What is a Company Goal and how to use it correctly?
The concept of Company Goal represents a Single Strategic view that the entire organization should follow in an annual period. It also defines the cycle that your team should organize your OKRs within.
When you start planning your OKRs for the year, you must first set your Company Goal and the OKR Cycle structure:
- The period for the Company goal and the main Company OKRs (normally a year)
- The periods for the OKR execution during the year (usually Quarters)
- The Planning and Wrap-Up time for every period (usually one or two weeks at the beginning and end of the period)
Main Company OKRs will then be defined from the Company Goal. Axy OKR provides a wizard in order to create the Company Goal, the Periods, and one main Company OKR. You must define the rest of the main Company OKRs that you need.
As an example, the wizard will help you create the following:
Company Goal: First one in market share in 2020
- Main Objective 1: Double size at the end of fiscal year 2020 (Yearly Period)
- Key Result 1.1: Launch at least two new product releases
- Key Result 1.2: $57M revenue in 2020
- Key Result 1.3: Increase NPS by 20%
Then you have to create the rest of the main Company OKRs. Continuing with the example:
- Main Objective 2: Engage employees and increase loyalty (Yearly Period)
- Key Result 2.1: Get Best Place to Work certification
- Key Result 2.2: Improve referral program by 15%
- Key Result 2.3: Reduce employee attrition by 17%
- Main Objective 3: ………
The Company Goal and main company OKRs are set as private by default. This ensures that the Management and C-Level executives have enough time to discuss and define the OKRs and basic strategy to follow. Once agreed, they are shared with the rest of the organization and marked as public afterward, after which the rest of the team is able to create OKRs related to any higher level OKR.
You can access our FAQ about Objectives, Key Results, and Initiativeshere.