There is no standard way to write Company OKRs. Company OKRs do have specific jobs to do though, so when writing your OKRs you bare these things in mind.
Company OKRs should unify and focus your company – there should be no ambiguity around where you want teams to focus.
Company OKRs should communicate and measure your strategic pillars and priorities – because OKRs are an invitation to align, you need to make sure that what teams are being asked to align with is strategically important with revenue, profit and market share not being strategic, and instead being how you will measure the success of your strategy.
Here is an example of an approach that can work well. Set one high level OKR for your strategic intent based on lagging KPIs like revenue, profit, market share and customer satisfaction.
How you are going to deliver your growth, profitability and market leadership is the job of strategy. These lagging indicators are how you will be able to tell whether your Strategic Company OKRs are working.
Strategic Company OKRs are where you are sharing:
These are the OKRs that are going to be launched to the company in meetings like a town hall, after which teams are going to spend a lot of time considering how they will support these strategic OKRs.
Perhaps these OKRs might be very customer and product centric, or outline a specific go to market approach that will give you an advantage, or an approach to how you create a culture of amazing talented people that will give you a significant competitive advantage.
In order to help the company achieve these Strategic Company OKRs you want teams to consider and propose their OKRs based on answering questions like:
From this thinking you can decide what to resource and what not to, and then move to execution.
This is a 15 minute executive briefing on what is needed to successfully use Objectives & Key Results (OKR) to deliver your strategy, increase performance, & improve culture.
The best Company OKRs are created from your company Strategic Pillars. A good way of expressing and sharing your is using Strategic Pillars. These are your areas of focus or ‘battlegrounds’ you’re aiming to win. For example your strategy could be more value based, which is good for cross-functional and departmental OKRs e.g.:
STRATEGIC PILLAR: Product Value – We’ve a genuinely loved product
Customers are buying our solution rather than competitors, using it, and keeping it.
OBJECTIVE – We make something difficult really easy and we’re loved for it
KEY RESULT 1 – Increase quote to closed : won from 31% to 45%
KEY RESULT 2 – Increase Weekly Active Users from X to Y
KEY RESULT 3 – Increase retention to 95%
STRATEGIC PILLAR: Customer Experience – Customers have a real affinity for us from first contact with Sales to long-standing customer – your experience is always amazing.
OBJECTIVE – CX is high at every interaction so we keep customers and they spread the word
KEY RESULT 1 – Increase CSAT to 95%
KEY RESULT 2 – Product reviews show all of our products as 4.5 stars or above
KEY RESULT 3 – Reduce Churn from 4% to 2%
STRATEGIC PILLAR: Fastest Delivery – Customers want what they want, now
To complete we need to fulfil orders in record times.
OBJECTIVE – Provide the fastest delivery in our category
KEY RESULT 1 – Over 95% of items customers want are in-stock
KEY RESULT 2 – Deliver over 85% of orders next-day
STRATEGIC PILLAR: Customer Choice – Customers want us to provide choice. Choice means our customers don’t need to shop elsewhere.
OBJECTIVE – Provide the most choice in our category so customers think of us first
KEY RESULT 1 – Increase our product range by X
KEY RESULT 2 – Increase the Average Annual Spend Per Customer from X to Y
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The final advice we’d like to share when thinking about Company OKRs is that you also need to commit to OKRs and the working practices that help them embed. Processes like check-ins where you share problems.
You need to lead be example, then everyone else is more likely to follow your lead and commit as well. This means your company OKRs have a better chance of being delivered, and you will have helped increase your employee engagement levels and agility.
ZOKRI has worked alongside industry experts to create intuitive OKR software that provides companies with the tools and features to make OKR embedding and adoption easy in your company.
With ZOKRI teams can measure, share and work on what matters, & improve performance quickly. A ZOKRI account ensures everyone knows and feels that they really matter.
Company OKRs are the foundation of your plans to grow and increase marketshare. When they are planned and written well they will not only direct your teams, they will inspire your teams.
At the core of your company OKRs is strategy not a revenue target. You can read more about the strategic planning process here. This resource outlines a 10 step process that can help you arrive at your Company OKRs.
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