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MindMap Gallery What are OKRs and how to formulate them correctly

What are OKRs and how to formulate them correctly

How to correctly formulate and implement the OKR management method? The OKR work method refers to Objectives and Key Results. This article focuses on preparing for departure, creating effective OKR, OKR formulation process, combining OKR to drive the achievement of the battle path, using OKR for daily management, and making OKR feasible. Keep waiting for content points, everyone is welcome to learn.

Edited at 2023-02-15 22:23:46

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What are OKRs and how to formulate them correctly

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What are OKRs and how to formulate them correctly?

OKR

Introduction to OKRs

The origin of management by objectives

"MBO (management by objectives) management by objectives"

Focus on personal achievement

Not the overall corporate goal

Misunderstandings about management by objectives

top down

Establish goals on an annual basis

After being formulated, it was "shelved"

What is a successful MBO?

what is my goal

How do I pace myself to make sure I'm on track towards my goals?

Lead to KR (key results)

OKR definition

OKR is a set of rigorous thinking framework and continuous discipline requirements designed to ensure that employees work closely together and focus their energy on measurable contributions that can promote organizational growth.

What is a rigorous thinking framework

What are the ongoing disciplinary requirements?

Refresh OKP on a quarterly (or other pre-specified period) basis

Carefully confirm the results achieved

result-oriented

Ensure employees work closely together

focus

Make a measurable contribution

Promote organizational growth

what is goal

A succinct description of the qualitative pursuit that drives an organization in a desired direction - what to do

Time limit required

Encouraging

Can inspire the team to reach consensus

What are key results

Quantitative description, used to measure the achievement of set goals - what you want to do

Formulation method

digital quantification

Balance the difficulty of achieving KR with the potential to stimulate the relationship between the two

Issues to consider

At which level do you implement OKRs (company level or business unit level)

Who will sponsor this project?

What kr types are there to choose from?

How to ensure OKRs are aligned with company strategy and vision

How to deliver timely results to ensure rapid feedback and learning

Challenges facing organizations

Challenge 1: Strategy Execution

Myth 1: Strategy execution = strategic consistency

Myth 2: Execution = strictly following the plan

Myth 3: Repeated preaching = understanding

Myth 4: Performance culture drives strategy execution

Misunderstanding 5: Zhanyue execution should be from top to bottom

Challenge 2: Organizational restructuring under the new situation

Career development expectations of those born in the 1980s

A work environment that enables continuous learning

A meaningful and purposeful work experience

A dynamic and valuable career path

Challenge 3: Continued growth

Reasons why companies struggle to grow

Too complex (too many concepts for employees to understand)

Fear of making mistakes culture (overly focused on performance)

difficult to focus

Challenge 4: The threat of disruptive innovation

Disruptive innovation concept

The process of small players successfully challenging industry giants with fewer resources

Challenge 5: Employee Engagement

What Employee Engagement Is Not

Engagement does not mean employee happiness

Employees have an emotional commitment to the organization and its goals. This emotional commitment means that engaged employees really care about their work and the company. They are not just looking for a salary or a promotion, but work passionately towards organizational goals.

The benefits of OKR

Easy to understand, enhances acceptance and willingness to use

Faster pace of development, improved agility and ability to quickly respond to changes

Focus your energy on the most important things

Promote horizontal alignment across departments through openness and transparency

Be more responsible for goals from the bottom up

OKR promotes forward thinking

Ready to go

Why implement OKRs

benefit

Can implement leadership development programs

Can implement management by objectives

Can implement a performance management plan

A balanced scorecard can be implemented

Supervisor support: a crucial part of the OKR implementation process

Connect OKRs to something the manager cares about

Provide OKR training

Involve your supervisor in the OKR implementation process

Implement OKRs at that level

Implemented only at company level

Need support from company executives

Conducted both at corporate level and business unit/team level

Implement OKRs throughout the organization

Pilot only at business unit/team level

Implement OKRs in projects

OKR implementation plan

planning stage

Executive support for OKRs

Answer a question: Why should we implement OKRs and why should we implement them now?

