Preheat your oven to 350°F (175°C).
In a large skillet, heat the olive oil over medium heat. Add the sliced onion and sauté for about 5-7 minutes until they are soft and translucent.
Add the ground beef to the skillet with the onions. Cook until the beef is browned, breaking it apart with a spoon, about 5-6 minutes. Drain any excess fat.
Stir in the garlic powder, onion powder, salt, and black pepper. Mix well to combine.
In a large mixing bowl, combine the uncooked rice, beef broth, cream of mushroom soup, and Worcestershire sauce. Stir until well mixed.
Add the beef and onion mixture to the bowl and stir until everything is evenly combined.
Pour the mixture into a greased 9x13-inch baking dish. Cover with aluminum foil and bake in the preheated oven for 30 minutes.
Remove the foil, sprinkle the shredded cheddar cheese on top, and bake uncovered for an additional 15 minutes, or until the cheese is melted and bubbly.
Let the casserole cool for 5 minutes before serving. Garnish with fresh parsley if desired.