If you’re an in-house counsel or law firm leader, you’ve likely heard whispers of this newfangled goal-setting technique called OKRs. What are they? You ask. And what can OKR software actually do for your legal team?
Well, pull up a chair, friend. You’re in the right place to get the full low-down on Objectives and Key Results (OKRs) and how purpose-built software can help legal teams unlock focus, productivity, and strategic alignment like never before.
What Will This Guide Cover?
This brief article or guide will cover all you need to know about the OKR process. In particular, you’ll see the benefits of OKR Software for law firms and legal teams, although these platforms help many industries.
This guide covers what OKRs and OKR software are all about. It explores why legal teams should adopt OKRs. It provides tips from pros on implementing OKR software.
Real-world legal team OKR examples are shared. Measuring gains with OKR software is discussed. Sounds good? Then dive right in to learn more.
What Are OKRs and OKR Software?
Objectives and Key Results (OKRs) have become the hottest new method for goal-setting in legal teams. But what exactly are they?
A Quick OKR 101
OKRs are a framework to help teams set ambitious, structured goals and track measurable results. The objectives define your desired outcomes, while key results detail the milestones for getting there.
For instance, the objective could be to reduce contract processing time, and the key results would be implementing contract workflow automation by Q3 and decreasing the average contract turnaround time from 5 days to just 3 days.
OKRs create alignment, accountability, and agility. Teams focus on goals that ladder up to company priorities. The cadence of OKR cycles (usually quarterly) allows for rapid adaptation. And results are out in the open, so teams own their progress.
The Role of OKR Software
As the name suggests, OKR software platforms are purpose-built to help teams execute the OKR methodology. Think of them as your OKR command center.
With OKR software, legal teams can:
- Visually map OKRs in a centralized location
- Assign owners to OKRs and results
- Update progress in real-time
- Track performance with scoring
- Facilitate alignment across the organization
Leading platforms make OKR execution seamless. Read on to see how they can transform legal teams.
Why Law Firms And Legal Departments Need OKR Software
You may be wondering, what’s the hype around OKR software for legal teams? You’re already using digital marketing to boost lead generation and find many more clients. So, why implement OKR processes, what are the benefits?
In essence, OKR software provides legal teams with laser focus on strategic priorities, skyrocketed productivity, showcased value and impact, seamless adaptability to change, and rallied and engaged team members – exploring the key benefits makes clear why law firms and legal departments need OKR software.
Enhanced Focus and Strategic Alignment
OKR software allows legal teams to focus on aligned goals. This is done by cascading focused OKRs from leadership down. OKRs are limited to 2-5 per cycle. This enhanced focus concentrates efforts on driving impact. It moves the needle for the business despite crowded plates and competing demands.
Improved Productivity and Team Engagement
According to Gallup, only 33% of US workers feel engaged at work. But a looming deadline can light a fire under your team. OKR software helps with engagement by defining measurable results with quantitative metrics and deadlines, tracking public progress for accountability, and scoring OKRs to prompt action based on status.
Additional features like gamification make goal-setting rewarding, keeping legal professionals motivated and productive while injecting fun and annihilating inefficiencies.
Better Communication and Collaboration
Silos create communication barriers. This impedes legal teams from collaborating across units. OKR software can promote connections.
This is done by increasing visibility into goals and progress. As well as aligning priorities and providing idea exchange forums. This enables fluid communication and partnerships.
Increased Agility and Adaptability
In dynamic business environments, legal teams must stay nimble and adaptable. OKR software promotes agility through regular cycles to pivot as priorities shift. It also provides results-based scoring to change course as needed. Plus, rapid progress updates enable real-time visibility. With the ability to course-correct quickly, legal teams can turn on a dime.
Implementing OKR Software in Your Legal Team
Alright, you’re sold on OKR software. But how do you actually roll it out successfully?
Here are 7 pro tips for getting up and running with legal OKRs:
1. Get Leadership Buy-In
Like any change, OKR adoption requires commitment from the top down. Make the case to managing partners or general counsel and get their active backing to give your efforts legitimacy.
2. Train Your Team on OKRs
Don’t assume everyone is familiar with OKRs. Provide training on the methodology and how it will benefit the team. Clear understanding smoothes the transition.
3. Link OKRs to the Broader Firm Strategy
Ensure your legal OKRs ladder up to the priorities outlined in the overall firm strategy. This alignment lets you maximize impact.
4. Set Ambitious But Achievable Objectives
Stretch goals inspire and motivate teams. But objectives must be within reach, so review historical performance when deciding on ambition level.
5. Define Quantitative Key Results
The “R” in OKR stands for “results”. Make sure your key results are measurable and quantitative, such as specific deadlines, percentages, or monetary amounts.
6. Use the Software to Track Progress
The magic is in the tracking. Use your OKR software to monitor progress in real time. Update scores regularly and course-correct as needed.
7. Stick With It
Change takes time. Stick with OKR software for 2-3 quarters to allow your team to adapt to the new cadences and processes.
Potential Examples of Legal Team OKRs
Still unsure what legal OKRs look like in practice? Here are a few possible examples to give you ideas:
Enhance Client Satisfaction
Objective: Improve Net Promoter Score (NPS) from 60 to 75+
Key Results:
- Survey 50 clients on satisfaction metrics by set deadline
- Shorten inquiry response time to under 6 business hours
- Meet individually with 5 key accounts monthly
Increase Profitability
Objective: Boost firm profit margins by 2 percentage points
Key Results:
- Complete the time & billing process improvement workshop by your set deadline
- Reduce write-offs due to erroneous time entries by 40%
- Realize $100k in cost savings from contract renegotiation
Overcoming Resistance to Change
As a lawyer you know some people resist authority. However, employees are also sometimes resistant to change. Like any new initiative, you may meet some resistance when rolling out OKR software in your legal team. Here are tips to get buy-in:
- Communicate the benefits clearly to showcase how OKRs will make jobs easier and results better.
- Involve the team in shaping initial objectives and key results so they feel ownership.
- Offer robust training to create comfort with the OKR concept.
- Start small with a pilot group to test and refine your approach before expanding.
- Highlight quick wins to build confidence in the value of OKRs and software.
With an empathetic approach, you can turn skeptics into champions.
Wrapping It Up
OKR platforms have helped many businesses small to enterprise size grow and meet goals faster. For the legal industry, OKR software can help increase productivity and employee engagement. And, OKR software allows law firms to adapt to change rapidly.
