Objective (O)
- Definition: A clear, qualitative goal.
- Best Practices:
- Inspiring: Motivate the team.
- Time-bound: Typically quarterly or yearly.
- Simple & Clear: No jargon.
- Aligned: Matches company goals.
Key Results (KRs)
- Definition: Quantitative measures for the objective.
- Best Practices:
- Measurable: Quantifiable outcomes.
- Time-bound: Set deadlines.
- Challenging but Achievable: Ambitious but realistic.
- Limited Number: 2-5 per objective.
Supporting Key Results (SKRs)
- Definition: Targets/steps supporting KRs.
- Best Practices:
- Directly Tied to KRs: Align with main KR.
- Actionable: Clear steps.
- Limited Number: Don’t over-complicate.
- Quantifiable: Measurable.
- Reviewed with KRs: Check-in regularly.
Steps to Implement OKRs
- Define the Objective: Start broad.
- Determine Key Results: Quantify progress.
- Set Clear Deadlines: Typically quarterly.
- Check-in Regularly: Monitor monthly.
- Grade OKRs: Score 0.0 to 1.0 based on achievement.
- Reflect and Adjust: Discuss and refine.
Common Pitfalls
- Setting too many OKRs.
- Not revisiting OKRs.
- Making KRs too easy.
- Confusing KRs with tasks.
Tips for Success
- Alignment: Top to bottom.
- Collaboration: Engage teams in setting.
- Transparency: Share across the organization.
- Feedback Loop: Encourage refinements.
- Adaptability: Adjust to changing business climates.
Example with SKRs
Objective: Increase website traffic.
KR: Increase monthly unique visitors by 25% in Q2.
SKRs:
- Launch 3 new blog posts weekly.
- Collaborate with 2 influencers monthly.
- Post on social media twice daily.
- Optimize SEO with updated keywords.