WTF is OKR?

It's not an airport code, but it can take you places.

OKRs are a clever, effective way for organisations to measure & improve performance. Google is the best-known OKR-based organisation, having adopted the approach over 20 years ago.

OKRs follow a simple format:

We will [Objective], as measured by [Key Result].

For example:

I will become a better athlete, as measured by running 10 kilometres per week for 2 months.

It’s simple, but not easy.

Let’s dive into the 3 key components of OKRs.

There are 3 parts to OKR - your North Star, your Everest & your signposts.

OKRs in 3 parts

Part 0 - Your Vision

Don't bother with OKRs unless you have a clear Vision for your organisation. A vision is an inspirational view of what your organisation looks like in the future.

Your Vision ultimately guides all decision-making. For help unpacking your Vision, check out Start with Why - Simon Sinek.

Part 1 - Memorable Objectives

Objectives must inspire action. They need to be memorable so they stick in people’s minds. They’re a constant reference point for what to do next.

Don’t worry about detail at this point. Your Key Results will take care of that.

When developing an Objective, think big. You want to motivate your teams.

Ever heard the term ‘Big Hairy Audacious Goal? PERFECT for an Objective. Write it down.

Part 2 – Quantifiable Key Results

Key Results must be measurable. They ground your big Objective in reality. If the Objective is the summit, the KRs are the signposts along the way that tell you you’re on the right track.

❝

"If it doesn’t have a number, it isn’t a Key Result”.

Marissa Mayer, former Yahoo! CEO & Google exec

Each Objective should have 3-5 Key Results (less is always better). There can be no grey area once your KRs are defined.

It’s as simple as “Did we Do it?” Yes or No.

With a clear vision, some inspirational objectives and measurable key results, teams can achieve almost anything.

How to turn your team’s Strategy into Action

Want to see how leading teams execute on Strategy using OKR?

Join our virtual OKR Showcase

 November 23rd at 11am AEST.

Places are limited so don’t miss it!

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