Portland: Vacation rental company Vacasa will work with team management software provider Koan on its latest objectives and key results (OKR) goal-setting framework.
The joint announcement by Koan and Vacasa will mark a major step in building a transparent, constructive team culture at North America’s largest vacation rental company.
Koan CEO Matt Tucker said: “First you need transparency but once the team is talking, you can start that next conversation: ‘Okay, what outcomes are we trying to reach? And how do we deliver them?’”
“Goals used to be something executives set once a quarter, only to fall back on hastily-assembled to-do lists in the scramble to hit sales targets. Great leaders know that you can’t win by just telling people what to do.
“You have to manage to outcomes, foster transparency, and give employees autonomy to accomplish amazing things,” he added.
What is the OKR goal-setting framework?
The OKRs goal-setting framework was pioneered at Intel and championed by Silicon Valley heavyweights Google and LinkedIn. OKRs are set by individual teams that self-organise to complete the company’s objectives and these are then published transparently throughout the entire organisation.
Koan also steps in to automate the process of measuring progress, keeping teams accountable and driving conversation about goals and priorities.
How will the team management software provider benefit Vacasa?
The benefits are clear to Vacasa, which has more than 2,500 employees around the world.
Vacasa founder and CEO, Eric Breon, said: “Vacasa has undergone tremendous growth over the last several years and we needed a framework and a tool to support OKR alignment and accountability across the organisation.
“With Koan, we now have a single place to communicate and execute on our strategy. I can see the status of our top priorities and more importantly, everyone else can too,” he added.
The team management software provider takes the approach of tying objectives to the company’s mission, vision and strategy, and keeping goals integral to a team’s other work and priorities through a weekly “reflection”.
Vacasa offers property management and other real estate services directly and through licenced subsidiaries. Leveraging industry-leading technology, it maximises revenue for homeowners and its partners across its portfolio of more than 11,500 vacation homes in the U.S., Europe, South and Central America, and Africa.
It was also ranked ninth on the Inc. 5000 Fastest-Growing Companies list.