Coming up with good Company OKRs is hard and that's why it's important to always keep both your mission & vision and strategy in mind to stay on path. In essence Company OKRs simply narrow down the scope of your strategy translating it into smaller, more digestible steps.
Strategy is longer term and the options for making it a reality are unlimited. Company OKRs simply reduce the options and make execution concrete and directed.
Let's say for example that your 5 year Strategy is to become market leaders in France, UK and USA. How are you going to tackle this year by year? Do you want to take full charge ahead and cover all three regions at the same time or do you want to start with one region at a time and them move progressively towards the others? Company OKRs help you communicate these decisions, but give enough wiggle room for teams to decide how they actual plan to execute this quarter by quarter.
When creating Company OKRs keep the following in mind:
Keep them high level
Company OKRs are about providing direction as to where you want the Company to be at by the end of a specific timeframe (top-bottom), and letting teams decide how they'll make that happen (bottom-up).
When creating Company OKRs ask yourself, "is this something that most of the company can contribute to, or is this specific for a single team?" If the answer is "a single team", then this means that this OKR belongs to that team, and not the company.
A common mistake is thinking that Key Results in Company OKRs should be a breakdown of the metrics each one of your departments should hit. Company Key Results should be the high level metrics and not specific to a single department. Use metrics that almost everyone can impact, not just a few.
Break the status quo
OKRs exist to help company's evolve, while KPIs monitor the health of the ongoing processes that keep the lights on in your organization. However identifying if something should be added as a Company OKR or a Company KPI takes practice.
If you find that the OKR pretty much stays the same year after year, and the only thing that changes is that target in your Key Result, you're either dealing with a strategic result that you're fitting into a year, or you might have a KPI in your hands. Simply keep in mind that OKRs are meant to break the status quo and push the Company forward, not keep it as it is.
Communicate, communicate, communicate
The decision teams will make on what to prioritize will be dependant on the priorities established through Company OKRs. Add your Company OKRs to Perdoo to easily and constantly communicate these priorities across the entire organization. In addition, many customers schedule a town hall or an all hands meeting to discuss and share in detail why these OKRs are important, and why they're a priority. This helps clarify questions, reinforce expectations and create excitement.
Need inspiration? Check out our OKR + KPI Example Library.
Need help? We'll create your OKR for you.