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Using OKRs to Achieve Great Results in 2015

Slides from our webinar conducted on January 28th, 2015 about the Objectives & Key Results goal-setting process.
It’s the start of a new year, and for many of us that means setting and achieving some serious company goals.
A lot of companies are attributing their success to a sophisticated goal setting process called Objectives and Key Results, or OKRs for short. OKRs is the goal setting methodology used and popularized by companies like Google, Dropbox, and Zynga.
OKRs help businesses achieve complete transparency and alignment with clearly defined goals. It also helps with measuring their progress and provides opportunities to reflect back and understand what worked and what didn’t. It’s no wonder companies everywhere are flocking to it.
…So, where do you start? And how do you become one of the many companies benefitting from OKRs?
In this webinar we’ll cover:
– Quick introduction and how to get started if you are new
– How many OKRs you should have
– How to align and cascade OKRs
– What are the responsibilities of the employees and managers during an OKRs cycle
– How to create engagement during an OKRs cycle
– How to measure, score, and learn from OKRs
– What is the timeline of the activities that need to be done to execute an OKRs cycle
– Audience Q & A session

Using OKRs to Achieve Great Results in 2015

  1. 1. Webinars Objectives and Key Results (OKRs) How to use the OKRs process to achieve great results in 2015 and beyond
  2. 2. @7Geese #OKRs2015 IT’S NICE TO MEET YOU. Wendy Pat Fong Director of Customer Success Amin Palizban CEO & Founder
  3. 3. AGENDA 1. History of Management by Objectives 2. Introduction to Objectives & Key Results (OKRs) 3. Attributes of an OKR 4. Cascading and Aligning OKRs 5. Closing, scoring, and learning from OKRs 6. OKRs Process Timeline 7. OKRs Common Pitfalls and Best Practices 8. Audience Q & A
  4. 4. MANAGEMENT BY OBJECTIVES Management framework where managers set objectives (derived from bigger objectives) and measure performance against it Popularized by Peter Drucker in the 60s Enforce all efforts are aligned with organization’s common goal Eliminate gaps, friction, and duplication of work Using self-control to drive performance rather than domination Enable motivation, alignment, and better teamwork
  5. 5. MANAGEMENT BY OBJECTIVES SMART Goals, KPIs, & Balanced Scorecards in 80s and 90s OKRs is an MBO process invented by Intel and introduced to Google in 1999 by John Doerr After Google’s success with OKRs, Zynga, Dropbox, LinkedIn, and many other tech companies adopted the process Rick Klau from Google Ventures presented how Google does OKRs in 2013 and it has become even more popular
  6. 6. ANATOMY OF A SINGLE OKR Create multi-planetary life - Send unmanned vehicle to Mars by 2002
 - Send humans to Mars by 2040
  7. 7. ANATOMY OF A SINGLE OKR Conduct a great webinar on OKRs - Have 50 attendees join
 - Finish on-time within 1-hour
 - Have 10 people commit to trying OKRs
  8. 8. ATTRIBUTES OF OKRS Set quarterly and annually Measurable & graded each quarter & stretch (70% achievement is good) 50% top-down and 50% bottom-up Cascaded: Company, Department, Team, and Individual levels Are publicly available to all the company Maximum 5 Objectives per person with 4 Key Results De-coupled from performance evaluations
  9. 9. CASCADING AND ALIGNMENT CEO or the executive team set annual OKRs and then derive quarterly OKRs for the organization Each Key Result from company quarterly objective becomes an Objective for managers one level down The assigned manager then sets Key Results for the new objective inherited in negotiation with her manager The process is repeated until everyone in the company has set their OKRs CEO’s Objective Department Leader’s Objective KR KR KR Team Lead’s Objective Individuals Objective KR KR KR KR KR KR KR KR KR
  10. 10. CASCADING AND ALIGNMENT
  11. 11. CLOSING, ASSESSING, & LEARNING Every objective must be graded by employee/manager at end of the quarter Google recommends rating all Key Results from 0-1
 - average of all KR grades become the objective score
 - average of all objective grades become individuals overall score If objectives are measurable, the objective progress can become the score and then you can just say if the objective met or did not meet expectations Important: Grading/assessment is meant to be for learning and reflection purposes and not performance evaluations
  12. 12. OKRS PROCESS TIMELINE Jan FebDec Set and communicate Q1’s organization OKRs Everyone to draft their Q1’s OKRs and align to their manager Managers meet with their direct reports to close/grade Q4’s OKRs and approve Q1’s OKRs Managers to have 1:1s at least once a month with their direct reports to review progress on OKRs Q4 Q1
  13. 13. PITFALLS & BEST PRACTICES Demotivation if OKRs are too hard & linked to compensation Takes CEO & Exec team commitment Takes about 2 quarters to get right Must be negotiated and not delegated Focus on learning and continuous improvement Make sure teamwork is promoted Limit number of Objectives (max 5) and Key Results (max 4)
  14. 14. Q & A Email wendy@7geese.com for any other questions
  15. 15. THANKS FOR JOINING! A recorded version of this Webinar will be available on our blog at blog.7geese.com Webinars

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Slides from our webinar conducted on January 28th, 2015 about the Objectives & Key Results goal-setting process. It’s the start of a new year, and for many of us that means setting and achieving some serious company goals. A lot of companies are attributing their success to a sophisticated goal setting process called Objectives and Key Results, or OKRs for short. OKRs is the goal setting methodology used and popularized by companies like Google, Dropbox, and Zynga. OKRs help businesses achieve complete transparency and alignment with clearly defined goals. It also helps with measuring their progress and provides opportunities to reflect back and understand what worked and what didn’t. It’s no wonder companies everywhere are flocking to it. …So, where do you start? And how do you become one of the many companies benefitting from OKRs? In this webinar we’ll cover: – Quick introduction and how to get started if you are new – How many OKRs you should have – How to align and cascade OKRs – What are the responsibilities of the employees and managers during an OKRs cycle – How to create engagement during an OKRs cycle – How to measure, score, and learn from OKRs – What is the timeline of the activities that need to be done to execute an OKRs cycle – Audience Q & A session

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