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Reddico's OKRs Presentation – Goals, Objectives and structure

In this presentation we provide information to the team on OKRs, and how we structure them at Reddico to be aligned with our values.

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Reddico's OKRs Presentation – Goals, Objectives and structure

  1. 1. Reddico Objectives Goals, Assets, OKRs and Structure
  4. 4. Aligning people’s personal goals to those of the company, gives more empowerment What are OKRs? Reddico’s OKRs are designed to align the team to overall company goals. We want to create a transparent and open business, where people are working together to achieve shared objectives, whilst collaborating and helping others in pursuit of their own personal targets. Reddico’s immediate aims are to stabilise, with a roadmap on what foundations we need to build and maintain. Meanwhile, our annual targets will put us in a strong position for 2019. OKRs are built around the following two questions: 1. Where do I want to go? 2. How will I get there?
  5. 5. These four areas are really important in ensuring OKRs are adopted and work well The 4 philosophies of OKRs OKRs are very different to the traditional way you might set goals and targets, in four simple ways: 1. Ambitious: You shouldn’t set easy goals. Push yourself and see what more you can achieve with the tough targets that push your potential. 2. Measurable: To be measurable, they need to be qualitative. There can’t be any subjectivity in whether or not you have hit your objective, or how much of the target you’ve achieved. 3. Transparent: All objectives are visible to the whole team. This increases collaboration and encourages people to work together in an effort to hit common goals. 4. Performance: OKRs do not affect your performance review. When a monetary incentive is introduced, the ability to set your own objectives changes.
  6. 6. Every OKR should have a top line goal you want to achieve, followed by three measurable targets Example OKRs Example 1 Role: Sales Executive: Achieve Exemplary Sales Performance • Increase sales revenue by X • Maintain average win ratio of X • Increase annual subscribers by X Example 2 Role: Marketing Executive: Drive Revenue Growth • Acquire X Marketing Qualified Leads • Contribute X through online sales funnel • Carry out targeted customer acquisition promotion “OKRs are not designed as a weapon against your employees. They’re a tool for monitoring and aligning people to work together. They increase transparency, accountability and empowerment.”
  8. 8. This structure ensures OKRs are driven from the top down, keeping everyone aligned The 3 phases of Reddico’s OKRs Reddico Roadmap & Annual Goals Reddico Assets Business OKRs (Values) Personal Growth & Skill Development OKRs
  10. 10. How can you set OKRs that help drive more sales or retain more budget? Sales target SALES TARGET: £1.85 M As part of the growth plan set out for this year we are looking at a 20% increase on 2017. This year is about smart growth in the right areas of the business
  11. 11. Can you choose OKRs that will improve client relationships and boost the NPS score? Client NPS score 7564
  12. 12. Can you choose OKRs that will improve the happiness of the team? Team NPS score 7564
  13. 13. Will your OKRs be aligned to building company assets and driving growth? 24 business assets 1. Brand 2. Intellectual Property 3. Market 4. Product 5. Culture 6. Systems 7. Funding 8. Asset Zero
  15. 15. What are Reddico’s core assets? Before going through the following slides, think about the following question: “What are Reddico’s two core assets we want to make world class?” What two assets should make Reddico the standout reason we attract clients and new team members?
