OKRs: A Game-Change for Your Legal Team

As legal professionals, you already understand the importance of setting goals. According to Newton, Objectives and Key Results (OKRs) is a goal-setting framework based on agile methodology. It can transform the way in-house legal teams operate and the scale of what they can achieve.

OKRs differ from key performance indicators (KPIs). OKRs require you to identify both your goal and the metrics that will help you stay on track. KPIs are metrics that track progress. When used properly, the two complement each other.

How do OKRs work? Generally, an OKR will have one objective and a few corresponding key results. The objective outlines the high-level goal, and the key results are granular milestones.

These are the four principles for developing your OKRs:

1. Select your timeframe.
2. Set an objective
3. Ensure your key results are measurable
4. Track your progress

Ideally, your legal team should have two or three OKRs, with each one specific, measurable, achievable, relevant, and timely (SMART).

1. Create clear, inspiring, and measurable goals that align with the organization’s strategic direction and involve the entire team in the objective-setting process.
2. Ensure that each key result directly supports the corresponding objective and provides a clear inspiring measure of success.
3. Finally, regularly track your progress against the key results to ensure accountability and adaptability.

In-house legal teams are working toward becoming valued business partners and helping drive organizational success. By defining specific and measurable key results, legal teams can objectively assess their performance to make sure they are making substantial progress.