OKRs in all LOVOO locations
Fast growth is an achievement for many companies! LOVOO is putting its trust in a new method to improve internal communication. The method of Objective and Key Results – OKRs in short – has proved successful in other companies such as Internet giant Google or chip manufacturer Intel. In July 2015, LOVOO began to use the tool from the USA in all locations.
LOVOO Communications Expert Monika Biedulska explains how it works. “We are making the shift from a startup to a globally active high-growth company.” Within a little under four years, LOVOO has grown from a small app to a global (international) player with almost 40 million users worldwide (as of September 2015) and 160 employees. And it is not finished growing yet! On average, the company recruits 10 employees per month and is always reporting new utilization records.
Transparency is a top priority of OKRs. With the help of the new concept, LOVOO has defined clear company, unit and team goals and coordinated these with all employees. No more than half of all goals must be determined directly by management and the remaining amount by the employees themselves. After a period of 3 months, the goals (Objectives) are compared with the quantifiable results (Key Results) and presented in each team in the company. Every employee can view all OKRs of other teams and of management and track the progress.
The conclusion is that OKRs work best in a transparent company culture at LOVOO. They will become more important in the future in order to learn and master steps to realize the vision.