OKRS + ACTIONS = OKRA
Last updated
Last updated
Originally, I created this for a company that I was working for, but it was never used, and I thought that it should be publicly available.
OKR = “Objectives and Key Results”
○○OKRs are tools that translate strategy into operation.○OKRs are a dynamic business framework for effective goal setting, progress tracking, and continuous improvement.○Its structured approach ensures alignment with top-level initiatives by instilling accountability across all levels of the organisation.○
Created at Intel, brought to Google by John Doerr and made popular by his book: “Measure What Matters”
Objectives
Qualitive, aspirational
Something you, your team, or your organisation aim to achieve
Key Results
Quantitative, measurable
Indicate if you achieved your objective
okrs vs KPIs
OKRs Goals with metrics attached Set an entirely new goal and then identify the signals of success Used to lead and measure Often set and measured quarterly
KPIs Standalone metrics Signals to apply toward an existing goal, project, or process Used only to measure Measured continuously (or more realistically annually)
Benefits
The OKR framework can be a superpower for creating an environment where employees work purposefully. Using the objectives and key results for goal setting offers five core benefits: Focus: Doing the most important work When using the OKR framework, deciding what NOT to do is as important as deciding what to do. Setting business OKRs forces the conversation of deciding what’s most important and letting go of the things that aren’t. With a better focus on OKR goals, team efficiency improves because strategic priorities are established, and everyone contributes to work that moves the needle. Accountability: Ownership and commitment The OKR methodology creates a sense of team ownership to improve accountability when advancing goals. And when there’s mutual trust and transparency in teams, job satisfaction, worker confidence, and organisational commitment increase. Because of the transparency of OKR goals, they are a built-in proofing tool for the organisation to help you regularly measure progress and uncover problems as early as possible. Alignment: Everyone working towards the same goals Aligning employees with the overall strategy requires clarity of top-level objectives. The OKR framework helps display the organisation’s direction and show what everyone is working towards. When employees know the company’s mission and current objectives, less time is wasted, and resources are better optimised. Transparency: Know what others are working on OKRs are as much about information access as strategy, so transparency is a big component of the OKR methodology. Transparency in OKR goals enables everyone in the organisation to know why leaders make decisions, what the company is trying to accomplish, and what teammates are working on. Your initiatives are more likely to drive impact when you understand the top-level objectives (because you can see them). Engagement: Each person is filled with purpose OKRs combine alignment, focus, accountability, and transparency to drive an outcome vital to the modern workplace — engagement. With the power of democratising decision-making with bottom-up and bidirectional goal setting, the OKR method empowers employees to go all-in on the process. The sense of personal responsibility attached to OKRs can strengthen employees' connection to your company while allowing them to see how their work impacts the progress of individual, department, and company goals.
KPI for MQL growth What: Increase MQLs by 30% this year
Why: Achieving this target will allow the business to become profitable
How: Hiring additional sales staff, improving existing marketing strategies, adopting a new tool, creating more content, etc. Who: The VP of Marketing is responsible for this metric
When: The KPI will be reviewed every quarter
Company
OKR
O: Become the #1 most-downloaded iOS productivity app
O: Increase brand recognition and awareness Marketing team
OKR
O: Increase social media engagement by 35%
KR: Research and identify the three most popular social media sites among two new target audiences and develop an engagement strategy by Jan 1
KR: Participate in six Twitter chats involving industry leaders
KR: Respond to new Facebook comments within three hours
KR: Increase the number of followers on Facebook and Twitter by 20% Individual
OKR
O: Increase social media output and reach KR: Install, configure and adopt the new social media tool
KR: Increase content output by 25% compared to last financial year
KR: Present key insights of social media to SLT
examples
Formula
By [cycle/timeframe] We [past tense, e.g. are/have/] already achieved
You’ll see this formula in a lot of examples – it’s wrong.
MEDICAL Language is best – leave the “as measured by” to the KRs
reviews
Out of sight, out of mind undermines all the benefits of OKRs;
next steps
Complete the Company level OKRs Then… Everyone to think about how they can contribute to company OKRs Things to learn / Training required Metrics you want to achieve e.g. number of calls to new clients, every new method written has a unit test running as part of each build, each accelerator has a client testimonial, each new RADS workshop activity is added to the library.
Objective: Enhance Professional Development and Career Growth
Key Results: Complete two online courses or certifications relevant to my field of expertise within the next six months. Attend at least three networking events or industry conferences to expand professional connections and knowledge.
Lead a cross-functional project within my department, demonstrating leadership and project management skills. Receive positive feedback from colleagues or supervisors during the mid-year and end-of-year performance reviews, indicating growth and improvement in job performance. Develop and implement a new process or strategy to increase efficiency in my daily work tasks, resulting in a measurable time-saving of at least 20%.
