Objectives and Key Results (OKRs) Template
Use the OKR Template to bring clarity and structure when setting up your business goals. Align teams and work towards the same vision.
About the OKR Template
The OKR Template helps you align company strategy for the financial year, set goals for you and your team, and align everyone towards the same objectives and key results.
This framework brings clarity, focus, and structure, and it exists at two primary levels: strategic and operational. The OKR Template allows you to have a great overview from the top down, providing everyone with actionable points so the company’s ultimate goals are achieved.
Keep reading to learn more about the OKR Template.
What is an OKR?
OKRs are Objectives and their related Key Results.
OKRs should be transparent to everyone: top-down, bottom-up, and cross-functional. When everyone’s looking at the same framework, everyone has the opportunity to work toward the same outcomes.
Objectives are the antidote to “blue sky thinking” – they aim to help you articulate what you want to achieve. An objective is significant, concrete, and drives you to get things done.
Key results explain how you’ll get those things done. Specific and measurable, these quantitative goals act as benchmarks for how you’ll reach an objective. (Think outcomes or results in absolute numbers.)
Why set OKRs?
You and your team can use OKRs to:
Clarify major goals according to department or discipline
Communicate clearly and focus on what’s important for cross-functionality
Practice transparency and simplify big ideas so everyone understands how they contribute to bigger company goals and priorities.
Sets up indicators for measuring progress, so that teams can adapt and adjust to change
Focus efforts, so everyone stays aligned and cross-collaborative, and turns competitive initiatives into combined and consolidated efforts
Teams that commit to completing their Objectives and Key Results (OKRs) should ideally point their stakeholders to results based on funding allocated per quarter. The goal is to reduce risk, yet still set ambitious, bold quarterly goals, focusing on results over outcomes while putting value for both customer and business front and center.
Create your own OKRs
Creating your own OKRs is about defining your key metrics, then bringing your team on board to raise the visibility of this framework company-wide.
It’s simple to make them with Miro’s whiteboard tool, where you can easily create and share your team’s OKRs. Begin by selecting the OKR Template, then take the following steps to make your own.
Here’s how to get started:
Map out your team hierarchy.
Write from top-down which team is responsible for each OKR. You can edit the text inside the shapes to add the names and titles of the people in your organization.
Add the primary objectives driving your company or team on the top rectangle or shape.
Add the OKRs for each respective team, according to their function and role.
Fill in the measurable Key Results in the boxes below.
Color code teams so you can see at a glance which team is responsible for each OKR.
Remember: Objectives are concrete goals, and you can set them ambitiously; Key Results are always measurable and contain actionable points.
Ideally, you should do your OKR planning together with your team. Set some time aside and run a smooth session with Miro’s visual collaborative platform.
What is the difference between OKRs and KPIs?
People create OKRs to direct their strategy and execution across the entire organization. What you define as an OKR will directly impact the KPIs (key performance indicators), which are the metrics indicating project performance. OKRs differ from KPIs because they state your company’s goals and show how to make them happen. In contrast, KPIs are metrics evaluating performance, that is, assessing if the way you agreed to proceed is working or not.
What are the three important elements of OKR?
When you set your OKRs, it’s crucial to have the strategy or vision of your business or organization (objective), the result you want to achieve, and the measurable action that every team needs to take to reach your OKR (key result).
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