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Introduction to OKR - Objectives and Key Results

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Weekdone.com
Weekdone.com

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.

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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 Results can be based on The best practice of setting and communicating company, team and employee objectives and measuring their progress based on achieved results. 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. * 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 princi- ple that keeps people focused on the three things that matter — not the 10.” 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 organization that ‘this matters,’” Weiner says. “The right way to look at OKRs is a way to communicate so there’s clarity of pur- pose.” “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." Weekdone brings OKR’s to the digital age. It seamlessly combines them with best practice reporting methods, most notably the PPP’s aka the Plans, Progress and Problems. https://weekdone.com 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% 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) John Doerr Marc Pincus CEO of Zynga Jeff Weiner CEO of Linkedin Angus Davis CEO of Swipely 1970’s 1999 2014+ $4.2 mln$ $ $In an organization of 1000 employees, moving a workforce from low to high engagement can have an impact of over Implementing 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. “ “ “ “ Weekdone - building great companies Objectives and Key Results Company Team Personal Performance Growth Engagement Revenue "It's not a key result unless it has a number." Marissa Meyer # History # Best Practices # Famous Users # Examples of good OKR’s # Online tools for OKR reporting 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%

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Introduction to OKR - Objectives and Key Results

  • 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 Results can be based on The best practice of setting and communicating company, team and employee objectives and measuring their progress based on achieved results. 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. * 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 princi- ple that keeps people focused on the three things that matter — not the 10.” 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 organization that ‘this matters,’” Weiner says. “The right way to look at OKRs is a way to communicate so there’s clarity of pur- pose.” “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." Weekdone brings OKR’s to the digital age. It seamlessly combines them with best practice reporting methods, most notably the PPP’s aka the Plans, Progress and Problems. https://weekdone.com 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% 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) John Doerr Marc Pincus CEO of Zynga Jeff Weiner CEO of Linkedin Angus Davis CEO of Swipely 1970’s 1999 2014+ $4.2 mln$ $ $In an organization of 1000 employees, moving a workforce from low to high engagement can have an impact of over Implementing 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. “ “ “ “ Weekdone - building great companies Objectives and Key Results Company Team Personal Performance Growth Engagement Revenue "It's not a key result unless it has a number." Marissa Meyer # History # Best Practices # Famous Users # Examples of good OKR’s # Online tools for OKR reporting 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%