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.
OKR - Objectives and Key Results Methodology, used by Google, LinkedIn and others
1. 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
2. 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.
Performance
Growth
Engagement
Revenue
"It's not a key result
unless it has a number."
Marissa Mayer
3. objectives at
any time
3
key results
per objective
3
Set quarterly
Reviewed
monthly or weekly
Public and online
in front of all
employees
Sweet spot to
achieve % of
the results
70%
# Best Practices
4. 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
6. weekdone.com
Use Weekdone to set and monitor OKR's
“If you are using an OKR's based management approach,
Weekdone is the best tool I've seen for documenting
what the objectives are and keeping them all aligned to
each other. It's a no brainer!”
Lyle Stevens
co-founder &
CEO of Mavrck
7. employees understand
their company’s
strategy and direction
employees say their
manager clearly
communicates goals and
objectives
of workers feel
engaged by their
jobs
are satisfied with their
organization’s system for
managing their
performance
14% 58% 13% 47%
8. * 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 Pincus
CEO 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
9. 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 Weiner
CEO of Linkedin
Angus Davis
CEO of Swipely
“
“
10. Increase our recurring
revenue
• 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
11. weekdone.com
Use Weekdone to set and monitor OKR's
“If you are using an OKR's based management approach,
Weekdone is the best tool I've seen for documenting
what the objectives are and keeping them all aligned to
each other. It's a no brainer!”
Lyle Stevens
co-founder &
CEO of Mavrck
12. RELATED CONTENT
HOW TO SET SMART
GOALS
10 WAYS TO IMPROVE
INTERNAL
COMMUNICATION
9 UNIQUE TRAITS OF
HIGH-PERFORMANCE
TEAMS
ways
to improve
internal
communication
Practical tips to:
Increase employee engagement
Improve company competitiveness
Build stronger teams
weekdone.com
HOW TO SET
S M A R T
GOALS