In order to stand a greater chance of success, take a fresh look at your vision and mission before embarking on an implementation of OKRs. Only then focus on getting into a quarterly rhythm of setting and managing Objectives, measured by Key Results.
NASA’s mission statement was incredibly simple: Put a man on the moon before the end of the decade.
The business must define and communicate its purpose via its vision. OKRs are intended to align every person in an organisation around a common purpose. This can be achieved if every person in the business understands and supports the purpose of the organisation. Organisational purpose may not be obvious day to day, among the rapid fire demands from customers, and colleagues. We lose ourselves in execution, doing without thinking. Simon Sinek offers a simple approach to answering this question. Start with why. ‘Why’, as opposed to ‘how’ or ‘what’ offers an insight into the underlying purpose of something. Your purpose is the vision of the future that you are trying to create.
This is what you do. Every day, every week, your business works to fulfil its mission. ‘Before the end of the decade, we will put a man on the moon.’ Perhaps the ultimate mission statement, this simple sentence enabled the single largest human achievement in history. While defining a vision can be tricky and more abstract, describing a mission should be relatively straight forward. Your mission is what you do, not an abstract concept, but simply a reflection of your core capabilities.
A single goal, qualitative or quantitative, and always measurable, which clearly supports the mission, and aligns the whole organisation. The Goal may change over time, but often stays in place for extended time periods. The Goal is owned by the CEO, supported by her objectives, and ultimately also those of the entire organisation.
Once the Vision, Mission, and The Goal have been set, proceed to negotiate Objectives between managers and their reports, starting with the CEO, executives, and subsequently trickling throughout the entire organisation. Starting from the top means that every Objective is aligned with a higher order Objective, culminating in the CEO’s Objectives, The Goal, Mission, and Vision.
Once objectives have been set, by negotiation, and with agreement of both managers and reports, employees may then set their own key results. Ideally, Key Results should be linked to real time company metrics, and require only minimal manual updates. Key Results may be qualitative or quantitative, but are always measurable.
Whether OKRs are your thing or not, organisations using Gtmhub can align everyone and everything to fulfil their shared purpose. Request a personal demo to get started with Gtmhub today.