Businesses are always searching for the best way to efficiently set goals to develop long-term marketing strategies, communication tactics, and workplace ideas that lead to constant growth in the company. The most successful corporations often use organizational methods, such as OKRs, to boost productivity and meet their goals.
OKRs, or Objectives and Key Results, can help individuals, businesses, startups, entrepreneurs, and large corporations perform better by organizing better. Most importantly, OKRs help companies increase their effectiveness to achieve the same results with less workforce energy and time.
Let’s see some OKR success stories – why they worked, what methods they utilized, and the results of using this business strategy to their advantage.
Read Examples Here of OKR Success Stories
Siroop, an online marketplace in Switzerland successfully used OKRs to organize their business, increase productivity, and boost workplace morale. OKRs, when used properly, can positively impact the company’s culture by improving the confidence employees have in their management staff.
Read examples here of how Siroop used OKRs to better their company. At Siroop, different teams work on their own to reach a common goal, with individual teams and groups all aligned with the company’s overall objectives to avoid confusion and errant work. Therefore, creating an OKR helps link everything together within a corporation.
Define the Goals
The first step in creating the OKR at Siroop is to define the goals. Read examples here of some common business goals that are widely used, regardless of the sector:
- Improve customer retention
- Improve in-product onboarding process
- Improve long-term relationship with customers
- Research and understand why customers turn into long-term clients
- Get a 30% response on the survey
- Analyze responses to the survey and choose 2 issues to improve
- Make the office environment friendly and a desirable place to come to work every day
- Obtain feedback from 80% of employees on improvement ideas
Create team OKRs
The next step at Siroop is for each individual team to create their own unique goals per quarter. Team contributions help the company achieve the overall goals, but each individual team needs to meet their specific target to help the business move towards completing the overarching OKRs.
Read examples here of some individual and team OKRs for companies:
- Improve internal document management system and user interface
- Implement folder structures to avoid confusion
- The team must consolidate 100% of documents into the new structure
- Collect feedback from the team regarding the new structure
- Create improved pricing for your team’s product
- Improve user retention rate to 50%
- Decrease sales cycle to 3 weeks
Choose an OKR Champ
The final step for creating and implementing OKRs at Siroop was to choose an ‘OKR champ.’ This delegated person checked in with various team members and set up shared OKRs with other teams.
Siroop also decided to choose an ambassador, who met with different department heads to discuss feedback from the other teams, provide guidance to the teams struggling to meet OKRs, and improve the efficiency of the teams behind the ball.
Siroop was one of the OKR success stories, improving from the organization, communication, and strategy implemented across the board. Read examples here of other businesses that thrived after implementing this method in their corporation.
Most Popular OKR Success Stories
Chances are you’ve heard of the most popular OKR success stories. Read examples here of the most popular businesses that found an increase in their productivity, efficiency, organization, and sales from utilizing the OKR method to drive user retention.
Rick Klau of google venture created an OKR basics lesson – a video that has now been played across the world. Google used the steps in this video to build their empire from 40 people to around 70,000 employees. The OKRs Google established focused on their core belief of individuals having a shot in achieving lofty goals.
Read examples here of Google’s OKRs that shot it into superstardom:
- Organize the world’s information to make it universally accessible
- Achieve the quarterly goals to become the most successful search engine
Jeff Weiner brought in an OKR strategy when he became CEO of LinkedIn. While using this proven method, LinkedIn achieved its $20 billion IPO goal and was acquired by Microsoft, helping expand the company quickly. LinkedIn’s OKRs focus on effective communication and outlining priorities.
Read examples here of how LinkedIn successfully used OKRs at the beginning of their reign in the business and hiring world.
- Create an economic opportunity for every professional in the global workforce
- Connect the world’s professionals to make everyone more productive
Read examples here of commonly used OKRs
There are commonly used OKRs across various business categories, such as accounting, administrative, customer service, design, and many more.
Administrative OKR Examples
- Improve information management process
- Increase on-time delivery process from 80% to 100%
- Reduce inventory stock error to less than 2%
- Increase production efficiency to 60% of max capacity
- Make the office a desirable place to work
- Receive feedback from 75% of employees on what can be improved
- Solve the top 2 problems identified by employees
- Confirm improvements during an in-person meeting with 8 employees
Business Development OKR Examples
- Expand to South American markets successfully
- Choose the top country for the first launch and sign a contract with 3 sellers
- Achieve an average order value of 30k
- Work closely with the resellers to sell out all first orders within 2 weeks
- Finish raising new capital for growth
- Get at least 1-minute contact meetings or conferences
- Choose an investment round
Design OKR Examples
- Become a hard-working and driven company
- Ensure all 5 teams participate in the onboarding presentation
- All 20 software layouts are updated with new guidelines
- All 5 teams have their work public and shareable
- Launch a user-friendly landing page
- Test existing landing page on 50 external users
- Increase call-to-action button clicks to 50%
Conclusion
OKR success stories don’t just happen overnight – they come from brainstorming the long-term goals and seeing what strategies have to be implemented to get there. Following the steps of Google, LinkedIn, and Siroop, you can read examples here of the most common OKRs to use to build your company.
