This books drives home the power of setting realistic yet stretched goals. A must read for any Individual who wants to out perform himself and any organization that wants to out perform itself.
Where do I want to go? This answer provides the objective.
How will I pace myself to see if I am getting there? This answer provides the milestones, or key results.
Tips for writing Objectives:
Every individual can have more than one objective. Its best to limit yourself to 3-5 objectives.
Objective just like goals are personal to every individual, hence two objectives cannot and should not be identical.
Use tangible, objective, and unambiguous terms. It should be obvious to an observer whether or not an objective has been achieved.
Objectives should not rigidly cascade from level to level, this kills flexibility down line to set and alter Objective set by individuals.
Tips for writing Key Results:
Determine 3-5 Key Results per objectives, no more.
Key results should describe outcomes, not activities. If the KRs include words like “consult,” “help,” “analyze,” “participate,” they’re describing activities. Instead, describe the impact of these activities
Key Result writing must ideally be done by the individual himself, in the initial stage the boss should not suggest more than 50% of the KR’s.
KR’s must be divided into committed and aspirational with clear demarcation
"Transparency seeds collaboration"
Tips For Implementation:
Get the right people in the right seats and right sizing the organization.
Determine and write Job Descriptions for every position, to bring about clarity
Clearly and openly communicate the company wide OKRs.
Scorecards - An important step for evaluation:
Every individual must self grade himself on a bi-monthly basis, to show how he has performed in comparison to the goals set by him.
You can follow a grading scale of 1-10
0-3 RED
4-6 YELLOW
7-10 GREEN
These scores must then be challenged by the boss / any objective peer to analyze if the goals set were too easy or too ambitious.
Communication, Feedback and Recognition. These are critical requirements for making OKR’s a success. Have a scheduled quarterly meeting with all your subordinates to discuss their personal goals and how they are planning to upscale themselves. When your pears grow, you grow and in turn the organization grows.
"IDEAS ARE EASY. EXECUTION IS EVERYTHING" - John Doerr.
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