Implement OKRs at YOUR_COMPANY to drive focus, alignment and engagement
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A template we have used to run 1/2-day OKRs workshops. If you're implementing Objectives and Key Results, then you may find this presentation useful for inspiration. Focus on the history of OKRs, why and how OKRs add value, and how to link OKRs to company mission and purpose.
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Implement OKRs at YOUR_COMPANY to drive focus, alignment and engagement
- 1. OKRs at YOUR_COMPANY Bo Pedersen www.gtmhub.com bo@gtmhub.com
- 2. What are you dealing with? Growth or Change
- 3. Who are you dealing with? People
- 4. What are you dealing with? Data
- 5. This is what OKRs are made for…
- 6. History
- 7. The Challenge:Purpose of Goal Setting 27/09/2017 7 Direction Motivation Persistence Learning
- 8. The Challenge:What drives Goal performance? 27/09/2017 8 Goal Difficulty
- 9. The Challenge:What drives Goal performance? 27/09/2017 9 Goal Difficulty Measurement
- 10. The Challenge:What drives Goal performance? 27/09/2017 10 Goal Difficulty Measurement Commitment Feedback Complexity Importance Confidence
- 11. The Challenge:Management by Objectives 27/09/2017 11 Peter Drucker SMART goals Annual Rewards Compensation
- 12. The Challenge: Balanced Scorecard 27/09/2017 12 Kaplan & Norton Strategy / Execution Perspectives Alignment Leading / Lagging
- 13. Organisational evolution Anarchic HierarchyMatrixTeamsDemocratic Departmental Project ✓X More control Execution Bias Less Control Innovation Bias Trend
- 14. We need a way to thrive in changing world SMART + Rewards Alignment Stretch & Measure Cloud Mobile Microservices Looks like there is a better way And all this change is going on
- 15. Agile is a reaction to this
- 17. What have we learnt so far? • Goals are good (stretch goals are better) • Measurement is crucial • Organisations are changing • The way we work is changing • Huge trends are happening
- 18. The Challenge: And then… • Objectives and Key Results • Invented at Intel, adopted by Google • 1000s of companies using OKRs 27/09/2017 18
- 19. You’re part of a trend OKRs – Google Searches 2011 - 2016
- 20. Why
- 22. Where to start? Values – Who are we? Vision/Mission/Purpose – Why are we here?
- 23. Your Values What are the your Values? (or what should they be) Form groups of 2-3
- 25. What’s in a Mission? Guide to decisions and actions Provides a path and direction Sets context for strategy “a goal for what a company wants to do for the world”
- 26. What does a great mission statement look like?
- 27. … designs, manufactures and launches advanced rockets and spacecraft. The company was founded in 2002 to revolutionize space technology, with the ultimate goal of enabling people to live on other planets.
- 28. Photo by SpaceX on Unsplash
- 29. …organize the world’s information and make it universally accessible and useful
- 31. empower and engage people around the world to collect and develop educational content under a free license or in the public domain, and to disseminate it effectively and globally.
- 33. 10-Minute Exercise What is your Mission? (or what should it be) Form groups of 2-3
- 34. INSERT MISSION
- 35. Your Objectives (verbatim) 1. INSERT
- 36. Your Objectives (abridged) 1. INSERT
- 37. Tools for prioritisation Prioritize Goals NASA 1960s Political Landscape Strengths - Education - Funding - Facilities Weaknesses - Financial mngt - Bureaucracy Opportunities - Soviet Threat - Military contracts Threats - Loss of life - Public Apathy • Goal: Publicize threat of Soviet dominance in space to increase funding and garner public support. • Goal: Target zero loss of human life to avoid public disenchantment • Goal: Minimize financial misspending and reduce overheads to avoid political backlash.
- 38. The Challenge:Commonly Cited Benefits • Focus – choosing what needs to be done • Alignment – Everyone working on common objectives • Engagement – Employees know how they contribute which make their job meaningful • Transparency – feedback loop between strategy and execution 27/09/2017 38
- 39. Why OKRs? Focus & Alignment Grow and sell the best organic strawberries in the world
- 40. Focus & Alignment How do you choose what not to do? Breaking out of BAU mode Cross-functional teams
- 43. Transparency Pros & Cons? Should we be open about everything?
