What are OKRs?

• Metrics that should be measured in order to verify the needle is moving.
• Helps to make sure all departments are aligned with the company's goals and strategy.
• Allows to make data-based decisions.
• Should be outcome oriented (and not output oriented).
• Objective - should be defined as the goal you want to achieve on the company, department, or personal level. Each level is usually derived from the level above it, by decomposing a big goal into smaller, more obtainable goals.
• Key Results - should be defined as the way (the metrics) to know you have reached your objective. Key results should enable you to measure the results of the initiatives that will support the Objective.

What are possible tips for creating good OKRs?

• Objectives usually connect to the business strategy (Growth / Engagement / Monetization / Satisfaction).
• Key Results are metrics that relate to the relevant Objective (see the GEM(S) framework).
• Key Results can also be specific product metrics (e.g., number of clicks on a certain button).
• Key results must be measurable, including, what is the starting point, what is the destination, and how are you going to measure it. If you don't know how to measure it, then either find a simpler key result that is measurable or just let go.
• Key results are not a task list. They are not the output of your work, but rather the results you want to achieve. Try to switch verbs to the real outcome metrics.
• Binary (true/false) key results should be avoided. If needed, define intermediate steps and assign completion percentage for each step beforehand.
• Define quarterly key results, so it will be easier to define and track more realistic results.
• The most important thing key results should force you to do, is to think about your strategy for achieving these results, and as a byproduct, to understand whether these results are indeed achievable.
• Align between KRs and Initiatives (both top-down and bottom-up approaches are viable).
• Determine the baseline (which should be relatively fixed) for each key result.
• Try to set the key results as a stretch goal, meaning, there is a good chance of achieving 70% of the defined results, but only a moderate chance of achieving 100% of the defined results.
• Objectives and especially key results should not be just carried over from quarter to quarter.