OKRs is our effort of making sure everyone knows what’s expected of them at work. OKRs are supposed to be public so that everyone moves towards the same goals and are aware of what others are working on.
OKRs consist of a list of 3-5 high level Objectives. Under each Objective there should be 3-5 measurable Key Results. Each Key Result can be measured on a score of 0-100%.
OKRs should also be updated daily and revised on the 2nd of every month
Objectives
Should be ambitious, qualitative, time bound and actionable by the person or team.
Key results
- quantifiable, achievable, lead to objective grading
- be difficult, but not impossible
- can be based on growth, performance, or engagement
- often they are numerical, but they can also show if something is done or undone
Once defined, communicate your Objectives and Key Results to everyone. If needed, tune the wording together so everyone has a common understanding.
When it’s considered done?
An objective is considered done when 70-75% of its results have been achieved. If 100% of objectives results get done, it may not be ambitious enough.
- Review OKRs regularly, as needed. Be flexible. If your company, team, or personal goals change, feel free to change the OKRs as well.
Setting OKR at Bukit Vista
Company theme
- Company theme for next month will be announced on the last All hands of the month
Squad theme
- Squad member discuss about main problem and what will be the focus for next month
- The theme also should be supporting company theme
- Every member of the squad bring a list of problems to be discussed in their chapter
Chapter OKR suggestion meeting
- Chapter member discuss problem they have on each of their squad and gather a list of possible objective that can be proposed to their squad
- Chapter member share experience, best practice, and new ideas to solve squad problem
- Chapter member back to squad with objectives that support squad theme
Squad OKR
- Every squad member propose their objective based on the one discussed and suggested on chapter meeting
- Other squad member will give feedback and make modification to fit squad needs
- One objective can be set for one or multiple squad member, each with different key result based on their chapter
What is the difference between KPI and OKR?
KPI’s (Key Performance Indicators) – Are a set of statements that prove whether a given project is successful or not. KPI’s are mostly used for a specific project and each project will have their own KPI’s
Meanwhile OKR’s are used to make sure that the actions being taken within a time frame by an individual, eventually lead Bukit Vista towards it’s goal of being the most innovative hospitality company.
OKR’s are a personal set of goals for a certain time period while KPI’s are project goals.