A few weeks ago, we shared a blog about Sankalpa – setting meaningful intentions, infused with purpose, enabling a move beyond task-oriented goals to the creation of lasting, values driven impact. To follow this up, the team suggested sharing some insights on setting meaningful Objectives and Key Results (OKRs).
After having written about embodying our goals and aligning them with our values, this subject sounded a little dull in comparison – more prosaic, less soulful.
But as it turns out, OKRs are far from dull. Where OKRs are set well, “magic is around the corner.” Magic?Yes! Who says so? Bono! Bono? Yes!! Read on to find out how values, meaningful intentions, OKRs, magic and Bono fit together, more seamlessly than you could have imagined.
OKRs became a thing back in the 1970s when Andy Grove, CEO at Intel, taking inspiration from Peter Drucker (who introduced the idea of Managing by Objective), highlighted the value of measuring achievement using Key Results. They became a more prominent thing when John Doerr encouraged their use within Google in 1999. I think you know how that turned out.
OKRs are made up of 2 elements:
- Objectives – the “what”, the achievements we want to accomplish
- Key Results – the “how” measurables that tell us if we did it, and how well
In his TED Talk entitled “Why the secret to success is setting the right goals” John Doerr explains this simple approach but emphasises an important additional aspect – the “why”. To set OKRs the right way, it is vital to address this element. A compelling sense of purpose combines our ambition, passion and motivation, and provides the launchpad for objectives.
So here is our link back to purpose and values. OKRs are like transparent vessels, says John Doerr, ‘they are made from the Whats and Hows of our ambitions. What really matters is the Why we pour into those vessels. That’s why we do our work’.
But what about Bono? He uses them too in his charitable work. With passion, this type of OKR framework, the right environment and the right people, ‘magic is around the corner’ he says.
Our tips for setting meaningful Objectives and Key Results originate from John Doerr’s work. Here they are:
- Objectives should be significant, action oriented and inspiring
- Key Results should be specific, timebound, aggressive yet realistic, measurable and verifiable
- Effective OKRs are underpinned with a clear sense of purpose, which inspires the team
Are you seeing the magic unfold? We’d love to know.