ALIGNING OUR TEAM TO WORK TOWARDS THE SAME YEARLY GOALS
Objectives & Key Results • Goal Setting • Strategic Planning
About OKRs
OKR stands for Objectives and Key Results. It is a goalsetting framework we implemented mid-2019. The framework encourages the involvement of every team member. We set goals, which are aligned across the entire company, and implement initiatives to reach those goals together.
4
new objectives each trimester
68
key results in 2021
>70%
of the KRs are successful
Viktoria Orlinsky
Growth Marketing Trainee
TheVentury
How we made it happen
Challenge
Approach
Implementing OKRs brought the transparency and necessary communication regarding the company’s development to the team. We started by trying out different approaches based on literature and exchange with other companies. Finally, we found our own OKR structure which checks all the boxes we need.
By working in trimesters we allow enough time for defining our OKRs. This way we make sure that plenty of thought goes into the right goals.
First, we have the Objectives. They are set on a company level and align all team members to work towards the same desired outcome.
Second, there are the Key Results. These are the measurements behind each objective. We set them in individual sub-teams (circles) to allow for flexibility and different approaches when working towards the Objectives.
Finally, we use Initiatives, which the individual Key Result Owners define. They coordinate them with all other circles to make sure that we are tackling challenges aligned.
Result
Today, every Venturer knows the team’s OKRs and which strategy the company is following. The entire team is collaboratively working on the company’s development. Therefore we can celebrate the successes together and also learn from the challenges.
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