Create an implementation plan

Implementation phase

Provide OKR training

Create company-level OKRs

Several ways to create small teams

Collect employee feedback through questionnaires and use them in subsequent exclusive seminars

Executive interviews

Explain OKRs company-wide

Track OKRs

Report results at the end of quarter

OKR framework

mission

What is the meaning of our existence

effective mission statement

easy to understand

inspire desire for change

long term

Easy to understand and communicate

Tool template

Vision

Use words to outline a blueprint for the future

effective vision statement

Quantitative and time-constrained

concise

Aligned with mission

Verifiable

feasible

Encouraging

strategy

Focus and priorities

manpower

what we sell

technology

Who are our customers

finance

how we sell

society/culture

what drives us forward

Target

Focus on recent achievements

key results

How to know how far we are towards our goals

Create effective OKRs

The difference between OKRs and health metrics

How to Score OKRs

OKR setting frequency

How many OKRs are appropriate?

How to formulate OKR specifically

Create a good goal

step

Have commercial value

inspiring

Quarterly cycle

achievable

Within the team’s control

qualitative

Most successful is a qualitative description

Skill

avoid standing still

Clarify questions promptly

Use positive language to express goals

Provide simple guidance

Start with action verbs

what's holding you back

Use plain language

Goal description

(what we want to do)

Why goals are important

How it relates to company goals and what specific dependencies it has

What internal customers does it support or rely on?

Essential characteristics of a good KR

(How do we know if we have achieved our goal)

Quantitative

challenging

specific

Customized

progress based

Consistent with it up, down, left, and right

Drive the right behavior

Tips for formulating KR

Only write key items instead of listing them all

Based on results, not tasks

Use positive language to describe

keep it simple and clear

consider all possibilities

Be sure to designate a responsible person

Types of KR

baseline type

There is no previous metric data related to wooden plaques

For example: Obtain baseline data of electronic volume redemption rate

Positive metric

When you need to set up a more-the-better metric

For example: Revenue per email increased by 10%

negative metric

When you need to set up a less-is-more metric

Example: Reduce invoice processing time from 5 weeks to 2 weeks

range type

When you need to set a range for a measurement item

For example: Maintain consultant utilization between 70% and 80%

Milestone

When the result cannot be expressed by a metric value

For example: publish push notification function

OKR scoring

KR rating

0.3 points: The extent to which we know it can definitely be achieved, with little or no help.

1 point: The result far exceeds expectations and is almost impossible to achieve.

0.7 points: This is the level we hope to achieve. Although it is difficult, it can be achieved.

0 points: No progress

Mid-quarter review

What an OKR score should ideally look like

Whether goals should be scored and rated

OKR setting frequency

fixed period

OKR development process

CRAFT

create

Draft 1-3 challenging key results for 1-3 goals

Tip: Work as a small team, such as a "dynamic duo"

Analyze your competitive environment

Take a closer look at your strategy

Determine your core competencies

refine

Submit the OKR draft to the entire team and refresh it through workshops

Skills: operate in a large team and determine the KR scoring method

align

Identify the relationship and jointly define KR

Skills, discuss face-to-face with other teams and agree on dependencies, and refresh KR accordingly

finalize

Submit OKR to superior for approval

Tip: Explain the OKR process and output during the superior review

How did you get this OKR?

Your efforts in drafting OKRs

Cooperation agreements you reach with other dependent teams

transmit

Communicate and publish OKRs

Tips: Put OKRs in a centralized location and communicate OKRs in all-staff and team meetings

Combine OKR to drive strategy achievement

Case study of division of labor to repair roof

What happens when people fail to see how they can contribute to an overall goal. Good intentions do not always lead to good deeds. There is no overall strategy to know what we are working towards. This leads to chaotic actions and therefore inefficiency in achieving the goal. As a result Not good

What are Connected OKRs

Create a set of OKRs within the company and align them with the highest-level OKRs (the highest level can be the company or the business unit, depending on which level you implement OKRs), thereby highlighting the uniqueness of the enterprise from team to individual contribute

How to connect OKRs

Whether to implement quickly

Do leaders support OKRs?

Do company-level OKRs reflect clear and unambiguous strategic demands?

Regardless of initial results, will we stick with OKRs to manage our business?