  16. 16. Brand assets Brand values reflect how others see Reddico, and underpin whether the company has a strong identify that’s different and helps us stand out from the crowded marketplace. • Identity: Welcome packs (internal & external), brand guidelines (int & ext), office space, website, reports on Reddico’s transformation • Philosophy: Manifesto, company vision, values, culture (can we create more media?), unique selling points, company philosophies, handbooks, client engagement • Ambassadors: Sponsorship, charities, celebrity endorsements, industry influencers, internal ambassadors, recommended agency (Moz, RAR etc.) Reddico has built reputation from providing high quality work. Brand presence takes us to the next level
  17. 17. Intellectual property assets Intellectual property is what we can own and control, increasing the awareness of Reddico and building tools that will get us noticed in the industry. • Content: Blog strategy, videos (Whiteboard Friday), podcasts, industry reports, culture posts, resource link building guide, ’what is SEO’ content, ‘in the spotlight’ content, ‘how to do SEO’ educational guides, case studies, department content • Methodology: Client lifecycles, processes (communications, onboarding, work), case studies, checklists & how tos, diagrams for company departments (how they operate), resource link building flow charts • Intellectual property: Company motto / slogan, values, technology / built assets, business name and logo (registration / trademark), brand design, social profiles, trademark concepts & processes We need to own multiple IPs in order to continue growing the company and increasing awareness
  18. 18. Product assets Product assets are what we do and offer to clients. Why is our product the best on the market? How can we make it better and more compelling to potential prospects? • Core product: Add-ons & extra services, core features & benefits, online and offline brochures, webpages, distinctive names, adhoc consultancy • Products for prospects (P4P): Webinars, strategy sessions, audits, analytics setup, eBooks, technical audits, market opportunity analysis • Products for customers (P4C): Partnerships, built assets (ReddiReporting), charity donation for each sale, content, industry reports, link building • Free gifts (no questions asked): Presentations, apps, red alerts, SEO tools, samples, created assets (Meta checker), health checks, videos, redirects plugin, podcasts, cookies plugin, events, reports, education, free PPC audits Developing the core product and adding extra services gives us more avenues to explore
  19. 19. Market assets How are we marketing Reddico and making the most of various media to get the word out about how great we are? • Position: Partnerships, publications, lists (top 100, Deloitte etc.), accreditations (ISOs, industry), awards (industry, best places to work etc.), become championed by an expert, Google Partner certification, associations (Moz, RAR) • Channels: Interviews, social media (Twitter, LinkedIn), guest posting, speaking at events, webinars / videos, twitter discussions (live Q&As) • Data: Client ‘know me’ programmes, onboarding client survey, upsell based on data, ask prospects for more information, NPS scores, business data (what impact do we actually have) Market assets give us more power to attract new clients and build a greater presence online
  20. 20. Culture assets We place a significant emphasis on the culture of Reddico and going forward the aim is to continue building on this. • Sales & marketing: Case studies, marketing campaigns, reports, onboarding, handbooks, culture presentation, welcome packs, internal videos on culture & vision • Management & admin: Organisational charts, role definitions & descriptions, rewards, remuneration policies, weekly team meetings, flexibility policy, performance reviews, disciplinary / complaints, communication tools • KPI: Book, videos (knowledge) – How can we take the brand to the next level? • Technicians: How can we maximise the skills of the team by creating additional assets? Culture assets give us a great place to work and attract clients because of the good feeling at Reddico
  21. 21. Systems assets Systems assets help to streamline operations, push Reddico forward and improve on what is available to keep building. • Marketing & sales: Online marketing for Reddico, website SEO, website PPC, social advertising, marketing case studies • Management & admin: Finance systems, payments, finance automation, training programmes, performance reports, planning, forecasting / projections, invoicing • Operational: Provide extra value to clients, newsletters, welcome emails to new clients Systems assets document and improve on what we already do, finding efficiencies and new opportunities
  22. 22. Funding assets Reddico is like any other company - we need money in the bank to keep on growing. So, how can we put in place systems that would attract funding and investment (if we want it)? • Documentation: Business plans, forecasting, company shares • Valuation: Professional valuation from an independent organisation • Structure: Business structure improvements, legal agreements, internal structure • Risk mitigation: Professional indemnity insurance, shareholders agreement, asset protection policy, KPI insurance, policies [legal] [operational] [cyber security], guarantees / debentures, risk identification Funding assets provide legal documentation on the company and how it runs
  23. 23. So, what are Reddico’s core assets? What two assets should make Reddico the standout reason we attract clients and new team members? Brand Intellectual Property Market Product Culture SystemsFunding
  24. 24. So, what are Reddico’s core assets? Why can’t we make these two assets world class? Then the others will follow suit… Product: Our products and the people we have in all areas of the business are the best fit to drive excellent results and create meaningful campaigns for our clients. Culture: Reddico’s culture is about putting people first and creating an environment where anyone can thrive. We’ve worked hard on this, but there’s more to do.
