Objectives & Key Results (OKRs)
Table of Contents
1. What are OKRs
OKRs stand for objectives and key results. Put simply, objectives describe where you’re going. Key results are how you get there.
| Objectives | Key Results |
|---|---|
| Describe where you're going or | Describe how you'll get there, or |
| what you want to accomplished | the actions you'll take to |
| accomplish an objective | |
| Aren't necessarily time-bounded | Time-bounded - should be |
| - can rollover quarter to quarter | completed by the end of the |
| or even year to year | cycle |
| Concrete & action-oriented, but | Concrete and measurable - at the |
| may or may not be objectively | end of the period, you must be |
| measurable | able to say "I did or did not |
| accomplish this result" | |
| Inspirational - should connect | Constantly being evaluated and |
| back to your overall mission and | evolved throughout the cycle |
| why you do what you do |
1.1. OKR examples
1.1.1. Become a company that attracts top talent
- Redeisgn our company website and job descriptions to better represent our ambitions and culture
- Boost PR and social media presence of our leadership team
- Make ongoing recruitment a top priority for the leadership team
- Hire a head of HR
- Create ongoing mentorship and career growth opportunities within the company
1.1.2. Improve 1-month customer retention rate by 20%
- Conduct 25 interviews with lapsed customers to identify current pain points
- Clarify value proposition on main landing page
- Revamp email welcome series
- Create new in-app onboarding experience
- Identify & double down on marketing channels with best retention rate
1.1.3. Self-publish a novel
- Write 1,000 words a day
- Find an editor
- Identify the best self-publishing platform
- Build a personal brand on social media
1.2. 7 Key Tenets for Making OKRs Work
1.2.1. Less is more
3-5 key results per objective. Any more than that, and it dulls the clarity and focus that OKRs provide.
1.2.2. Set goals from the bottom up
1.2.3. No dictating
1.2.4. Stay flexible
1.2.5. Set "stretched" goals
You shouldn't achieve 100% of your OKRs. OKRs should stretch you beyond what you're currently capable of. If a subset of your OKRs makes you feel uncomfortable, you're doing it right.