OKR Notes

OKR.md

• OKRs:
  1. Publicly available to the entire company
  2. Not directly related to performance evaluation
  3. Set, reviewed, and revised quarterly and annually. (some even do a rolling monthly review)
• Objectives:
  1. Guideline: limited to 5 objectives
  2. Usually qualitative and inspirational, designed to push.
  3. Examples: a. "accelerate revenue growth" b. "Pwn the direct to business coffee retail market in the south bay" a. "Launch an Awesome MVP" a. "Transform Palo Alto’s Coupon-Using habits" a. "Close a round that lets us kill it next quarter"
  4. Must link to: a. the OKRs at the next level up a. what the individuals a level down want to work on
  5. Mostly (60%) set by the individual
  6. Objective score is the straight, equal weighted average of the key results grades (avoid weighting)
• Key results:
  1. Guideline: limited to 4 key results per objective
  2. Must be measurable (ex: launch a new product or feature; achieve win rate of x%)
  3. must be time-bound
  4. Should be a little uncomfortable so that you are always striving (essentially, a personal, quarterly BHAG)
  5. Self-graded quarterly (they should average 0.6 or 0.7 so there is room for improvement; 0.4 or below is bad, but a learning opportunity, not a failure)