Objectives and Key Results (OKRs) Template

OKRs represent Objectives and their corresponding Key Results.

Transparency is crucial for OKRs, encompassing all levels: top-down, bottom-up, and cross-functional. By aligning everyone around the same framework, individuals can collectively work towards common outcomes.

Objectives serve as a remedy for vague aspirations, providing a means to articulate desired achievements. They are substantial, tangible, and serve as catalysts for action.

Key results outline the path to achieving those objectives. These quantifiable and measurable goals act as benchmarks for progress. They represent specific outcomes or results in absolute numbers.

Why set OKRs?

You and your team can leverage OKRs to:

• Provide clarity on major goals specific to departments or disciplines.
• Enhance communication and prioritize cross-functional collaboration.
• Foster transparency and simplify complex ideas, ensuring everyone understands their contribution to broader company objectives and priorities.
• Establish measurable indicators for tracking progress and enabling teams to adapt and respond to changes.
• Focus collective efforts, fostering alignment and collaboration to transform individual initiatives into cohesive and consolidated endeavors.

Teams that commit to achieving their Objectives and Key Results (OKRs) should ideally align their stakeholders with results based on quarterly allocated funding. The aim is to mitigate risks while setting ambitious and impactful quarterly goals, emphasizing value for both customers and the business.

Create your own OKRs

To create your own OKRs, follow these steps:

1. Utilize FigJam's whiteboard tool to easily create and share your team's OKRs. Start by selecting the OKR Template.
2. Begin by mapping out your team hierarchy. Clearly identify which teams are responsible for each OKR by editing the text inside the shapes and adding the names and titles of the individuals in your organization.
3. Add the primary objectives that drive your company or team to the top rectangle or shape.
4. Specify the OKRs for each team based on their respective function and role.
5. Fill in the measurable Key Results in the boxes below the objectives.
6. Use color coding to easily identify which team is responsible for each OKR.
7. Remember that Objectives should be concrete goals and can be set ambitiously, while Key Results must be measurable and include actionable points.
8. Ideally, involve your team in the OKR planning process. Allocate dedicated time and conduct a smooth session using FigJam's visual collaborative platform.

What is the difference between OKRs and KPIs?

OKRs are established to guide the strategic direction and implementation of initiatives throughout the organization. The definition of an OKR directly influences the KPIs, which serve as measurable indicators of project performance. OKRs and KPIs differ in their purpose: OKRs define the goals of the company and outline the steps to achieve them, while KPIs evaluate performance by assessing the effectiveness of the agreed-upon approach.

What are the three important elements of OKR?

When establishing your OKRs, it is essential to consider the strategy or vision of your business or organization (objective), the desired outcome to be achieved, and the measurable actions that each team must take to accomplish the OKR (key result).