Product Management

Examples of OKRs

By July 29, 2018 No Comments

OKRs stands for objective and key results. The most common question come under OKRs are

  • How to write a good OKRs?
  • What should i put in my OKRs?

To get these questions answered, i will give you a set of examples so you can get started and can stratizie your own OKRs. It will cover everything from company, marketing, sales, engineering etc.

For example:

Let’s say you have a clothing franchise, and more than 80 stores are spread throughout the

country.

As the CEO of the company, your responsibility would be to set 2 objectives:

  • Increasing the number of stores by 10%
  • Increasing the profits by 5%

These objectives raise the following question:

Where do i want to go and how will i get there ?

By just keeping a count of number of stores i’ve opened and checking the financial indicators these questions can’t be answered. It is important that to check the key results which will determine the progress of the actions that leads towards the objective.

Objective 1: Increase the number of stores by 10%

Key results:

  • open 10 stores before october
  • Have at least 20 new franchise candidates
  • Sign contract with 25 of them
  • Train 15 of them before july

Keep a track of these numbers and it will let you know what you are getting towards.

objective 2: Increase the profit by 5%

Key results:

  • Have a supplier registration reserve auction system and save 5% on purchase
  • Reduce the cost by 25% by outsourcing the distribution.
  • Have seasonal campaigns during special occasion like mother and father’s day, etc

With OKRs the employees know exactly what they have been doing and what they have to achieve and for which what action should they be taken. Everything is transparent with OKRs.

Okrs goals examples

 

1. For Companies

Objective: Build a corporate culture that is delightful to employees

Key results:

  • Interview 20 employees every month for improving the work culture
  • Conduct a Q&A session with 5 employees every month
  • Set a 2 ways process feedback with employees
  • Reach the employee satisfaction score by 5% every month

2. For Marketing

Objective: Achieve the sales record in all the areas of marketing

Key results:

  • 170000 website visitors  ( out of which 55000 visited )
  • 23000 signs up ( out of 8500 signed up )
  • 7500 trials ( out of 1590 achieved )
  • 3500 new paid customers ( 1000 new paid customers received )
  • Maximum paid per acquisition cost of 25$ ( 4$ paid )

Objective attained is 27% as per the data. More efforts are required to achieve better results.

3. For sales

Objective: Improvement in the sales process activity indicator

Key results:

  • Increase in the number of calls per sales person by 6300 per quarter ( 2000 calls )
  • Achieve 315 demo calls per quarter per salesperson ( 93 calls)
  • At least 33% of online signups ( 12% reached )
  • Set salesperson spending at least 48 hours on support chat ( 33 hours)

Objective attained 33% as per the data.

4. For finance and management

Objective: Raising new capital for growth needs

Key results:

  • Approach 100 venture capitalist and seed funds ( 25 VC )
  • Get a 30 seconds contact meetings or conference calls ( 12 seconds )
  • Have at least 3 term sheets of the minimum required terms ( 1 term sheet )
  • Close the investment round with minimum of $10 million pre money ( $6 million)

Objective attained 39% as per the data.

4. For product

Objective: Research, analyze and understand what our users and non users really want

Key results:

  • 50 phone Interview to be conducted by sales team with key accounts ( 21 phone calls )
  • Support team conduct 50 phone interview with churned accounts (19 interviews )
  • 25 external team leaders to be interviewed by product manager (15 leaders
  • Design team to conduct 30 web based user testing sessions on new and old users (9 sessions)

Objective attained 42% as per the data.

5. For Human Resources and support

Objective: improve satisfaction with receptionist work

Key results:

  • Decrease the number of complaints and negative feedback per quarter from 15 to 5 ( 5 negative feedback )
  • Increase the number of positive feedback from 5 to 15 quarter ( 7 positive feedback )
  • Improve the end user satisfaction ranging from 4.0 to 4.5 ( 2 satisfaction rating )

Objective attained 40% as per the data.

6. For administrative

Objective: Improve our document and information management procedure

Key results:

  • Set a better system for tracking incoming requests  (40%)
  • Software review for incoming documents tracking  (59%)
  • Compiling a weekly “office highlights” newsletter for all team members  ( 41%)

Objective attained 46% as per the data.

7. For Design

Objective: Promote our design as the best place to work

Key results:

  • 5 external design competitors to be applied ( 1 competitors )
  • Have open source designs and UI/UX freebies  ( 1 freebies )
  • 3 monthly meetups to be conducted for designers in our office ( 0 meetups )

Objective attained 23% as per the data.

8. For Tech

Objective: Review and improve the data security procedures

Key results:

  • Review and learn the security policy for 5 companies ( 1 company )
  • Conduct external penetration testing using at least 2 different software packages ( 1 package )
  • Implement Backup policies ( 51 %)
  • Guarantee uptime and availability of 99.95% ( 60 uptime )

Objective attained 45% as per the data.

9. For Education

Objective: Design and launch internal employee academy

Key results:

  • Conduct survey on 15 team leaders on educational needs and gaps ( 4 leaders )
  • Talk to other companies 3 HR directors on they do internal education ( 1 HR directors )
  • Have 10 training modules and design content for each ( 4 modules )
  • Conduct the first 3 offsite team  to test out the academy curriculum ( 53%)

Objective attained 38% as per the data.

 

Sonam Kedia

Sonam Kedia

I keep exploring new ways of content which influence people to live a better life. Travelling is something I cannot resist.

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