How can we gear up for the forthcoming period by using OKR?
OKR is Objective and Key Results.
OKRs have two vital parts: The objective we choose to accomplish and the key results, which are the way we measure achieving the objective.
OKRs is to fix a definite business issue team is facing.
OKRs should be translated from the strategy, drive the achievement of the vision, and be in alignment with the overall mission.
An objective is a concise statement summarizing an explicit qualitative goal designed to drive the organization forward in the desired direction.
Basically, it asks, “What do we want to do?”
A Key result is a quantitative description that measures the accomplishment of a given objective. They are not tasks, they represent results.
If the objective is to asks, “What do we want to do?” the key result is to asks, “How will we recognize if we’ve reached our objective?”
Objectives and key results are the yin and yang of goal setting. Two sides of a coin.
Objectives are the substance of inspiration and distant perspectives. Key results are more mundane and metric-driven.
The challenge, and ultimately value, of key results, is in compelling a team to quantify what may appear to be unsure or ambiguous words in the team objective.
We must balance with key results is creating them difficult enough to force an acceptable arrangement of intellectual sweat to accomplish, but not so challenging as to discourage the teams because they appear impossible
More frequent goal setting has a positive impact on financial results. Deloitte reports that companies that set quarterly goals were nearly four times more likely to be in the top quartile of performers.
Google divides its OKRs into two sections, committed goals, and stretch goals.
Committed objectives are tied to Google’s metrics: product releases, customers etc.
Stretch objectives reflect bigger-picture, higher-risk, more future-shifting ideas.
Through OKR, the team has to established alignment among all the various roles and align with other team's OKRs.
To apply OKR and start the Journey let us do a workshop to come up with Tribe Mission, Vision, and Strategy. OKRs are supposed to be a mix of bottom-up and top-down.
Build Tribe OKR. Each team within a Tribe can build and present their OKR. OKR workshop is the best activity to do inter-team collaborations and minimize dependencies.
OKR for Tribe Lead:
Objectives: Ensure all the product release for all the customers are happen on time with quality and expected satisfaction
Key results:
Ensure > 90% end-users’ collaboration
Ensure >4 end-users’ satisfaction rating
Ensure >95% features acceptance in each release
Ensure 0 defects in each release
Ensure >4 team satisfaction
Ensure <5% attrition in Tribe
OKR for Scrum Team:
Objective: Deliver all the 4 releases planned for this year
Key Results:
Deliver 10 key major features in each release.
Deliver all the 10 features in each demos to collect feedback.
Complete quality target with 0 defects.
Ensure end-users’ satisfaction with greater than 4 from 1 to 5 scale, 4 being the highest
Product acceptance has increased >80%
Objective: Ensure maximizing team happiness and best learning experience for the whole year
Key Results:
100% collaboration in all the challenging assignment
Achieve >4 scores in team happiness index
Achieve >4 scores in best learning expansion
File at least 2-4 patents from the team
Write at least 2-4 technical papers in various journal
OKR for Scrum Master:
Objective: Ensure all the scrum team members are followed by the scrum practices to ensure smooth value delivery
Key Results:
100% coaching for all the scrum events
Ensure end-user satisfaction with greater than 4 from 1 to 5 scale, 5 being the highest
4-5 new ideas for improvements in retro meeting
100% end-user participation in product co-creation
OKR for Product Owner:
Objective: Deliver all 4 releases planned for this year with all the required features
Key Results:
Ensure end-user satisfaction with greater than 4 from 1 to 5 scale, 5 being the highest
Achieve 100% end-user participation in product co-creation
Ensure end-users acceptance grows >90%
Ensure Product features usages grows >90%
100% Support team to discover product features and customer personas
OKR for a People Manager:
Objective: Ensure all the required skills and capabilities are 100% available within the team
Key Results:
Ensure skills gaps are addressed within a minimal timeline
Ensure several learning events happen within a team for a month
Build learning backlog with many items collected from feedback and improvement items
Ensure technical capabilities are growing continuously, technical capability in a team is >3 in 1-5 scale
Ensure team and end user’s satisfactions are >4 in 1-5 scale.
Ensure <5 % attrition in Tribe
One of the biggest strengths of OKRs is their emphasis on a shorter cycle.
More frequent review cycles lead to rapid learning, increased opportunities to make progress, and even a feeling of winning at work
Monitor OKRs: We don’t set OKRs as a yearly target and review at the end of the year!!, but must monitor those during the each quarter. Let us Score our OKRs and communicate the results with the entire organization.
OKRs do not expire with the completion of the work. It needs ongoing review and refines dynamic changes happening.
Here are some retrospective questions for closing out an OKR cycle:
Did I take care of all of my objectives? If so, what helped me with my progress?
If not, what hindrances did I come across? What action I should take?
If I were to rewrite an objective accomplished so far, what would I revise?
What have I learned that might transform my approach to the next cycle’s OKRs?
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