Advantages when OKRs are linked to individuals

Enhance OKR awareness

Increase acceptance and support

Drive everyone in the company to have an in-depth understanding of OKR

Improve engagement

The connection between employee efforts and company goals

develop skills

Disadvantages when OKRs are linked to individuals

weaken engagement

Confusion about various incentive mechanisms

lack of teamwork

Make OKR into a to-do list

No added value

Determine the number of OKRs

Principle: Less is more, be as focused as possible

Get your team ready to connect

Make sure everyone understands the top-level OKRs

Pass the microphone game

Understand the how and why of company OKRs

The key to connection is influence

Subtopic 1

You need to study the company OKR and answer the following questions

What OKRs can we influence in the company?

and how it affects

What OKRs can we help advance?

Crowdfunding

Number of people: 2-4 people

Definition: Bringing all teams together at one time to coordinate OKRs

standard agenda

Leaders briefly describe your OKRs

OKR knowledge review

Demo Company OKRs

Draft OKRs

Publish OKRs

Communicate ideas horizontally

OKR rework

Post again

Subtopic 3

Aligned

(Those who share the same desires will win)

vertical alignment

The goal is indeed to be implemented from top to bottom, but in the process of vertical connection, knowledge and experience flow back from the bottom to the top, forming a never-ending cycle.

Horizontal alignment

Subtopic 1

Avoid independence from each other and do their own thing

Confirm consistency of linked OKRs

OKR value to the company

Let the company be more focused and focus on what really matters

By connecting OKRs, all participants can demonstrate their contribution to the company's overall bigger picture.

Target coverage

Vertical alignment vs. horizontal alignment

Reasonable indicator scoring standards

strategic impact

Follow any rules you have established

Use OKR for daily management

Case introduction (Praying to buy lottery tickets, but never taking action)

You must review your OKR execution results regularly and regularly

key action

weekly meeting

Purpose

suggestion

Mid-quarter review

The theme is consistent with the weekly meeting

status confirmation

quarterly evaluation

To what extent

How to achieve this level

How to plan and run a quarterly review

Refresh OKRs at the end of the quarter

Subtopic 1

At the end of the quarter, score OKRs for the quarter and formulate OKRs for the next quarter.

Subtopic 3

OKR related software

Determine your needs for software solutions

How many people use OKR tools?

Do you want the OKR tool to be designed primarily for executives, teams, or individuals?

Do you score OKRs based on predictive data or latest progress information?

Do you want gaming elements in your software?

Should your OKR solutions be reviewed on a weekly basis?

20 questions about OKR software

1. Does the software book support bottom-up formulation of OKRs and top-down connection of OKRs?

2.Does OKR support cross-team horizontal alignment? Can cross-team dependencies be identified? In other words, can OKR only be connected with its upper-level OKR in the system?

3-20

Make OKRs sustainable

Don’t treat OKR as a one-time project

The difference between projects and OKRs

OKRs have no end date

Who should be responsible for driving OKRs

Senior sponsors are most important

OKR and performance evaluation

Poor performance evaluation

Performance reviews only focus on the past

Reviews are susceptible to bias

Performance reviews are a waste of time

After evaluation is bound to OKR, it will become a heavy burden for it

How to follow up on your performance achievements

What are the company’s OKRs?

Which OKR did you contribute the most to?

how did you do it

Which OKRs on your team did you help develop?

You contributed to the team’s OKRs

how you contributed

How did you apply what you learned from last quarter’s OKRs to this progress?

OKR and incentives

Should incentives be linked to KR indicators?

benefit

Honor perception is more fair

Focus on target with laser-like precision

Simple

Disadvantages

heavy baggage

Reduce the likelihood of proactively taking on more long-term work

May not match current business realities

Ten key considerations for OKR (before formulation)

Help everyone understand why OKR should be implemented

Get executive sponsorship

Provide OKR training

Make sure there is a clear strategy

OBJECTIVE should be qualitative rather than quantitative

Avoid all OKRs being formulated from the top down

Solve a series of problems on KR

Too many items

low quality

KR are all milestone types

Use a consistent scoring system

Ten key considerations for OKR (after formulation)

Avoid the phenomenon of shelving it after it is formulated

Joint OKR to ensure consistency with upper-level organizations

Misunderstandings in OKR development and the help consultants can bring you

The shortcomings of team leaders setting OKRs unilaterally

Roles quickly blur

We all fall victim to unconscious bias

As a leader and arbiter of key decisions, your team receives a lot of valuable input

Providing experience and consultation as a consultant

OKR experience

Confirm the availability of a range of skills

Knowledge inheritance

cultural fit