Marketing, People, Finance, Product, and Engineering. KPIs are monthly and contribute to the overall company performance. Every part of the company has Key Performance Indicators (KPIs). A function may have many performance indicators (PIs) they track and not all of them will be KPIs. KPIs should be a subset of PIs and used to indicate the most important PIs to be surfaced to leadership. In addition to work performance KPIs (quality, speed, etc.), KPIs also include work attitude, professionalism, and compliance with team expectations, such as on time meetings.
Objectives and Key Results are our quarterly goals. They structure our plan to execute our strategy and help ensure our goals and are clearly defined and aligned throughout the organization. The Objectives help us understand what our aims are; the Key Results degfine how we measure success if achieved. OKRs should be ambitious but achievable. They create:
OKR Format: “We will achieve a certain OBJECTIVE as measured by the following KEY RESULTS…”
- Title: Objective as a sentence.
Title 1: Key result 1 => Outcome 1 Title 2: Key result 2 => Outcome 2 Title 3: Key result 3 => Outcome 3
360 Feedback occurs annually during the first quarter. This is an opportunity where managers, direct reports, and cross functional team members will give feedback to one another. This is about helping our team members succeed and grow. Everyone in the company is required to provide and receive feedback.