Third of all, the finance team would want to focus on making the payment confirmation process easier so that applications can reach the finance department faster from the moment when team managers submit them. The key result aspect of a team OKR is where you get into the details, breaking down that big hairy objective into more tangible, realistic, measurable results. Design beta version of product by Q3 FY 2017-18. Improve performance of design team. Key Result #3: Roll out prototype by fiscal year-end. KR3: Reach 8/10 average score on customer satisfaction survey with at least 100 responses. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Moreover, Objectives and Key Results are a great reflection mechanism to understand . If you plan to stay ahead of the competition, your team must have the most straightforward direction, resources, and metrics. In 99% cases the answer will always be yes. Unlike committed OKRs, they dont have a clear path for completion or actual knowledge of how to get there. Here are OKR examples for various departments: Because OKRs are used to align all teams with an organizations top goals, your entire companys OKRs are only as effective as the ones you set at the very top. We've even included some related initiative examples to support your movement towards achieving each outcome. Setup a new crash monitoring system that covers 5 new metrics. People dont seem to know how to work together effectively and they tend to avoid team meetings and dont ever take a proactive approach to solve problems. Help these teams to decompose what they do into repeatable steps and then find metrics (and key results) which demonstrate that their day-to-day capabilities are improving. Or can the team come up with something totally new and achieve better results through innovation? Become an Expert in implementing OKRs. Objective. Improve test metrics and setup crash monitoring. Objective 1: Successfully launch version 3 of our product Key Result 1: Increase follower count on Instagram and TikTok from 6,000 to 10,000 About Us; . The go-to solution would be to categorize expenses in the payment request so that team managers could provide all of the necessary information from the beginning. It is mandatory to procure user consent prior to running these cookies on your website. When written out, Syracuse's OKR looks like this: o Achieve fiscal sustainability. If you have a task success rate of 70%, increasing it to 90% will be an improvement in user experience. Administrative OKRs assist leaders determine if they are focusing on routine duties or adding value to the company. You'll need 3 key things to have a much better shot at achieving this and your other OKRs. Decent Objective: Improve sales demo quality to ensure recurring purchases and long-term relationships with customers. Notice how the first part of the Objective (Improve our digital presence) suggests a general improvement area, and the second part of the Objective (to attract younger audiences) explains why you are doing it in the first place. Setting OKRs may seem simple: you come up with an inspiring Objective, write measurable Key Results and start executing right away. Third-party reviews have more credibility than our own website messaging. First of all, the team has discovered that it takes a very long time for them to determine a type of expense to enter it correctly into the system. kr1 Reduce the general fund budget variance from 11% to 5%. By clicking Accept All, you consent to the use of ALL the cookies. kr2 Spend 95% of authorized capital project dollars by the end of the fiscal year. Design a draft and get approval from client Q2 FY 2017-18. So we say yes to every request and tell ourselves its just part of the job. Here is a list of OKR Software on SaaSworthy, that your team could explore while setting up OKRs for Product Development. Product Management OKR examples 4. When everything is a priority, nothing is. Q4-2021 Unplanned Change Requests. Develop a communication plan and introduce the structure to customers during the first meeting, A/B test different messaging to see what works for our customers. Why is it bad: its a performance target you want to achieve but it does not suggest how you are going to get there. Let's start with some of the OKR examples to help you quickly get started with the process. But one of the great advantages of using the OKR methodology is that it can be staggered for lower hierarchical levels, so the whole company pursues the same end goals, but using specific Key Results for each . A2: Also, it takes a very long time for us to determine a type of expense to enter it correctly into the ERP system. So your Team Objectives should be connected to a bigger picture and focused exclusively on the things that could have the biggest impact right now, and everything else should wait. OKR Examples for Compensation and Benefits Do we need to set company OKRs, individual OKRs, or both? Once you have a balance of both aspirational and operational CEO-level OKRs, you can then begin to cascade goals throughout the rest of the company to achieve organizational alignment. OBJECTIVE: Strengthen our corporate culture, OBJECTIVE: Successfully launch our new product by the end of Q2. This is even more true of research, operations, QA, and support. KR 2: Increase