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OKR explained in 10 slides
The document explains the concept of OKRs (Objectives and Key Results), a framework used by individuals and organizations to focus on important objectives and measure progress. It outlines the definition of objectives and key results, emphasizes the importance of alignment with the entity's purpose and vision, and discusses best practices for implementing OKRs effectively. Key recommendations include making OKRs public, ensuring they are measurable, and maintaining a focus on stretching goals without linking scores to remuneration.
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OKR explained in 10 slides
- 1. OKR explained in 10 slides ByMarshall King @marshallgking www.align.work
- 2. OKR = Objectivesand Key Results It’s a way for an individual, a team or a company to stay focused and work towards important objectives By Marshall King @marshallgking www.align.work
- 3. Objective An inspirational statementdescribing the state of affairs at some point in the future Key Result A measure that defines whether progress has been made towards the Objective. An OKR By Marshall King @marshallgking www.align.work
- 4. Purpose and Vision Purpose Astatement explaining what the company, team or entity is for and why it exists Vision An holistic description of how the company, team or entity will look at some point far in the future By Marshall King @marshallgking www.align.work
- 5. Alignment Purpose Vision OKR 1 OKR2 OKR 3 OKR1a OKR1b OKR1c OKR2a OKR2b OKR3a OKR3b Company Team OKR OKR OKR OKR OKROKROKR OKR OKR OKR OKROKR Individual OKRs align to the entity Purpose and Vision By Marshall King @marshallgking www.align.work
- 6. Vision - 2018 Timing Purpose 2018 Q1Q2 Q3 Q4 OKR1 OKR2 OKR3 OKR4 OKR1a OKR1b OKR1c . . . Company Teams OKR2a OKR2b . . . Engage the teams to prioritise and schedule the OKRs to move closer to the Vision You can’t do everything at the same time By Marshall King @marshallgking www.align.work
- 7. Defining your OKR Objective- describe what you want to achieve and by when Key Result – describe how you’ll measure your achievement Objective abandoned Describe a poor outcome in terms of the KR Describe outcome with some progress in terms of the KR Describe the expected outcome of the KR Describe a good outcome of the KR Describe a great outcome of the KR 0 1 2 3 4 5 Key Result Outcomes KR Score OKR Description Describe the OKR carefully Decide how you will score the Key Result By Marshall King @marshallgking www.align.work
- 8. Example OKR Launch ourbusiness into the USA Market by end of Q1-2018 Delivery of a US legal entity, with staff, initial proof of concept sales, and clear path to profitability measured in terms of sales pipeline Plan was abandoned US legal entity + run from UK + no local staff or sales completed US subsidiary formed + run from UK + local manager hired + £0 sales completed + sales pipeline >£50k in place US subsidiary formed + local manager in place + sales >£10k completed + sales pipeline >£50k in place US subsidiary formed + local team hired, sales >£30k completed + pipeline >£100k exists US subsidiary formed + local team hired + sales >£50k completed + pipeline >£100k exists 0 1 2 3 4 5 Good Key Result Scores help define lower level OKRs By Marshall King @marshallgking www.align.work Key Result Outcomes KR Score OKR Description
- 9. Check In Q1 Achievements sincelast check in (optional) Next steps (optional) Progress blockers (optional) Estimated OKR Score at end of period, 0-5 (mandatory) Reasons for change in estimated OKR score (mandatory) Timing Structure Improvement opportunities (optional, private) Drives focus, helps senior management remove blocks, great for 1-1 coaching By Marshall King @marshallgking www.align.work Check In
- 10. Reporting Reveals areas needingmore resource or attention, reduces risk of surprises, highlights opportunities for commendation By Marshall King @marshallgking www.align.work
- 11. Best practise OKRs arepublic Everyone should be able to see everyone else’s OKRs. This promotes teamwork, communication and cross functional understanding. Don’t have too many at the same time Having too many OKRs at once reduces focus. If you need to include more OKRs, push them forward to start in the next period. Make Check Ins a non-negotiable habit Check Ins drive continued focus, and let the organisation know where extra resources might be needed. Also superb for coaching and development. OKRs must be measurable Pick a Key Result for each Objective. If there is more than one Key Result required to assess success, break the Objective down to two contributing Objectives, each with one Key Result. OKRs should be stretching Once the process is bedded in, work on having more stretching OKRs. Research shows that staff are more energised by challenging targets. OKRs scores should not impact remuneration Making OKR Scores a component of remuneration reduces incentive to set stretching goals, which is one of the key benefits of the OKR program. By Marshall King @marshallgking www.align.work
- 12. Align.Work assists companieswith OKR implementation. See www.align.work for more information Make an impact : Take responsibility : Have high standards : Continually learn and improve A correctly managed OKR program will engage and motivate staff to be happier, work smarter and deliver more value to your business. By Marshall King @marshallgking www.align.work