Everyone in an organisation.
A management technique for setting overall strategic objectives and the related cascading supporting objectives and tasks to employees. This ensures that employees’ contributions are aligned with a single strategic organisational goal. Objectives & Key Results are often referred to as OKRs.
In most organisations, organisational goals and individuals’ targets are communicated but disconnected. Consequently, employees find it difficult to see their contribution to overall organisational performance and understand how they can best optimise their efforts. Furthermore, a significant contribution of OKRs is that they inject a visionary mentality by concentrating on the organisational objective, whereas traditional business goals such as revenue growth or market share are only an expression of progress towards a strategic objective.
OKRs mix qualitative and quantitative measures. Objectives should clearly define the goal for a set time period (usually a quarter). Key Results are the quantitative measures for the objective and are used to evaluate whether the goal has been met.
Objectives should be formulated in a single sentence that is qualitative, inspirational, time-bound and actionable for individual team members, i.e. “launch an awesome MVP by March”.
Key results are typically based on growth, engagement, revenue, performance and quality. A key result for the objective “launch an awesome MVP by March” could be ” to achieve 30% of users come back twice in one week”. A rule of thumb is that key results should be challenging but not impossible.