Are you looking for a way to set and track goals for your team? OKRs (Objectives and Key Results) could be the answer. OKRs have been used by companies to help their teams stay focused and achieve their goals. Here we will explore the basics of OKRs and how they can help you and your team stay on track and reach your goals. You will also get access to our free OKR template.
John Doerr, a venture capitalist from Silicon Valley, is credited with first introducing OKRs in the late 1970s. He introduced the concept to Intel and Google, and it quickly became an essential tool for both companies. Today, many other organizations, including Amazon, Spotify, Twitter and us at Slite use OKRs to set goals, align teams, and measure progress.
OKRs are a goal-setting system used by businesses to measure and track performance. They are also critical for strategic planning.
OKRs are used to set measurable and achievable goals that align with an organization’s objectives and key results:
OKRs help to ensure that everyone involved with the organization is on the same page and working towards the same goals. They help to keep teams motivated and accountable, as well as help to track progress and ensure that goals are being met. OKRs provide a framework.
Additionally, OKRs can be used to measure the success of business initiatives, as well as to identify areas of improvement. They can drive innovation and foster collaboration.
An OKR template is an excellent way for teams to develop and track goals. It provides a structure for setting and measuring progress against them. The OKR templates include fields for setting objectives, identifying key results, assigning team members and roles, and tracking progression. It also allows for setting deadlines for each objective and for reporting.
An OKR template is an effective way to develop and monitor goals.
To write good OKRs we recommend following these 7 steps:
Identifying your company's goals before setting OKR's is essential to ensure success.
First, it is important to establish what the company's overall mission is. This will provide a basis for the goals that need to be set and ensure they are in line with the company's mission.
Next, the company should identify what they want to accomplish in the next year, quarter, or other designated timeline. OKRs will serve these goals and help you build a strategic planning.
When setting relevant objectives for OKRs, it is important to consider the current business environment, the company’s goals you've identified previously, and the resources available.
The objectives should be SMART - specific, measurable, achievable, realistic, and time-bound - and should also be challenging enough to stretch the team.
When setting measurable and quantifiable key results for OKRs, it is important to consider the timeline, the desired outcome, and the resources available.
It is best to break down the overall objective into measurable chunks that can be tracked over the course of the timeline. This can include things such as the number of sales in a given period, the number of social media followers, or the number of new customers acquired.
It is also important to consider the resources available for achieving the objectives and to set realistic, achievable goals. For example, if the objective is to increase the number of customers, it should be broken down into specific steps like outreach, marketing, and promotion, each with their own measurable goals.
Once the objectives are broken down, measurable and quantifiable key results can be set that will help track progression and quantify success.
Make sure that all of the objectives and key results defined are clear and aligned with the goals of the organization. Gather your team to ensure everyone understands what needs to be achieved and how it will be measured.
Documenting OKRs is an important part of successfully achieving goals. When documenting OKRs, it is important to be specific. You can use our OKR template or create your own spreadsheet that outlines the objectives, key results, and timeline for each OKR.
This will make it easier for everyone involved to track progress and ensure that the desired results are achieved. Additionally, document any conversations, decisions, and feedback related to each goal for better communication, clarity, and transparency.
Hint: Slite is the perfect tool for this.
It is important to track the progress of the objectives and key results (OKRs) in order to measure success. This should be done by setting up a system of tracking progress on the OKRs and then assessing progress at least once a month.
This tracking system should include regular check-ins with team members and stakeholders to ensure that goals are being met. Additionally, it should be used to track progress on individual objectives as well as overall OKR goals.
To make OKRs tracking easier, you should document everything (see step #6). Tools like Slite can help to provide clarity into OKRs to your team.
Finally, it is important to provide frequent and helpful feedback to employees and stakeholders to ensure that everyone is on the same page and working towards the same goal.
When reviewing and adjusting OKRs, it is important to take a holistic approach. Begin the review process by looking at the goals that were set and the progress that has been made in the past period. This will help to identify any areas where objectives have been met or exceeded, as well as any areas that may need more focus.
After assessing the current progress, it is important to consider any changes in the environment, resources, or strategies that may affect the success of the objectives. Once any changes have been identified, the objectives should be adjusted accordingly (step #2).
Once the objectives are adjusted, it is important to review and adjust the key results (step #3) and update your OKR templates accordingly.
Looking for some inspiration to set your own OKRs? We got you covered!
Here are 5 some good OKR examples:
Objective: Increase net promoter score (NPS) from x to y over the next semester
Objective: Double MRR over the next year
Objective: Increase user engagement by x% by the end of Q2
Objective: Enhance employee engagement by x% by the end of Q2
Objective: Increase sales revenue by x% year-over-year
Are you ready to get started? It can be intimidating to know where to begin, and many teams struggle to work on OKRs collaboratively.
That's where Slite comes in. We're passionate about helping teams work together seamlessly and achieve their goals. We've got an OKR template available for you. It looks great across all devices, is easy to customize and can be worked on collaboratively with ease. Give it a try!