The OKR system is secure and practical to implement when we define it not for a very long period but a quarter. However, it is better to enhance the work toward the achievement of your company goals as long as the company continues to provide its services. As you could guess, you need to go through the process of setting OKR step by step for a new quarter (essential to go back to the set by the set guide we provide you).
Inform your team about OKR
Before the new OKRs setting session, make sure your team still understands OKRs.
Objectives: qualitative, far-reaching statement of what you’re trying to achieve.
Key results: quantitate, an outcome measure that states the impact you’ll have in reaching your objective.
Ask your team to review the achievements and failures of the last quarter and think about objectives and key results on which the company should tackle in the new quarter. Remind them that OKRs are supposed to be “uncomfortable”. They won’t be fired for setting an ambitious goal and missing it.
OKRs have to be set for each level in the organization: company, team, and individual. Each level has to define less than five objectives with a maximum of 4 key results for each objective. Keeping the number of objectives and key results low helps you work on the most important things without getting distracted.
a- Define company OKRs
The company objectives are the first you need to write down. Generally, for this step, only the CEO should do it, but as the whole team is well aware of the company vision, I suggest you spend the time to discuss ideas (goals for the new quarter) with your team and consider every single suggestion they would give.
Write them on sticky notes and post them on a whiteboard or wall. Next, group similar ideas together. From there, distill your thoughts down into 3 to 5 aspirational goals for the company.
After this is done, all other levels can write their objectives in alignment with the company objectives and find how they can contribute to it. Company OKRs are the big picture; the top-level focus for the entire company.
b- Define team OKRs
The team objectives are written in two steps. For the first step, the CEO, or the leadership conducts a meeting with the managers of each team to write a draft of the team objectives.
Next, the manager conducts a private meeting with their team members to discuss and review all the objectives. In this way, everyone in the team is involved in the process and knows what their team has to do. Team OKRs must define team priorities, not just a collection of individual OKRs.
c- Define individual OKRs
Personal OKRs defines what a team member is working on. By the end of the OKRs period, they can show what progress was made. To set individual objectives, the person involved discusses with their manager to know what is expected. It’s a negotiation with the manager and both have to agree with the defined list of objectives.
Review your OKRs
The last part of the OKRs’ setup for the period is the review cycle. When individual objectives are defined, you can now finalize team objectives by improving them according to team members’ goals. The top company objectives can also be modified to fit all teams OKRs. This is a very critical part of the process. Because each one will be involved in the definition of the objectives at each level, they will be very engaged.
- Are your objectives ambitious enough?
- Are your key results measurable? Do you know what your baseline is at the start of the quarter?
- Are your OKRs aligned with the company’s broader strategies?
- What do you expect to learn from this quarter?
Setting OKRs for a new quarter is all about remembering your mistakes and strength during the last quarter and working on it to better your OKRs scores in the new quarter. Also, take the time to go through the OKRs setting process with your team. We hope you will celebrate a great achievement for this quarter.