Provide individuals an understanding of how their work contributes to company success
Specific objective can be motivating for teams
Widely used in the industry
Cons of OKRs
Hard to determine how quarter over quarter performance will affect specific metrics
Provides a false sense of certainty in the metrics outlined
Can "dummy-proof" the organization and not let individuals build with freedom
If you are going to leverage OKRs you can do so from your product strategy using the Strategy, Metrics and Tactics (SMT) framework.
To convert the SMT framework to OKRs, need to include an estimate of the proxy metrics. Be cautious in using these estimates and their "false precision".
Explain what tactics will be used to achieve strategy
Describe measurements used to define success
Reiterate the strategy each meaning
Organize the Team Into "Swim Lanes"
Break down larger org into smaller teams
Each leader will own a part of the strategy and tactics and use the metrics to keep track of the success
Each Swim Lane leader will present a one-pager which is a deep-dive into how their team will support the strategy
Keep to less than 20
Sample Attendees: CEO, Head of Product (Meeting Host), Product Leader for each Swim Lane, Research / Consumer Insights Leader, Data Leader, Design Leader, Tech Leader, Tech / Design Partners from Critical Swim Lanes
Product leader presents strategy
Qualitative / quantitative research and insights that impact critical results and / or multiple Swim Lanes
All Swim Lane Leads present their Swim Lane. Half the time is presenting the other half is fielding questions and comments
Recap of the "So-What's" (i.e., what matters) and the "Go-Do's" (i.e., action items from the meeting)
After the Meeting
Have a dinner or drinks to build sense of team
Conduct a survey of the meeting to determine efficacy
Share key results / insights at all-hands company meetings
Effective meetings should run like a movie with conflict, debate and eventual resolution.