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Do you know what's the one thing in common in Google, Linkedin, Intel, Zynga, Oracle, Twitter and Sears? What's behind the success of aligning their people and teams to work as one towards set goals? It's the magical acronym OKR – Objectives and Key Results. All of them use it and love it. Today we're introducing OKR support also in Weekdone team collaboration software. OKR is a simple process of setting company, team and personal goals and connecting each goal with 3-4 measurable results. As you achieve those results, the whole objective gets marked done. Implemented initially in 1970's by the President of Intel Andy Grove it later spread across many tech companies. Nowadays it's used by teams and whole companies from SME's to Fortune 500. If there's one management practice that's spreading like wildfire and loved by all, it's Objectives and Key Results. It's quick and easy. It makes your company more successful. Why not try it out with your team? The slides tell you the whole story of OKR's, their history, best practices and what leaders using them think of them. Want to learn more? Go read the OKR section of Weekdone Academy resources page (https://weekdone.com/resources/). You'll find sample OKR templates, OKR examples and helpful links and videos.
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Objectives:• ambitious• qualitative• time bound• actionable by the team
Key Results:• measurable and quantifiable• make the objective achievable• lead to objective grading• difficult, but not impossible
The best practice of setting and communicating company, team and employee objectives and measuring their progress based on achieved results.
Objectives and Key Results
Company
Team
Personal
Results can be based onImplementing OKR’s:1) List ~3 objectives you want to strive for on each level.2) For each objective, list 3-4 key results to be achieved.3) Communicate objectives and key results to everyone.4) People regularly update each result on a 0-100% scale.5) When objective’s results reach 70-80%, consider it done.6) Review OKR’s regularly and set new ones.
PerformanceGrowth
EngagementRevenue
"It's not a key result unless it has a number."
Marissa Mayer
objectives atany time
3key results
per objective
3Set quarterly
�
Reviewedmonthly or weekly
�Public and online
in front of all employees
�Sweet spot toachieve % ofthe results
70%
# Best Practices
First developed and implemented by Andrew Grove, President, at Intel.Andy Grove’s introduction to OKR’s in “High Output Management”:
Where do I want to go? How will I know I’m getting there?
Popularized by John Doerr, VC at Kleiner Perkins Caufield & Byers to his portfolio companies. In 1999 told Larry, Sergey and team at Google to implement it. Used at Google successfully to this day.
1970’s
1999
2014+
# History
employees understandtheir company’s
strategy and direction
employees say their manager clearly
communicates goals and objectives
of workers feel engaged by their
jobs
are satisfied with theirorganization’s system for
managing their performance
14% 58% 13% 47%
* Goals must be supported by the entire organization.* Goals must be measurable or have quantifiable targets.* Goals should be aggressive yet realistic.
“We put the whole company on that, so everyone knows their O.K.R.’s. And that is a good, simple organizing prin-ciple that keeps people focused on the three things that
matter — not the 10.”
John Doerr
Mark PincusCEO of Zynga
““
$4.2 mln$ $ $In an organization of 1000 employees, moving a workforce from low to high engagement can have an impact of over
OKRs should become more important the more senior an employee becomes. When you’re in a leadership position, “You are sending the signal to the rest of the organiza-tion that ‘this matters,’” Weiner says.
“The right way to look at OKRs is a way to communicate so there’s clarity of purpose.” “Having public goals forces different types of thinking around how people ask for help from others,” Davis says.“OKRs are not designed to be used as a weapon against your employees,” he says. “They are a tool for motivating and aligning people to work together. They increase transparency, accountability and empowerment."
Jeff WeinerCEO of Linkedin
Angus DavisCEO of Swipely
“
“
Increase our recurringrevenue
• The share of monthly sub-scriptions increased to 85%
• Average subscription size of at least $295 per month
• Reduce churn to less than 1% monthly
Improve internal employee engagement
• Average weekly satisfaction score of at least 4.8 points
• Conduct weekly Fun Fridays all-hands meetings with an external speaker
• Implement OKR’s in all teams and departments by January 31st
Implement user-testing process
• Conduct at least 4 face to face testing sessions per week
• Receive at least 15 video interviews per month from Us-ertesting.com
• Make sure at least 80% of people interviewed are from our core target group (Direc-tors, VP’s, CEO’s)
# Examples of good OKR’s
Weekdone brings OKR’s to the digital age. It seamlesslycombines them with best practice reporting methods, most notably the PPP’s aka the Plans, Progress and Problems.
https://weekdone.com
Weekdone - building great companies
# Online tools for OKR reporting
