Getting Started With OKRs (Objective Key Results)
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The document provides an overview of Objectives and Key Results (OKRs), including: - OKRs are goal-setting frameworks used by large, fast-growing companies consisting of objectives (what to achieve) and key results (how to measure achievement). - OKRs originated from concepts like management by objectives and SMART goals, and were popularized by companies like Intel and Google. - Effective OKRs are focused, align teams/goals, have commitment to tracking results, and stretch goals. Regular check-ins help with transparency and progress. - The document outlines best practices for writing OKRs and implementing them in organizations through quarterly and annual goal-setting.
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Getting Started With OKRs (Objective Key Results)
- 2. WTF Are OKRs? Objectives Key Results is a goal setting framework that is used by some of the world’s largest and fastest growing companies. themoonshotplanner.com
- 3. The OKR Formula It’s actually quite simple 😳. I will ________, as measured by __________. themoonshotplanner.com
- 4. The OKR Formula It’s actually quite simple 😳. I will (Objective), as measured by (Key Result). themoonshotplanner.com
- 5. The OKR Formula Objective: Are what we want to achieve.They are aspirational, significant and concrete. Key Result: How will we know if we are getting there.They have a few important traits; key results are simple, are completed within a certain timeframe, ambitious and quantifiable. themoonshotplanner.com
- 6. Basic OKR Guidelines Make Them Manageable: ➔ Set 4-5 objectives. ➔ Each objective has no more than 4 key results. Make Them Measurable: ➔ Key results must be measurable, quantifiable and have specific targets. Make Them Time-Bound: ➔ Company OKRs can be set annually. Team OKRs are set quarterly. Make Them Transparent: ➔ Shared with the entire company. ➔ Weekly check-ins on progress and alignment. themoonshotplanner.com
- 7. OKR History & Timeline 1970s The Birth of OKRs Andy Grove, who later became Intel’s long-serving CEO, used the concept OKRs to underpin this transition with the development of the 8080 8-bit microprocessor, challenging his teams to innovate at breakneck speeds. 1950s Drucker’s MBO Drucker’s approach took root at the dawn of the Information Age, promoting flexibility, knowledge work and decentralized teams, empowering teams to work autonomously, with a focus on innovation. 1999s Google & OKRs As an investor at Kleiner Perkins, John Doerr advised Google co- founders Sergey Brin and Larry Page to adopt OKRs when their 100-person team was on the cusp of transforming how the world finds and accesses information on the internet. 1980s SMART Goals SMART goals (Specific, Measurable, Achievable, Results- focused, and Time-bound), developed by George T. Doran, Washington Water Power Company, came along in the 1980s. themoonshotplanner.com
- 8. OKR - F.A.C.T.S. FOCUS ALIGNMENT COMMITMENT TRACKING STRETCHING OKRs work because you only set and focus on a handful. Employees, teams and initiatives are aligned with company’s goals Planning, resources and effort are put against achieving these OKRs. Measuring success is completely objective. Set objectives and key results so it’s challenging to achieve them. themoonshotplanner.com
- 9. OKR - Other Benefits Empowerment: OKRs are set bi-directionally, top-down and bottom up. This means that every individual is a stakeholder in the outcome - for themselves, their team, their function and their organization. Agile: The OKR goal-setting framework gives you the flexibility to iterate your strategy and direction faster than traditional goal-setting approaches. Transparency: With OKRs, there are no secrets. Top-down and bottom-up goal alignment is needed to achieve a concreted outcome. themoonshotplanner.com
- 10. OKRs vs. KPIs OKRs KPIs Ambitious Attainable Qualitative Quantitative Motivate Evaluate Grow Sustain A Few Many OKRs have a soul and directionality to them...Since KPIs are measures, they make great key results. ~ Measure What Matters themoonshotplanner.com
- 11. OKR Grading ➔ OKRs are usually graded on a scale of 0.0 to 1.0, with 1.0 meaning the objective was fully achieved. ➔ Grading can be binary or a scale; 1.0 if you achieved your objective or 0.0 if you didn’t or based on the progress made on achieving your key results. ➔ 70% (or 0.7) is the sweet spot. If results are consistently much higher or much lower It may mean that you need stretch harder or rethink your OKRs. Failed to make real progress We made progress but fell short of completion. We delivered themoonshotplanner.com
- 12. OKR Implementation 1. Create annual goals and break them into quarterly objectives. 2. Set your top organizational objectives first. 3. Set department and team objectives themoonshotplanner.co m
- 13. How To Write OKRs - Best Practice MEASURABLE REAL TIME ALIGNED TRANSPARENT RESULTS ORIENTED themoonshotplanner.com
- 14. John Doerr’s Classic OKR Example Source: Perdoo