- 44. Why OKRs? Autonomy & Engagement Select the best variety of Strawberries Gain Access to Farmers Market Prepare for an excellent harvest Joe Horticulture Esther Sales & Marketing Charles Operations “I know strawberries inside out!” “I believe we should target Farmers Markets” “I want to get us ready for harvest”
- 45. Autonomy Less = Top Down More = Bottom Up Recommended = Negotiation
- 46. Engagement How do we measure it? Subjective experience
- 47. The Challenge: OKRs as enabler of agile micro- services Micro-service Modular Independent Loosely Coupled Supports Business Goal Transparent Parallel Networked Agile Team Autonomous Independent Aligned with Business Goals Cross-functional 27/09/2017 47
- 48. Why OKRs summary? • Link Mission to Action • You have Values, Mission, Objectives, and Priorities • Focus, Alignment, Engagement, Transparency
- 49. Break
- 50. How
- 51. Convert Mission into Action Values – Who are we? Vision/Mission/Purpose – Why are we here? Goal – What’s our big hairy audacious goal? Objectives – What’s possible now (3 months)? Key Results – How do we we measure success? Tasks – How do we make progress?
- 52. Bringing it together OKRs Goal(s) Mission Put a man on the moon before the end of the decade Develop a rocket a engine generating at least 1.5m pounds of force Successful Test of F-1 Engine in simulated launch environment Develop a fuel injection method for Kerosene based engine Build a recoverable re-entry capsule with space for 3 astronauts Successfully test capsule heat shield under re-entry maxima conditions 10 years 1 year 3 months
- 53. OKR Structure Key Results Objective Accelerate Growth Book $3m New Business Upsell 200 customers to Enterprise Max Churn = 1% / month Measure ment What Qualitative Quantitative
- 54. The Challenge:Example Objective: Improve health Key results: • Blood pressure 120 / 80 • Work out 3 times per week • Cook 3 healthy meals per week Time frame: Next 3 months 27/09/2017 54
- 55. The Challenge: Ask these questions What do you want to achieve? How will you measure success? What can you do to get there? 55
- 56. Exercise – Set an OKR What do you want to achieve? How will you measure progress?
- 57. What do you want to achieve? • Qualitative expression (make X better, improve Y, reduce Z errors) • Creates value (BSC: financial, customer, process, learning) • Targets leading indicators, to affect change in lagging indicators • Set no more than 2-3 objectives per quarter 27/09/2017 57
- 58. How will you measure success? • Quantitative, objective, numbers • Use numbers instead of percentages • Balance upside measurements with downside counter measures • Measure outcomes, rather than activity 27/09/2017 58
- 59. What will you do to make progress? • Initiatives. Broader definition of something you’ll do. For example a marketing campaign. • Priorities. Based on your understanding of what you’re trying to achieve and what the success criteria are, you can prioritise tasks accordingly. • Check-ins. Individual, team. Make time for OKRs as part of your individual and team routines.27/09/2017 59
- 60. OKR Alignment - Teams Objective – L2 Objective – L1 Increase Revenue Make Existing Customers Happier Turbo Charge Net New Sales Process
- 61. OKR Alignment Objective - L4 Objective – L3 Objective – L2 Objective – L1 Accelerate Growth Make Existing Customers Happier Reduce Onboarding to two weeks Provide Dedicated Account Management Hire 3 Account Managers Turbo Charge Net New Sales Process Roll-out CRM Tool and Process Shortlist CRM SaaS Providers Increase Sales Proficiency Deliver Sales Training
- 62. Negotiating OKRs Key Points Social contract 1-1 Light touch OKR Champion
- 63. The Question “How can you help me achieve my objective?”
- 64. The Challenge:Who should own OKRs? • Company • Teams • Employees 27/09/2017 64
- 65. The Challenge: Basic principles • Max 2-3 OKRs per employee/team • Ideally 3 key results per objective • Progress is updated weekly • Objectives should be ambitious, it should be almost impossible to accomplish them fully (target 70% ) • Employees should not be evaluated on OKRs 27/09/2017 65
- 66. The Challenge:Performance Management Exercise How should OKRs and Performance Appraisals be managed? 27/09/2017 66
- 67. The Challenge: OKR Champion At least one person should be designated process owner Ensures that process is being followed Acts as a resident expert
- 68. The Challenge: What not to do Too many objectives Using tasks as OKRs Using KPIs as OKRs Using OKRs for performance appraisals or compensation / bonus adjustments
- 69. Exercise – Company Objectives Feel up for it?
- 70. The Challenge: Final Recap OKRs came out of goals, MBOs, Agile OKRs demand transparency OKRs deliver focus, alignment, engagement OKRs are separate from HR process OKRs are separate from compensation OKRs align strategy with execution
- 71. Q&A You made it!
- 72. Thank you Bo Pedersen bo@gtmhub.com +44 7775448056 www.gtmhub.com