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Power Your Business with OKRs

https://www.wrike.com/blog/tag/okr/ - OKR (Objectives and Key Results) is a planning and goal setting technique made famous by Intel and Google. OKRs represent aggressive goals and define the measurable steps you’ll take towards achieving those goals. This presentation walks you through why and how you can use OKRs to power your business.

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Power Your Business with OKRs

  1. Harness the Power of OKRs for Your Business
  2. What are OKRs? OKR stands for Objectives and Key Results, a planning and goal setting technique famously used by Google, Intel, LinkedIn, and other top companies. OKRs define ambitious goals and the measurable steps you can take towards achieving them. Wrike.com    Where  Work  Gets  Done.  
  3. Sample OKR Objective: Become the #1 rated iOS Photo Editing App Key Result 1: Conduct survey to identify 10 most-requested features Key Result 2: Launch 5 of the most requested features by Dec 30 Key Result 3: Conduct 10 user tests to identify UX issues Key Result 4: Show 50% improvement in UX satisfaction via customer survey Wrike.com    Where  Work  Gets  Done.  
  4. OKRs are: 1. Ambitious. Your OKRs should make you a little uneasy. Think big and set aggressive goals, and be satisfied if you hit 60 – 70% of your target. Wrike.com    Where  Work  Gets  Done.  
  5. 2. Measurable. Dates, percentages, dollar amounts — every Key Result needs to have a number attached to it so progress is measurable. OKRs are: Wrike.com    Where  Work  Gets  Done.  
  6. 3. Shared. The entire company should be able to see everyone else’s OKRs, not just managers or executives. This promotes clearer communication and collaboration between individuals and departments. OKRs are: Wrike.com    Where  Work  Gets  Done.  
  7. 4. Graded. Use your results data to grade each KR on a scale from 0 – 1. (If your KR was to speak at 6 industry events and you spoke at 3, your grade is 0.5.) You can then average your grades for an overall Objective grade. OKRs are: Wrike.com    Where  Work  Gets  Done.  
  8. While OKRs are set at the company, team, and individual levels, they should all connect to each other and support overarching goals. Wrike.com    Where  Work  Gets  Done.  
  9. Company Objective: Increase brand recognition and awareness   Key Result 1: Increase media engagement by 20% Key Result 2: Launch customer referral program by September 1 Key Result 3: Expand thought leadership by placing articles on 4 industry sites with 30,000+ Alexa Marketing Team Objective: Increase social media engagement 35%   Key Result 1: ID & Establish relationships with 25 Instagram influencers Key Result 2: Respond to new Facebook comments within 3 hours Key Result 3: Increase followers on Facebook and Twitter by 20% Individual Objective: Increase # of social media connections 25%   Key Result 1: Establish presence on two new sites: LinkedIn & Instagram Key Result 2: Join 5 LinkedIn Groups with at least 2,500 members each & comment on 10 most popular discussions in each group Key Result 3: Gain 100 Instagram followers by posting 5 photos/week Wrike.com    Where  Work  Gets  Done.  
  10. Step 1: Employees submit OKRs they think their department should prioritize. Team objectives are set collectively. How does it work? Step 2: Employees set individual OKRs to reflect company and department goals, then meet with managers to negotiate specifics. Step 5: Use lessons learned to inform your next OKRs. Step 3: Hold a mid-quarter check-in to share progress and make any adjustments. Step 4: At the end of the quarter, grade OKRs and report results. Wrike.com    Where  Work  Gets  Done.  
  11. Why Should You Use OKRs? Every decision is made with this question in mind: will this get us closer to our main objective, yes or no? Wrike.com    Where  Work  Gets  Done.   1. OKRs promote discipline and focus.
  12. Wrike.com    Where  Work  Gets  Done.   Since all OKRs are based in numbers, you can quantify just how far you’ve come towards reaching your goals. 2. OKRs allow for clear, measurable progress.
  13. Wrike.com    Where  Work  Gets  Done.   Because OKRs are public company-wide, they promote transparency, clearer communication, and better teamwork. 3. OKRs promote collaboration
  14. Wrike.com    Where  Work  Gets  Done.   They can see exactly how their individual efforts contribute to high-level company progress. 4. Everyone knows the top priorities.
  15. Tip: Focus on Select Objectives Don’t have more than 5 Objectives with 4 Key Results each. Otherwise you’ll stretch yourself too thin and won’t make real progress. Don’t bite off more than you can chew! Wrike.com    Where  Work  Gets  Done.  
  16. OKRs are not for performance evaluations. If you set an aggressive goal and don’t meet it, you aren’t punished, nor are bonuses given for meeting or exceeding OKRs. OKRs should encourage your team to be bold. Make it clear to your entire team exactly how OKRs fit into the big picture. Wrike.com    Where  Work  Gets  Done.   Tip: Avoid Needless Anxiety
  17. Award-­‐winning  Collaboration  &  Project  Management  Software Brought  to  you  by Wrike.com    Where  Work  Gets  Done.   Click to learn how to integrate OKRs with your company’s process What’s your next step? You’ll find: ✓ All the nitty-gritty details on OKRs that you’ll need. ✓ Implementation tips from Silicon Valley tech giants. ✓ A step-by-step guide to lead your team through the OKR process from start to finish.

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