customer retention by xx%. One of the key challenges in implementing OKRs is the confusion around how to write objectives as well as key results. Break down the 5 steps for writing good OKRs in a Marketing team. Decent Objective: Adjust internal workflow to respond faster to customer needs. Key Results: $100K revenue growth from $50k. Only if everyone understands the process, the team would consider that they have achieved a new level of transparency in the organization. KR3: At least 50% of lost deals reply to the why not us survey. We will try reaching out to our existing clients and asking them to publish reviews. No one wants to spend time on projects that shouldnt have been started in the first place. Break down the 5 steps for writing good OKRs in a Finance team. Besides setting the OKR, the sales team should also think about the main things they can do to achieve the results above. This category only includes cookies that ensures basic functionalities and security features of the website. KR2: Maintain and exceed average weekly interactions (comments, shares) of 50. OBJECTIVE: Generate new bookings pipeline, OBJECTIVE: Recruit World-Class A-Players for Our Sales Team, OBJECTIVE: Develop Our Reps into the Best Sales Team in the Industry, OBJECTIVE: Grow Our Sales in the Central region, OBJECTIVE: Improve Sales in South America, OBJECTIVE: Implement SDR social selling process, OBJECTIVE: Grow Our Upsell and Cross-sell, OBJECTIVE: Enable Our Sales to Be More Successful, OBJECTIVE: Improve our Sales Analytics Process, OBJECTIVE: Grow Sales Through our Channel Partner, OBJECTIVE: Create an Exceptional Corporate Culture / Delight Our Employees, OBJECTIVE: Improve Our Employee Retention, OBJECTIVE: Improve Our Employee Engagement and Satisfaction Score, OBJECTIVE: Make All of Our Managers More Effective and Successful, OBJECTIVE: Complete Our Employee Reviews Efficiently and on Time, OBJECTIVE: Transition to Ongoing Performance Management, OBJECTIVE: Launch the New Product Architecture, OBJECTIVE: Build a World-Class Engineering Team, OBJECTIVE: Drive Quality for Features in Our New Release, OBJECTIVE: Improve the Email Delivery Architecture, OBJECTIVE: Launch a high-quality Product Beta, OBJECTIVE: Launch the New Product Successfully, OBJECTIVE: Be Proactive with Customer Success, OBJECTIVE: Deliver a World-Class Customer Support Experience, OBJECTIVE: Ensure Customer Support is a High-Performance Team, OBJECTIVE: Implement a Scalable Customer Support Process, OBJECTIVE: Track All Critical Support Metrics, OBJECTIVE: Improve our Annual Budgeting Process, OBJECTIVE: Improve our Financial Reporting Process, OBJECTIVE: Improve our IT and Infrastructure, Win 1,000 deals worth $10M in bookings by 12/31/17, Generate 50,000 marketing qualified leads, Reduce churn to <5% annually through customer success, Roll out a continuous two-way feedback loop via weekly surveys, Maintain an average employee satisfaction score of 8 or higher, Create & launch new mentorship program by the end of Q3, Develop 15 customer case studies by 4/30/17, Secure an award at an industry conference, Hit company global sales target of $100 Million in Sales, Achieve 100% year-to-year sales growth in the EMEA geography, Increase the company average deal size by 30% (with upsells), Reduce churn to less than 5% annually (via Customer Success), Interview 20 customers per month and get feedback, Launch an ongoing 2-way closed-loop feedback process, Achieve a weekly Employee Satisfaction / Pulse Score of 8+, Celebrate small wins and any type of progress every single week, CEO and SVPs to launch a monthly all-hands Town Hall and open Q&A meeting, Win a Best Product of the Year award at the industry conference, Generate Net-New Unique leads via Account-Based Marketing, Improve our new marketing automation process, Reduce the Customer Acquisition Costs by 20% in Q3, Build a new top-down and bottom-up Excel model to analyze the ROI, Document and implement the new ABM process, Do 2 weekly alignment meetings with the SDR team, Do 1 weekly alignment meeting with SDR team managers, Generate 20% of closed-won sales via ABM efforts in Q4, Improve conversions on Landing Pages by 10% in Q2, Get 10 new inbound links from relevant websites, Improve our internal on-page optimization, Finalize and launch 1 newsletter per month, Have 30 media calls/meetings by end of Q1, Have 15 calls/meetings with key industry influencers, Secure 2 speaking spots at the Annual Industry conference, Do 2 analyst calls - provide the new product launch update, Create a Customer Community Strategy based on best practices, Publish 60 articles during the quarter and get 6,000+ page visits, Get 30% of our customers to participate in the community, Reach out to 12 industry experts and thought leaders in Q1, Interview them and publish the interview articles on our community site, Research and publish the Industry Report & Infographics for the community, Finish all the new product website updates, Work with PR to provide technical product specs, Give an exclusive pre-launch update to customers and partners, Finalize product datasheets, feature briefs and sales enablement info, Publish 5 new partner-focused whitepapers by Q1, Launch 7 webinars to educate our partners, Do a 5-city Lunch & Learn event for partners, Keep pipeline above 5x of