Shared OKRs are a core concept of the Objectives and Key Results framework. By sharing objectives, organisations can create alignment and focus across the company.
It’s simple to create company-wide OKRs in Weekly10. These will be visible to all employees. Any department, team or employee can choose to align their own OKRs through to this company-wide level OKR.
You will need to be an admin to create company-wide OKRs, but the process is simple:
- Go to the ‘Organisation’ tab and select ‘OKRs’
- Set scope to ‘Organisation’
- Click on ‘Create OKR’
- Enter a description and start and end date. This should be a high-level strategic objective for the company-wide
- Enter at least one Key Result which will measure success against this objective. We would suggest focussing on output rather than effort in the metric chosen. More details about OKR units can be accessed here.
- The baseline value should be the starting point (for example $0 revenue) and the target value the final aim ($1,000,000). OKRs should be stretch targets and as a result are expected on average to hit around 70% of target.
- Enter a ‘Responsible Person’ who will be assigned the responsibility to update this KR on a regular basis (it will not form part of their personal OKRs.)
- Click ‘Save’
- The OKR will now be created and visible within the current dashboard
The Key Results will be updated either via the OKR screen and/or via the Weekly10 check-in (by the responsible person). The progress of the OKR will be calculated on an evenly weighted basis from the Key Result progress as a %. As always, OKRs should be stretch targets and hitting 70% is deemed as success.
Editing Company-wide OKRs
OKRs can be edited at any point by an admin user by selecting the ‘Context’ menu on the right side of the screen. An audit trail is maintained.
Updating Company-wide OKRS
The responsible person will be asked to update the progress of OKRs during their regular check-in. The progress of the OKR can also be updated from the OKR screen by selecting ‘Update OKR’ from the context menu.
Completing or archiving OKRs
An admin can archive (or complete) an OKR from the ‘Context’ menu at any time. This will mean no further updates of the OKR will be recorded.
View OKR progress
You can view the progress of an OKR at any point by clicking on the progress circle or from the context menu by clicking on ‘View Progress’. This will display a progress chart and breakdown of each update provided against the Key Results.