  25. 25. BUSINESS OKRs
  26. 26. “Business OKRs are designed to provide opportunities for the whole team to get behind and drive overall company targets. You will be contributing to the ambitions of Reddico, with objectives that are measurable, relevant to you, and have a significant impact on clients, the team, and the larger vision.” All objectives are centred around the company values: • Build open and honest relationships / Build a positive team spirit • Embrace and drive change • Make a real and meaningful impact • Be passionate, proud and determined • Pursue growth and learning The business objectives are tied completely to company values – keeping them forever in focus Business objectives
  27. 27. This value is all about people, whether it’s the team you work with, or the clients you speak to. Build open and transparent relationships “The culture of Reddico and how we work is one of our strongest assets. We put the development and happiness of the team as the highest priority and want to continue encouraging the best talent to join us. This includes making the office a better place to be, refining our recruitment, and training and developing the team. However, we also want to build exceptional relationships with our clients. We want to agree partnerships, develop excellent customer service and ultimately, secure a world-class NPS score.“ This value is dedicated to building better relationships with the people you work with Build open and transparent relationships
  28. 28. This value is about making a difference. How will you set about being different from the norm and driving a strategy you can be proud of, which clients will love? Embrace and drive change “Strategy helps us become better at what we do. As a company we want to drive change, but to do this, everyone needs to be on board. From having a great set of products, to putting the right marketing strategies in place, these all help to create a strategy that will drive change across the business. How can we make Reddico better?” Driving change through the identification of new strategies and ideas should be constant Embrace and drive change
  29. 29. Having the right strategy in place doesn’t necessarily mean results will follow. You still have to produce the goods and make an impact on the lives of your team and your clients. Make a real and meaningful impact “To make an impact on our team, our clients, and the community around us, is what we want to be known for. It means a lot to us. However, we can only make an impact if everyone is pulling in the same direction. It’s a team effort. To do this we need to build out Reddico’s visibility, retain clients through exceptional performance, develop new tools to retain them, and meet the needs and wants of everyone we come into contact with. This includes exceeding our SLAs, producing assets to help deliver a better service, and improving efficiency and productivity.” How will your efforts make a real impact on you and those around you? Make a real and meaningful impact
  30. 30. Reddico needs to grow to evolve. We want to bring on more talented people to join the team and make Reddico a known brand throughout the industry. But this needs sustained growth. Be passionate, proud and determined “As a company, Reddico can’t continue to grow without money in the bank. We need to be forecasting future growth, delivering customer service that retains clients, and improving the way we continue to win new business. Our client NPS score gives an overview on happiness, but we want more referral business, more client testimonials, a better review of our financial future, and P&Ls for every department. Everyone can help us to grow and ensure a bright future.” Growth is vital to a company’s fortunes – everyone can help generate more income Be passionate, proud and determined
  32. 32. Not everything should be tailored to helping Reddico grow. You need your own personal targets and the opportunity to continue learning and refining the skills you’ve picked up. Personal Growth target “Personal growth is very important. It gives you a chance to be better at your job, pursue a career you love and can be passionate about, whilst also helping to contribute to the wider industry. Whether you choose to take a course, watch webinars or become involved in public forums, you’re developing yourself professionally and personally.“ Skill Development target “Skill development is about becoming better at your job. What skills or tools do you need to deliver work to a higher standard? What do you need to know to offer extra to our clients, or the team you work with every day? Find something that will change the way you approach your work, or drive improvement in your ability.“ You should always have personal goals in mind to push and broaden your skills and knowledge Pursue growth and learning
  33. 33. HOW IT WILL WORK
  34. 34. Everyone will have 3 OKRs each quarter. Each OKR is broken down into a top line item (what you want to achieve) and three metrics to measure success. For example: Drive more business sales for Reddico • Have initial conversations with 10 new customers every month • Improve conversion rates to 70% • Bring on 5 new clients every month You will be able to choose two business objectives and one personal growth / skill development objective. OKRs are chosen by you, but you can ask for help from your Line Manager and the team. You want to ensure they’re aligned with company targets, and tough enough. You can also have regular catch-ups with your Line Manager and the team to review progress and identify barriers or blockers. All OKRs will be visible company-wide to improve transparency and collaboration cross- department Structure of individual OKRs
  35. 35. EXAMPLE OKRs
  36. 36. Every department and team member can make a real difference to how Reddico operates on a day-to-day basis. You can also help improve the way we run, the strategies we use, and the output we deliver. So, how does this work on a department level? Your OKRs should be tailored to improving Reddico at every level. How can you make a difference? How can I make an impact?
