OKR – Objectives & Key Results

Set team objectives, track key results & celebrate wins!

WHO ARE WE?Founded in 2013, TalentCove empowers

people and teams to meet and exceed their goals.

Our belief is that goal-setting, individual empowerment and mobile first software will transform how employees, teams and organizations realize their full potential.

Our mission is to help teams build a high performance, goals-based culture with the individual at its heart.

OUR CLIENTELE

WHAT IS OKR?It is a management strategy which

originated at Intel and is now widely used by companies like Google, Twitter, LinkedIn and Zynga.

OKR is a highly focused, goal setting approach that connects the work of employees to an enterprise’s strategic plan.

Cove App - How it worksSet team objectives easilyAlign team members’ goals to team objectivesUpdate progress on goals effortlesslyTrack key results with team dashboardGet automated weekly progress reportsHighly secure, enterprise grade mobile and

web software

BENEFITS OF OKRSet specific, measurable and time bound

goals that are easier to monitor and achieve.

Imposes a disciplined goal setting approach.

Increases transparency of work done and goals achieved.

Serves as a communication vehicle that shows other people what you’re trying to accomplish.

Encourages collaboration.Employees work is connected to the

enterprise’s strategic plan.

WHAT ARE OBJECTIVES & KEY RESULTS?Objectives are what you want to accomplish, and

are ambitious and aspirational. Think dreams! Think vision and mission.Key results, on the other hand, are specific,

achievable and quantifiable. Think steps by step approach to winning that trophy! Think mission actionable.

Having key results that are measurable and fact based gives everyone a common understanding on how well an objective has been achieved and can also be a way for other to learn and stay motivated!

SAMPLE OKRSCompany OKRsObjective: Beat our Q1 financial targetsKey Results: Achieve >$10M in product revenue,

International sales of at least $2M, Customer churn rate under 5%.

Marketing OKRsObjective: Deliver superior quality new leadsKey Results: Deliver 1000 new leads in Q1, Increase

monthly webpage views by 30%, Outbound email campaign targeting > 5000 prospects.

MORE SAMPLE OKRSSales OKRsObjective: Expand revenue footprint in Asia Key Results: Hire 10 channel partners in key

geographies, Drive new compensation plan for Asia Sales team, Deliver 5 compelling region-specific success stories

IT Operations OKRsObjective: Improve technology infrastructure

efficiencyKey Results: Reduce latency on requests by

30%, Reduce maintenance downtime by 10%

STEP BY STEP GUIDEStep 1: Employees set quarterly or even monthly

to long term OKRs that are aligned to the department/company’s OKRs. Teams objectives are set collectively. Limit number of objectives to 3-5 per team at any given time.

Step 2: Continuously review and monitor OKRs being achieved, hold mid-quarter check ins to share progress and make adjustments.

Step 3: At the end of the quarter, grade OKRs and report results. OKRs should be set such that typically you expect to achieve 70-80% of your goals.

DIFFERENCE BETWEEN MBO, KPI AND OKRMBOs – Management By Objectives - Management

framework where managers set objectives and measure performance against it. Popularized by Peter Drucker in the 60s.

MBO has it’s advantages, however, it overemphasizes the setting of goals over the working of a plan as a driver of outcomes.

KPI –Key Performance Indicator - evaluates the success of an organization or of a particular activity which is often the repeated, periodic achievement of some levels of operational goal. Overseeing KPIs can prove expensive or difficult for organizations and some indicators such as staff morale may be impossible to quantify.

OKR WINS THE GAME!MBOs and KPIs are set by a manager in discussion

with an employee. The vast majority of these goals are set and reviewed annually and their primary purpose is compensation determination.

OKRs are used to set ambitious operating goals to focus people on ongoing execution excellence. Many organizations keep them distinct from compensation determination.

OKRs are typically set collaboratively with at least a quarterly cadence and progress on them is reviewed frequently.

Try our OKR App for free now!

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Or email us at info@talentcove.com

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