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Introduction to Objectives and Key Results. The Basics & FAQ of OKRs.

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Training presentation on OKRs - Objectives and Key Results - goal-setting methodology. Presented by Jüri Kaljundi, CEO & Co-founder of Weekdone, one of the world's leading OKR software providers and consultants.

Published in: Leadership & Management
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Introduction to Objectives and Key Results. The Basics & FAQ of OKRs.

  1. 1. The Basics of OKRs Introduction to Objectives and Key Results Weekdone OKR Software: weekdone.com Jüri Kaljundi CEO & Co-founder
  2. 2. OKRs are your daily poster on the wall: What should I do next? What should I focus on? How far am I?
  3. 3. It’s said: “If there is one leadership and team management process anyone should try, it’s OKRs” Used by: Google, LinkedIn, Sears, Twitter, Yahoo and thousands of others. So should you.
  4. 4. What is OKR methodology? • Set quarterly goals – Objectives • Measure metrics progress – Key Results • Share it with leaders & co-workers • One direction everyone works towards • Aligned & linked hierarchy Company > Department > Team > Personal • Transparency and open clearly communicated teamwork weekdone.com 4
  5. 5. Importance of shared goal-setting via OKRs • Vision of where you want to get • Prioritization of how to get there • Know what's expected of you • Guide people towards right path • Daily focus on most important goals • Freedom inside your own sandbox weekdone.com 5
  6. 6. Example Company or Sales OKR • Increase Q2 recurring revenues – Increase average subscription size to at least $295 per month – Increase the share of recurring subscriptions vs one-time deals to 85% – Up-sell to 100 existing customers – Reduce churn to less than 1% monthly weekdone.com 6
  7. 7. OKR key points • 3-5 Objectives you strive for – Where you want to get • 3-5 Key Results to be achieved under each Objective – Metrics, to see if you’re getting there weekdone.com 7
  8. 8. Why limit amount of goals and metrics? • 3 O x 3 KR = 9 • 4 O x 4 KR = 16 • 5 O x 5 KR = 25 People can remember and focus on 9 things, but not 25 or more weekdone.com 8
  9. 9. Differences compared to other methods • Two-level grouping: – One O has multiple KRs • Everything is measurable • Limited amount of goals to focus • Linked from company to team to person • All public across the company • Goals are difficult, but not impossible • Often not tied to salary & bonuses weekdone.com 9
  10. 10. Objectives: your goals. The “What?” • Aspirational • Challenging • Qualitative • Time bound • Unambiguous weekdone.com 10
  11. 11. Key Results: evaluation of achievement. The “How?” • Measurable & Quantifiable • Objectively gradable • Achievable • Usually numerical • Actionable • Tangible • Outcome related Did we meet the Objective? weekdone.com 11
  12. 12. Key Result types • 0-100% progress • Any % value or x% to y% change • Euros, dollars • Items, units, articles, people • 1-5 or 1-10 grade rating • Milestones, stages, project phases • Deliverables, tasks, outcomes weekdone.com 12
  13. 13. Roof-shots • Definitely achievable and easier • Practical regular activities • “Business as usual” • Still pushing to be better Need to hit 100% weekdone.com 13
  14. 14. Moonshots • Stretch goals • Ambitious bold goal you might reach • Failure and risk-taking is an option • Challenging & uneasy • Push people to achieve more Even 60-80% progress or 2/3 is good weekdone.com 14
  15. 15. Keys to make OKRs a success • Less is more: max 3-5 Os and KRs • Evaluate and mark progress weekly – Comment on milestones • Say no to non-OKR activities • Think big, set goals that matter a lot • Reflect each week and at the end of Q how far you are weekdone.com 15
  16. 16. Common mistakes • Over 5 Os or KRs • Listing too small unimportant tasks • KRs not measurable, not numeric • Not understandable to co-workers • Continuous ongoing Q-to-Q goals have no growth • Not challenging enough weekdone.com 16
  17. 17. Usual schedule • Overlapping last Q review + new Q definition • 1-2 weeks before and after Q ends/starts • Mid-quarter review at 45 days – Or monthly each 30 days – Ideally on all company levels weekdone.com 17
  18. 18. Hierarchy of OKRs and linking • Top-down and bottom-up - both OK • Usually start from Company level • OK to do 1 or 2 levels only at first • Lower level O becomes higher level KR • Link weekly tasks to Objectives weekdone.com 18
  19. 19. Examples of bad KRs • Keep working on product roadmap • Talk to customers about our products • Make sure our employees are happy • Keep working on new website • Assure onboarding is done well • Continue the CRM project • Support our sales team weekdone.com 19
  20. 20. Try out Weekdone OKR software Sign up for free at Weekdone.com Browse the OKR Examples Database http://okrexamples.co/ weekdone.com 20
  21. 21. Helpful OKR resources Free OKR Guide E-book https://weekdone.com/ebook/okr-goal- setting-guide-template/ Employee Guide to Getting Started with OKRs https://blog.weekdone.com/employee- guide-getting-started-okrs/ weekdone.com 21
  22. 22. Example Company or HR OKR • Improve internal employee engagement – Reach weekly employee satisfaction score of at least 4.7 points – Conduct 3 monthly “Fun Friday” all-hands meetings with an external motivational speaker – Start using OKR’s in all 10 teams and 5 departments weekdone.com 22
  23. 23. Example Marketing OKR • Successfully implement the weekly newsletter – Grow subscriber base at least 5% per week – Increase the CTR% to above industry average of 3.5% – Finalize the content strategy, key messages and topic structure for next 6 months weekdone.com 23
  24. 24. Example Marketing OKR • Activate user-testing – Conduct at least 4 face to face testing sessions per month – Receive at least 15 video interviews from Usertesting.com – Make sure at least 80% of people interviewed are from core target group (Directors, VP’s, CEO’s, Division Managers) not random friends weekdone.com 24
  25. 25. Example CFO or Finance OKR • Improve annual budgeting and business planning – Receive business line budget proposals before Sept 1st – Conduct a daily planning session with each division manager before their proposals – Have each business line manager start using our online dashboards – Close the final budget by November 30th weekdone.com 25
  26. 26. Example Product Manager OKR • Implement new 360-degree product planning process – Divide exact clear roles between sales, marketing, design and development – Integrate user testing into planning phase – Integrate user testing into testing phase – Decide on input methods from design and development back into product management weekdone.com 26
  27. 27. Got questions? Feel free to get in touch with me: Jüri Kaljundi CEO & Co-founder, Weekdone E-mail: jk@weekdone.com weekdone.com 27

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