name: inverse layout: true class: center, middle, inverse --- # Goal Setting [Objectives and Key Results] - - - [press p for notes] .footnote[[LinkedIn Learning](https://www.linkedin.com/learning/goal-setting-objectives-and-key-results-okrs/the-power-of-strategic-goals-objectives-and-key-results-okrs?u=102789018) with Jessie Withers,</br></br>presentation by [andrea della corte](https://dellacorte.me)] ??? OKRs are a strategic framework to communicate top priorities, which can help you OKRs move an organization together in the same direction, and - Enable focus on what matters most - Empower the team to achieve great thing - Encourage alignment cross-department --- layout: false .left-column[ ## When can I apply them? ] .right-column[] ??? OKRs can be applied to managing very different strategic priorities, for example: - Entering a new country - Adding a new product lines - Facilitating a re-org --- layout: false .left-column[ ## When can I apply them? ## Why should I apply them? ] .right-column[ <img src="/static/imgs/presentations/okrs/jfk-janitor.webp" width="600"> ] ??? President John F. Kennedy was visiting NASA headquarters for the first time in 1961. While touring the facility, he introduced himself to a janitor who was mopping the floor and asked him what he did at NASA. "I'm helping put a man on the moon!". The long-term success of a company relies on every team member clearly being able to understand what matters most. OKRs are part a critical thinking framework and part an ongoing discipline. OKRs help teams and individuals: - Manage priorities - Think about the big pictures - Fail smart and fail fast --- layout: false .left-column[ ## When can I apply them? ## Why should I apply them? ## Anatomy of an OKR ### Objectives ] .right-column[ #### 1 x Objective - The qualititative, aspirational statement meant to inspire action _Example: Make the web as fast as flipping a magazine_ ] ??? - Where you want to go, meant to move the organization fast toward it - Objectives are always followed by "as measure by" Objectives are followed by 3 to 5 Key Results. --- layout: false .left-column[ ## When can I apply them? ## Why should I apply them? ## Anatomy of an OKR ### Objectives ### Key Results ] .right-column[ #### 1 x Objective - The qualititative, aspirational statement meant to inspire action _Example: Make the web as fast as flipping a magazine_ #### 3 - 5 x Key Results - The quantitative targets used to measure the success of the objective _Example: Reduce pageload by 1.5 seconds_ ] --- template: inverse ## Writing (powerful) OKRs - - - .footnote[disclaimer: requires practice] ??? A powerful objective must: - Propel an organization forward - Communicate what's most important - Be set quarterly, semi-annually, or annually President John F. Kennedy was visiting NASA headquarters for the first time in 1961. While touring the facility, he introduced himself to a janitor who was mopping the floor and asked him what he did at NASA. “I'm helping put a man on the moon! --- layout: false .left-column[ ## 1. Identify the problem ] .right-column[ Problem Statement - An issue or something preventing growth, change, or a desired outcome ] ??? To write a powerful objective, start with a Problem statement Ask: - What do I want to change? - What is holding us back in creating our ideal scenario? At this stage, it's helpful to gather as many problems as possible, no matter how small. Next, problems should be prioritized, good questions to ask are: - What are the things we can't afford to lose sight of? - What challenges absolutely must get solved immediately? --- layout: false .left-column[ ## 1. Identify the problem ## 2. Turn the problem into an objective ] .right-column[ Alignment at this stage is key; a powerful objective describes **what you want to do** and **where you want to go**. _Example: "Attrition is too high. We are losing some of our best talent."_ becomes _Objective: "Attract and retain the best talent in our industry."