Workpath has developed an intuitive OKR spreadsheet template that can be used to document your company’s vision, mission and strategic initiatives. With this, organizations can derive and draft their annual goals as well as goals for the quarterly cycles (Objectives) with their respective Key Results at the top-management and team levels.
It is not always necessary to invest in new software when a new goal or outcome management framework, such as Objectives and Key Results (OKR), is introduced. For some, especially smaller companies, a good template is a great first step for approaching OKRs.
OKR is a goal-setting method for organizations. OKRs help companies execute strategies faster and more effectively by providing measurable goals, creating transparency and alignment, and improving employee engagement.
OKR stands for Objectives and Key Results.
Important to keep in mind is:
- OKRs combine long-term strategic artifacts and KPIs with the operative level of strategy execution.
- They are divided into set (quarterly) cycles and can be adapted and improved with each cycle.
- Through metrics and data, companies can continuously learn from OKRs. They can be understood as an adaptive process instead of a rigid one.
- OKRs contain set goals for the organization and individual teams.
- They are independent from individual performance management.
The structure of OKRs is simple. Each OKR includes an Objective that is divided into multiple Key Results.
Objectives are ambitious goals that describe a qualitative desired outcome. They provide clear guidance and are intended to motivate all participants to work towards those goals. In other words, the Objective tells you where you are going.
Important characteristics for good Objectives include:
- Qualitative: no numbers or percentages
- Ambitious: 70–80 percent goal achievement is very good
- Directional: clear guidance for the organization
- Attainable: realistic for the given timeframe
Key Results describe the leverage you will use to reach your Objectives. They are measurable results that indicate if you are on the right track for reaching your goal and if you will reach it. Key Results usually have a start and target value to measure how well you are progressing along the way. This makes it clear at all times how close you are to your end goal and whether you need to do something else to achieve your goal.
Important characteristics for good Key Results include:
- Measurable: “It’s not a Key Result unless it has a number.”
- Specific: Clearly formulated and easy to understand
- Relevant: Does my Key Result contribute to the Objective?
Process oriented: Progress must be recognizable
The Workpath Template for Objectives and Key Results (OKRs) helps you test OKRs for your company and introduce them in smaller teams. It is ideal for organizations that are new to using OKRs as a method of goal and performance management. With this template, an initial list of Objectives and Key Results can be created. These can be derived from the object of the company, strategies and medium-term goals. The template can also help you to regularly measure the progress of your goals at the organizational and team levels.
Here is a brief overview of the contents of the template and how you can work with it:
In the introduction, we will explain step by step how you can use the template. One important point: The spreadsheet should be downloaded in full or duplicated so you can work with it.
We have also added links to plenty of other helpful resources to help you work with OKR.
2. OKR input
Time to get started! In the second tab, you will receive the necessary information for drafting your team OKRs.
3. OKR example
To help give you even more confidence for creating your OKRs, the “OKR example” tab gives you an idea of what OKRs might look like for a marketing team.
At the very top of the sheet, you will get an overview of which OKR Cycle your team is in as well as the team’s overall progress. This is calculated based on the goal progress of all OKRs in the table below.
ATTENTION: We have added some dummy numbers here which are also taken into account in this calculation. You will need to reset these numbers to 0 or your actual values.
In the section below, you will add your priorities, relevant customers, resulting value and the desired future state from which the Objectives will be drafted. The Objective will be automatically transferred to your final OKR overview.
You can then proceed similarly with the Key Results. Using the (value) promises, you will arrive at your concrete, measurable Key Results, for which you can set start, target and current values. At the end, this will be used during your regular Check-Ins to measure your goal achievement. You can also add a confidence level (1–10), define an Owner and leave comments on individual Key Results.
Especially helpful: Thanks to the color scheme from green to red, you will always have a quick overview of your goal achievement.
4. Goal page
The Goal page gives you an overview of all organizational, departmental and team OKRs, including goal progress. This is especially helpful for managers to get a good overview quickly or for other teams to get a brief overview during cross-team meetings.
5. to 9. Organizational and team OKRs
You can find empty templates for your OKRs under tabs five to nine. These are, on the one hand, for the organization’s overarching OKRs and, on the other hand, for the respective OKRs of each individual team. If you are working with more than four teams, you can simply duplicate the sheets. Just don’t forget to integrate them into the Goal page!
Looking for more templates to help you work with OKRs? In our article “The Check-in Meeting: Success Driver of Effective OKR Systems,” we put together a few tips and added a simple Check-In template for you.
What is an OKR template?
The Workpath OKR Template is a spreadsheet that can be used to document your company’s vision, mission and strategic initiatives. With this, organizations can derive and draft their OKRs at the top-management and team levels and track their execution.
How do you write good OKRs?
To effectively create team OKRs, it is essential to always keep the overarching company goals in mind. This is the only way to ensure the holistic strategy is executed in a meaningful way. When drafting Objectives, it is important to adhere to their basic characteristics. They should be qualitative, goal achievement should be ambitious, they should be directional and they should be attainable in the given timeframe. When drafting Key Results, it is important that they are measurable, specific, relevant for their respective Objective and process oriented.
What is an example of good OKRs?
An example of a good marketing Objective is: “The target group finds our content interesting (1) and high quality (2), which leads to them wanting to learn more (3) and attracts other thought leaders (4).” Four Key Results can then be derived from the Objective. “Interesting” (1), for example, could be measured using click rate. The respective Key Result would be something like: “The click rate increases by 2 percent per week.”
How do I monitor OKRs?
OKRs can be tracked using appropriate software, such as the software from Workpath. This helps you to continuously keep an eye on goal development and take appropriate action for improving collaboration and goal achievement. However, investing in a software when introducing OKRs is not a must. For many, especially smaller companies, a good OKR template in the form of a spreadsheet is a great first step for testing out the framework.
Discover more OKR templates and helpful information in the Workpath Library.