The business world has woken up to OKRs, that much is clear. Use of this agile strategy implementation framework has rapidly expanded from a solid foundation in technology to an almost limitless scope encompassing everything from not-for-profits and startups to global retail giants.
But despite this roll call of big and small, startup and established, many organisations still find themselves asking the question of whether OKRs are right for them. And this, in turn, leads many people to search online for examples of OKRs used within their specific business type or sector.
Here at OKRAdvisory we’ve done the hard work for you, and collated a broad range of examples to demonstrate how the framework can be applied in specific use cases. We would always caveat however that every organisation is different, and that’s where we come in. We adapt OKRs to drive positive outcomes in a way that is specific for your unique business. But as a quick-stop sanity check, these examples should serve to validate why OKRs are right for you, right now.
Product Development
OKRs are flexible and can be adjusted as needed. If circumstances change, teams can modify their objectives and key results to stay in line with evolving business priorities. This adaptability is crucial in the dynamic and often unpredictable environment of product development.
Objective: Create a great mobile app user experience
KR1: Increase our App Store user rating from 3 to 4
KR2: Increase 60 day user retention from 35-45% through an expanded feature set
KR3: Decrease app load time from 3-2 seconds for 95% of users
Accounts
Finance often involves risk management and mitigation, and OKRs can provide a structured approach to identifying and addressing financial risks. Regularly reviewing key results and tracking performance allows finance teams to spot potential issues early and take corrective action.
Objective: Streamline our financial reporting
KR1: Decrease the time required to close quarterly accounting books from 7-4 days
KR2: Increase ratio of automated processes from 15-30%
KR3: Reduce level 1 accounting errors leading to rework from 3 to 0
HR
OKRs can be used to set objectives related to employee development, training, performance management, engagement and retention. This helps HR teams focus on initiatives that enhance the skills, capabilities and culture of the workforce, contributing to the overall growth and success of the organisation.
Objective: Embrace and strengthen an engaging and inclusive culture
KR1: Reduce turnover as a direct result of cultural factors by 25%
KR2: Increase our eNPS staff engagement score from 40-45
KR3: Reduce the number of overtime hours worked by permanent staff by 20%
Customer Experience
OKRs are set for defined time frames, encouraging a cycle of regular evaluation and adjustment. This is particularly beneficial in CX, where the landscape is dynamic and customer preferences may change. Regularly reviewing and adapting OKRs allows organisations to continuously improve their customer experience strategies, whilst introducing greater innovation.
Objective: Provide a great customer experience
KR1: Increase our NPS from 32-38
KR2: Decrease customer churn rate from 15-8%
KR3: Increase our ‘solved first time’ online queries from 45-65%
Want to know more about how OKRs could work for your organisation? Get in touch.