_ ] ??? A problem worth solving and a clearly valuable objective, that all functions and departments wants to solve and know why it matters. --- layout: false .left-column[ ## 1. Identify the problem ## 2. Turn the problem into an objective ## 3. Define Key Results ] .right-column[ What gets managed, gets solved. Key Results tell us if we've achieved our objective ] --- layout: false .left-column[ ## 1. Identify the problem ## 2. Turn the problem into an objective ## 3. Define Key Results ] .right-column[ What gets managed, gets solved. Key Results tell us if we've achieved our objective **Key** ] ??? **Key** - Outcomes, not tasks - Three-to-five for objectives - They are not business as usual (attend meetings!) --- layout: false .left-column[ ## 1. Identify the problem ## 2. Turn the problem into an objective ## 3. Define Key Results ] .right-column[ What gets managed, gets solved. Key Results tell us if we've achieved our objective **Key** **Clear**] ??? **Clear** - Specific - Avoid jargon - High-school english --- layout: false .left-column[ ## 1. Identify the problem ## 2. Turn the problem into an objective ## 3. Define Key Results ] .right-column[ What gets managed, gets solved. Key Results tell us if we've achieved our objective **Key** **Clear** **Measurable** ] ??? **Measurable** - Objectives, not subjective --- layout: false .left-column[ ## 1. Identify the problem ## 2. Turn the problem into an objective ## 3. Define Key Results ] .right-column[ What gets managed, gets solved. Key Results tell us if we've achieved our objective **Key** **Clear** **Measurable** **Achievable**] ??? **Achievable** - Difficult, not impossible. Achieving 70% is a great success. There is research people achieve more when the goal-post is set high. The key result are the goal post and finish line, not the plan to get there.? --- layout: false .left-column[ ## 1. Identify the problem ## 2. Turn the problem into an objective ## 3. Define Key Results ## 4. Define Tactics ] .right-column[ The tasks, activities and binary outcomes that help achieve the key results. _Example: Onboard 5 customers_ ] ??? They often serve as the to-do list and are basically a project plan. Gets easier as you do it again and again! --- template: inverse ## OKR design process for a group - - - .footnote[the more buy-in the better] ??? Bringing the team in as soon as possible; making powerful OKRs required a hybrid both top-down and bottom-up thinking - Objectives are usually set by leadership - Key Results are instead defined by subject matter experts While this approach can be used at the team level, let's use an example for a company OKR. --- layout: false .left-column[ ## 1. Set the Objective ] .right-column[ ] ??? This is usually done by a leader or the executive group. The first step is to set a goal that can focus an organization or team in one direction. --- layout: false .left-column[ ## 1. Set the Objective ## 2. Assign the Exec Sponsor ] .right-column[ ] ??? An (executive) sponsor is usually assigned to each OKR; they are the people that will communicate what the objective is about and answer questions. This usually happens during a live Q & A meeting, which helps all people involved get on the same page. --- layout: false .left-column[ ## 1. Set the Objective ## 2. Assign the Exec Sponsor ## 3. Set the Key Results ] .right-column[ ] ??? In this case the team or SMEs define the Key Results that will contribute to achieving the objective. This step is what makes it non top-down approach, but a mix of top-down and bottom-up --- layout: false .left-column[ ## 1. Set the Objective ## 2. Assign the Exec Sponsor ## 3. Set the Key Results ## 4. Assign KR Owners ] .right-column[ ] ??? Each KR has a responsible owner, chosen amongst the people that are the most likely to be able to influence the objective. --- layout: false .left-column[ ## 1. Set the Objective ## 2. Assign the Exec Sponsor ## 3. Set the Key Results ## 4. Assign KR Owners ## 5. Set the tactics ] .right-column[ ] ??? Who (or what group) will shepherd the key result through Tasks involved, when they need to be completed Who will need to be involved for the tasks to be done Who will engage leadership when the KR or objective is at risk - - - For these 5 steps to work, it's essential to have a dedicated leader connect the dot, understand and advocate for the bigger picture OKRs are about progress, not perfection - having people in a room discussing, and advocating for what matters for them is already valuable. --- template: inverse ## Tips & Tricks in Managing OKRs .footnote[from wishes to proven results] - - - ??? Strategy is great, but strategy without a process, is little more than a wishlist Number 1 mistake in managing OKRs: set it and forget it --- layout: false .left-column[ ## 1. Set a cadence ] .right-column[] ??? Make sure to review OKRs - Monthly, quarterly. Most success is 6 months OKRs, with bi-monthly check-ins; monthly check-in work well to manage the OKRs on a monthly basis. Prefer more frequently in the beginning. --- layout: false .left-column[ ## 1. Set a cadence ## 2. Establish a single source of truth ] .right-column[] ??? This will ensure everybody is able to get the latest on the OKRs, and will make reporting painless. It's critical to assign a project manager to partner with the exec leader. The PM is responsible for managing the KR from the single source of truth, which defines the tactics, tracking the task list, communicating what work is ongoing and complete and keeping the KR up to date. Project Manager should start every meeting with a review of the OKR source of truth. If you have a weekly meeting, the #1 agenda should be reviewing the OKRs. --- layout: false .left-column[ ## 1. Set a cadence ## 2. Establish a single source of truth ## 3. Set milestones ] .right-column[] ??? Milestones (intermediate KR) are made by the KR owner, should be pre-determined before the start of the period and documented in the tactical plan. Example: If KR is achieve $120,000 in sales in Q1, you could monthly targets to achieve $40,000 sales each month. --- layout: false .left-column[ ## 1. Set a cadence ## 2. Establish a single source of truth ## 3. Set milestones ## 4. Trust your leaders ] .right-column[] ??? While reporting and communication benefit from having structure at the top, but don't overdo it. Most OKRs implementation see benefit in letting organizations define the mechanisms and systems that works for them. That way you'll have an engaged organization that wants to deliver on the shared objectives. --- template: inverse ## OKR implementation throughout the organization - - - .footnote[not one size fit all] ??? Adaptability and customization to match the culture and maturity of the organization is key --- layout: false .left-column[ ## Start small ] .right-column[] ??? **Start Small** Begin with a small pilot and try it for a few quarters. It helps to identitly early OKR Champions to help you promote the value of OKRs to the rest of the organization. --- layout: false .left-column[ ## Start small ## Progress > perfection ] .right-column[] ??? **Progress > perfection** Build time in your process to iterate on your OKR implementation strategy as you learn what works and what doesn't. This will help collect feedback and improve the OKR implementation over time --- layout: false .left-column[ ## Start small ## Progress > perfection ## Centralized governance ] .right-column[] ??? **Centralized governance** Ownership of the OKR implementation within a single corporate team with no specific agenda will help avoid resistance. --- layout: false .left-column[ ## Start small ## Progress > perfection ## Centralized governance ## Shared model ] .right-column[] ??? **Shared model** Develop a common framework for priorities, language --- layout: false .left-column[ ## Start small ## Progress > perfection ## Centralized governance ## Shared model ## Consistency ] .right-column[] ??? **Consistency** Dedicated OKR project manager should be responsible for connecting the dots between the top vision and down progress. --- layout: false .left-column[ ## Start small ## Progress > perfection ## Centralized governance ## Shared model ## Consistency ## Exec comms ] .right-column[] ??? **Exec comms** Executive should tie every topic back to company OKRs, replaying the importance of OKRs at every opportunity, like Town Hall meetings and leadership reviews. --- template: inverse ## Measuring OKR implementation success - - - .footnote[am I doing this right?] ??? You'll know you're successful when: --- layout: false .left-column[ ## Annual cadence ] .right-column[] ??? **Annual cadence** Leadership and teams meet on a cadence to work out together their OKRs. Success at this level is measured by how much this process improves over time: is it faster? does it product stronger OKRs? --- layout: false .left-column[ ## Annual cadence ## Tied to strategy ] .right-column[] ??? **Tied to strategy** OKRs are strongly connected to the company long-term strategy, a living document that should explain your mission, what the industry and market trends are, and how your business will evolve. --- layout: