What is OKR?
Objectives and key results, also called OKRs, are a way of setting goals for an organization or a team. In other words, it is executing a strategy in order to achieve the task in a planned, limited time. With its features OKR increases the motivation of employees and enables them to focus. It provides control and helps to complete the work on time. Shortly, it helps to direct and manage the resources in the most efficient way. In the following sections we will take a look at the most relevant OKR examples for different departments.
How can you determine objectives and key results?
Objectives include the long term goals which are chosen by the Why 5 analysis. Moreover, the manager determines main problems and objectives of the company. Thus, it is easier for employees to develop them. Objectives should be specific, measurable, achievable and time-bound. You should define 2-5 objectives. Otherwise, it will not be possible for people to keep all the objectives in mind. Then, company should set key results that have to be difficult, but not impossible, qualitative and achievable. Easy-to-reach solutions will reduce the workforce of employees and will not trigger development. Likewise, almost impossible to reach key results will cause employees to give up. For these reasons, the key results should be difficult.
Here are some good and bad examples of OKRs (with corrections).
Growing Company – OKR Examples
Introduce Your Company to Other Businesses
- Move site to the top 3 by keyword studies
- Be more active on social media platforms like LinkedIn to highlight achievements
- Prepare newsletter weekly
The OKR exemplified above is not a good one. Why? The objective is not clear enough, so the purpose is not fully understood and not all key results carry numerical data, which is basically the definition of KR. In order to make this a better example:
- The phrase in the objective ‘Other Businesses ‘ should be specified as ‘Competitive companies’
- Supporting the subjective saying ‘Being more active on social media platforms’ with numerical data would be better. To illustrate: “Be more active by sharing 4 posts in a week on social media platforms like LinkedIn to highlight achievements.”
Product Marketing – OKR Examples
Launch the New Software Product
- Give 20 prospective buyers 1 month free use
- Use e-mail marketing during pre-pre-launch to get highest click-minimum 35% higher than before
- Finalize feature briefs and sales enablements of the new product and add them to social platforms and website before pre-launch
The third key result is not based on quantity. To change it to a good key result:
- Finalize at least 70% of feature briefs and sales enablements of the new product and add them to social platforms and website before pre-launch.
Online Marketing – OKR Examples
Fix App’s Usability Issues
- Make application 40% faster with every update
- Get usability score above 85% on UX mockups from 100 trial
- Get feedback from people who have done trials
Getting feedback from people who have done trials means 100% success. However, hundred percent feedback is not a realistic KR. Setting a lower bar of 70% helps that key result to be more realistic. Hence, the better result becomes ‘Get feedback from 70% of people who have done trials’ .
- Add online help, if it is already available, increase the response speed by 45%
- Use platforms to create mobile version and check if your website is mobile-friendly
- Get 8/10 score of the usability criteria
- Reduce image sizes and set a boundary that maximum width does not surpass 75% of boundary
Personal Finance – OKR Examples
Improve Financial Reporting
- Employment of 3 new accountants
- The deficiencies in the reports should be corrected in consultation with the departments monthly
- 100% interactive income tax
HR-Human Resources – OKR Examples
Increase the Privileges of an Average Employee
- Increasing the concession period of the contracts with the employees from 2 to 3 years
- Increase positive feedback by 20% in anonymous employee surveys
- Increase promotion rate to 25%
Increase Employee Productivity
- Absenteeism 20% reduction
- 80% completion of each employee’s KPI / OKR / MBO
- 100% attendance to weekly employee development audit meetings