What is an objective and how do I add one? (OKRs)

Learn how to add an objective.

This article will explain the different steps of creating an objective. 

What is an OKR?

- OKRs (Objectives and Key Results) is a goal system which aims to create engagement and alignment within a company.

- OKRs help to break down an overall goal into achievable steps.

- OKRs allow employees to understand what they are working towards, and for what cause. 

- Of course, all businesses set goals. But OKRs are an effective way to ensure that everyone is doing what they need to be to achieve the larger goal.

 

An OBJECTIVE is the overall goal.

KEY RESULTS are measurable results that must be completed for the overall Objective goal to be achieved. 

First of all, where do I add an objective?

- Select the '+' button in the navigation bar

- Select objective

 

Setting the owner

- Each objective must have an overall owner.

- This owner will be the person most responsible for ensuring that the objective is completed.

 

What are the different levels of objective?

Self-development: This will be an objective that a person sets for themselves. For example, someone who wants to set themselves the task of being able to code in Javascript. Please note: All self-development objectives are set to private and can only be viewed by the person who has set them.

 

Individual: An individual and personalised objective that a person sets for someone else. Please note: Individual objectives are set to public and so will be viewable by everyone.

 

Team: A team objective that is set (for example) by a team leader. E.g. The marketing team leader might set this to the marketing team: 'Increase conversions using social media platforms by 20%'. Please note: Team objectives are set to public and so will be viewable by everyone.

 

Company: A company objective is a large, overall objective that different parts of the company must work together to achieve. E.g. "Achieve a revenue of £1 milllion." Please note: Company objectives are set to public and so will be viewable by everyone.

 

Public vs Private objectives?

 

By default:

- Self-development objectives are set to private.

Individual, Team, and Company objectives are set to public.

 

If you want to make Individual, Team, or Company objectives private, you can do this by checking the following button:

 

How do I use 'Tags'?

- Just as with items and learnlists and channels, you can add 'tags' to make them easier to find.

- Add relevant tags to your objectives.

E.g. If you are setting an objective for the Marketing team, then add various tags related to this. 

How do I set when an objective is for?

Choosing the dates by quarter:

- You can choose out of Q1, Q2, Q3, Q4.

- If you select one of the quarters, the dates will automatically fill in.

- i.e. If you choose Q1, the dates will automatically fill in as 01 January 2020 - 31 March 2020. (See example below)

You can set preset dates in Company Setting> Objective settings:

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You can change the dates of each quarter to suit your own company:

- If your company has defined its own dates for each quarter, you can easily change each quarter dates to suit your own company by selecting custom dates.

 

Custom dates 

- If you want to set this objective to be completed by dates that are unrelated to quarters, simply select 'Custom dates'.

You will be able to later change the deadline by editing the objective:

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Key Results

Enter the Key result that you want to achieve.

Some examples might be:

- "Increase employee retention rate from 80% to 85%"

- "Increase annual revenue to over £1 million"

- "Sell over 500 packages per month"

 

What are the different completion types?

Mark as complete

- A user will manually have to mark the key result as complete.

- This is useful in cases where the objective is not quantifiable. For example, if the key result is to "Improve employee satisfaction" within the company.

 

Pass scoring

- This is useful for when the objective is quantifiable.

- For example (as seen below), if the target is to sell 500 packages, but you have already sold 200 packages, you can set it up as below.

 

Maintain value within a range

- This is useful if you want to add a bit of scope and flexibility to your key result.

- For example, if your key result is to keep employee retention between 80% and 90%, then you can set the values as in the example below. 

 

 

Marking as 100% if above/below the range

What does this mean?

- This means that the key result will be marked as 100% if the value is recorded as above the specified range (if you select upper) or if the value is recorded as below the specified range (if you select lower).

- For example, if a sales target has been set as selling between 400-500 packages, but in fact the salesperson sells 600 packages (i.e. above the specified range), the key result can still be marked as 100% since the salesperson has exceeded their targets.

 

Please note that you can choose from various symbols and currencies when setting an objective. 

Other settings

 

Contribute to Objective progress?

- Decide if you want this key result to contribute to objective progress.

- For example, if you have set 4 key results, then each one will contribute 25% to the objective progress.

 

Key result has its own dates?

- Above, you will have set the dates for the objective.

- Now you can choose whether each individual key result has its own date.

For example:

- Perhaps the overall objective is to make £250,000 of revenue. The date for this is end of Q4 2022.

- But first, the product needs to be created, so that any revenue can be made at all.

- So, a key result would be "Create and finish the product" by the end of Q2 2021, so that it can be demoed. 

 

Changing key result owner

- Select if you want to change the owner of the key result to a different person to the owner of the overall objective.

How do I add another key result as part of the same objective?

- Simply select 'Add another key result'.

- Fill out the same steps as above.

 

Notification settings

To learn more about notification settings, please read the following article: https://support.learnamp.com/knowledge/notifying-when-item-completed