false .left-column[ ## Annual cadence ## Tied to strategy ## Single source of truth ] .right-column[] ??? **Single source of truth** There is an easy to browse and understand location where OKRs, progress and status, are visible at a glance. A simple Google Sheet could do the trick; some add special integrations with other tools (e.g., Slack). --- layout: false .left-column[ ## Annual cadence ## Tied to strategy ## Single source of truth ## Employee engagement ] .right-column[] ??? **Employee engagement** Periodic surveys of employees also include OKRs adoption awareness, understanding and engagement. This helps embed OKRs in the company culture; these questions also reinforce the progress is better than perfect. --- template: inverse ## OKRs and the company DNA - - - .footnote[a stronger, smarter enterprise] ??? Not just business results, but also a company that's smarter, stronger, faster --- layout: false .left-column[ ## Company culture ] .right-column[] ??? OKRs have beneficial impact on a company culture, since employees: - Know their input matters, as they influence what Objectives and Key Results are chosen - Clearly see how their day to day job contributes to the long term company vision. - Can keep themselves and others accountable to prioritize correctly (does this really matter?) and keep on track (will we achieve the objective?) --- layout: false .left-column[ ## Company culture ## Training, education and coaching ] .right-column[] ??? - OKR training should be integrated in all HR programs, including manager training, new-hire training & leadership programs - Do you have training? Have your teams the chance to practice? Do you offer resource to set your team for success? --- layout: false .left-column[ ## Company culture ## Training, education and coaching ## Performance management ] .right-column[] ??? OKRs can also be used by employees to quickly convey to their manager: - What they are working on - Progress to celebrate - Risks to success - How the manager can support them --- template: inverse ## OKR Design Checklist - - - .footnote[copies will be provided] --- ✅ The Objective inspires me. ✅ There are three-five Key Results (KRs). ✅ The OKR is written in basic language a team member from any department could understand and is free of acronyms. ✅ The OKR doesn’t feel like a task list or “business as usual.” ✅ The OKR drives value more than activities. ✅ Each KR includes a number. ✅ Each KR is measurable and specific — progress made against it couldn’t be debated. ✅ Progress could be made on each KR approximately every two weeks. ✅ All targets are aspirational + assume 70% = achievement. ✅ Assuming all KRs are met, the Objective is then also achieved --- name: last-page template: inverse ## That's all folks (for now)! Slideshow created using [remark](http://github.com/gnab/remark). --- template: inverse ## Appendix - Quizzes --- ## What are some good questions to ask yourself in designing an objective? 1. What is something small or minor I care about? 2. What do I want to do? Where do I want to go? 3. How would I describe my day job? 4. What am I really good at? --- ## Marissa Mayer of Yahoo says, “If it doesn't have _____, it's not a key result.” 1. an adjective 2. a noun 3. a number 4. an explanation point --- ## How many key results does a strong OKR have? 1. 10 2. 3-5 3. 0-4 4. 2 --- ## Who chooses the objective in the OKR design process? 1. the eldest team member 2. anybody—it doesn't matter who 3. the newest hire 4. the executive team --- ## What are two of the most important things you can do in managing OKRs effectively? 1. Establish a single source of truth and set predetermined milestones. 2. Edit your OKRs as you go along and don't revisit once a year. 3. Think fast and write quickly. 4. Be vague and open to interpretation. ## Who is best to communicate OKRs consistently? company executives new hires individual contributors your team members' family members --- ## OKR champions are _____. 1. early adopters 2. OKR award winners 3. the most aggressive in setting stretch goals 4. the smartest people at the company --- ## What will help you measure the success of your OKR implementation? 1. OKRs are easy to forget. 2. OKRs are introduced to the company and then never talked about again. 3. OKRs are lengthy and full of intricate detail. 4. OKRs are a byproduct of a longer-term strategic plan.