  37. 37. These departments can focus on delivery of client work, communications, and pushing Reddico SEO & PPC • Increase budget by % • Reduced SLAs • Upsell opportunities • Time / efficiency gains • Increased RPP • Trialling tools & software • Efficiency of client reports • Mapping out / improving processes • Delivering training to team • Increase number of visitors to Reddico through SEO • Get X testimonials for website • Improving P+L of the team • Increasing the RPP in department • Increasing client spend • Budget retention of X • Increasing budget to X of SEO • Pass X number of employees on Google exams • Increase number of visitors to Reddico through PPC • Present X to team
  38. 38. The content team can also look at work delivery, efficiency gains and opportunities to push Reddico Content • Customer personas (Reddico & clients) • Service descriptions • SLAs for outreach • Reduced SLAs • Trialling tools & software • Suggesting new opportunities • Mapping out / improving processes • Delivering training to team • Reduce number of push backs from clients • Developing brand voice / guidelines • Blog posts / content production • Content Marketing opportunities • Create how to guides and educational material for website • Highlighting opportunities to market Reddico • Increase social following (Reddico)
  39. 39. The development team can drive assets Reddico create, to give us stronger market awareness Development • Asset creation • Pitch opportunities to stakeholders • New features for tools (ReddiReporting) • Testing X number of new tools • Carrying out user testing • Create features for Reddico website • Automate processes • Increase code review time • Producing templates for spec documents • Considering X number of interactive opportunities • Competitor research • Identify free gift opportunities • Reduce response time • Increase time learning additional / new languages
  40. 40. Sales objectives are all about driving new business, selling more products, and being more efficient Sales • Securing X number of new partnerships • Converting X amount of leads into sales • Bringing on X number of sales a month • Creating pricing models for all departments • Developing 4 USPs to consider • Create brochure for main products • Produce X lifetime value to client reports • Collect X money upfront in contracts • Produce X number of case studies • Sending welcome packs to all new clients • Becoming recommended agency on X
  41. 41. Any department can utilise customer service as a focus for their quarterly objectives Customer Service & Administration • Ensuring X% of NPS responders • Getting X reviews on Google • Creating escalation processes for clients • Having X client lunch days • Sending X newsletters over the quarter • Conduct X meetings with the team to identify ways to improve their experience • Increase onboarding efficiency by X • Identify X opportunities to onboard team / clients better • Reduce expenses sign-off time by X • Identify X accreditations for Reddico • Help schedule training for X team members in quarter • Find X number of charitable causes to support • Identify X number of activities for a Reddicon
  42. 42. The operations and finance teams can make a difference in how the company works at all levels Operations & Finance • Reducing attrition rates • Bringing the cost of recruitment down • Training X team members • Presenting X number of new ideas • Increasing Glassdoor reviews • Having a fun event every month • Ensure X team weekly meetings • Implementing manifesto • Nominated for X awards (winning X number) • Creating culture videos • Sponsoring X events • Create checklists for X number of processes • Forecasting financial figures • Producing X P+L sheets • Reducing costs in X • Closing monthly reports by X • Producing X reports for business • Reduce time for payments by X • Improve invoicing efficiency by X
  43. 43. These are just examples of personal growth targets – choose ones tailored to you Personal Growth & Skill Development • Conferences • Webinars • Videos • Speaking at events • Attending events • Reviewing competition for ideas • Logging X time on projects • Contributing to blogs • Partake in live Twitter Q&As • Learning X new skills • Developing skills • Career matrix based skills • Record podcasts for website • Passing exams
  44. 44. DISCUSSION & Q&A