quota to ensure a 20% Win Rate, Hire 5 new Sales Managers by the end of January, Maintain a 4:1 onsite "Interview Offer" ratio, Ensure we do regular sales coaching every week, Bring in the new sales training company to improve our training, Do regular monthly anonymous surveys of SDRs and AEs and get their feedback, Develop relationships with 50 new targets or named accounts, Onboard 10 new resellers that focus on the Central region, Offer extra kicker to AEs to achieve 120% focusing on the Central region, Implement a new sales training program for our South American team, Receive 5-star reviews from our customers who will serve as references, Bring in $50,000 in bookings by end of Q3, Increase upsell and cross-sell revenue by 40%, Have regular weekly alignment meetings with Customer Success, Ensure we update our new sales technology stack, Implement the new process for measuring Outbound vs. Inbound, Revise all the email sequences and upload it into the new sales messaging tool, Update the CRM based on the new sales pipeline review process, Help the VP of Sales with the new data to finalize the new compensation plan, Implement a sales analytics and Business Intelligence platform, Set up sales cycle and average deal size triggers to email our VP of Sales, Review Sales Activity metrics and send a weekly summary to the team, Review Sales Pipeline metrics and send a weekly summary to the team, Review retrospective Sales Results metrics and send a weekly summary to the team, Recruit 30 new channel partners in Eastern, Central and Western geographies, Finalize the new 20% channel sales promotion for Q3, Implement the new channel partner website section, Improve the channel partner onboarding process and documents, Create clarity of all departments and teams via clear OKR goals, Celebrate "small wins" and any type of progress every single week, CEO and SVPs to launch a monthly Town Hall with Open Q&A, Improve our 2-way closed-loop feedback and ongoing performance management process, Improve our employee engagement score and employee satisfaction to 8 or above, Survey employees monthly on how to make our company an even better place to work, Assess if we are paying salaries and benefits at market rates, Offer our employees a $500 reward for referrals of A-Players whom we hire, Hire 25 new employees this quarter for the 5 requesting departments, Survey interviewees after each interview process and get feedback, Ensure every manager company-wide is doing an ongoing, 2-way feedback loop, Survey employees using a Pulse (Employee Satisfaction Index) weekly, Ensure we are setting clarity of work with goals to boost engagement, Provide consistent training to managers on how to manage effectively, Ensure every manager is doing regular 1-on-1 meetings with 2-way feedback, Do monthly anonymous employee surveys to get feedback on managerial effectiveness, Survey our employees on how they like our new ongoing performance process, Collect all performance review notes from our 30 front-line managers, Announce the transition from the outdated annual performance review process, Implement the ongoing 2-way closed-loop feedback with lite check-ins, Announce new annual reviews to serve as a summary for the ongoing process, Have engineering team contribute X story points, Upgrade our database and complete data migration, Offer a $500 reward for referrals to A-Players, Hire 5 referred engineers with exceptional references by end of Q2, Maintain a 4:1 onsite "Interview Hire" ratio, Implement the new QA automation tool and process, Ensure no more than 1 critical bug reported in Q3, Ship the new architecture docs to all internal teams, Conduct 30 customer development interviews, Review 10 usage videos via UserTesting.com and summarize it internally, Do 2 training sessions on the new product for Marketing and Sales teams, Help Product Marketing by reviewing their technical spec documents, Interview 50 prospective customers and get their initial feedback, Get usability score above 8/10 on UX mockups from 20 prospective customers, Specify 5 elements in UX mockups to increase product's usage engagement, Get internal feedback score of 10/10 from the sales team, Be proactive in assessing our drops in account usage or at-risk usage, Apply Best Practices to ensure we have NPS score of 8 and above, Implement a Customer Success platform to track customer health, Reach out to customers who appear to be at-risk, Achieve a CSAT of 90%+ for all Tier-1 tickets, Resolve 95% of Tier-2 support tickets in under 24 hours, Each support rep to maintain a personal CSAT of 95% or more, Maintain a weekly Support group ESI/Pulse score of 8 or greater, Finalize resource allocation with the VP of Support, Promote 2 customer support reps to managers, Implement our new customer support platform, Updated 30 "How-To" articles on the Knowledge Base, Track and report on Number of New Tickets to Resolved Tickets, Track and report on Average Resolution Time, Track and report on Top 10 Customers by Active Tickets, Have a meeting with every VP about the new process, Review everyone's budget proposals before mid-Q3, Implement the cloud-based version of QuickBooks, Ensure we close our financials within 2 weeks of a quarter, Implement the new cloud backup system and process, Improve internal IT satisfaction and response time.