OKR Tracking Template

OKR Tracking template overview

Set a clear direction, engage your team with strategy, and make sure every task your team executes is connected to a business objective. 🎯

• Cover the whole OKR planning process in one tool. Define goals by quarters, break them down into Key Results, and then into bite-sized tasks.

• See progress with ease using pre-built reports and progress formula for both Objectives and Key Results.

• Get extra visibility and shared context, collaborate easily, and keep everybody updated by storing everything in the same template - no more scattered tools and spreadsheets.

Set up your goal setting and tracking process using a 100% adaptable no-code template and start achieving your goals faster.

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What is the OKR planning?

Objectives and Key Results (OKR) is a framework for defining and tracking objectives and their outcomes. OKR is quite an efficient way to plan and track high-level goals. It also helps leadership teams see how the work of single individuals connects back to the overall business strategy.

OKRs can be seen as a method to break down and align goals between teams and individuals for a certain time period, most commonly a quarter.

How do OKRs differ from KPIs?

While there can be overlap, these two concepts are really very different.

The main difference between OKRs and KPIs relate to reporting and time frame. KPIs are meant to measure the health of the business so they are used primarily for reporting on business results. Additionally, KPI tend to more long-term oriented. OKR, on the other hand, are primarily used for setting specific and measurable goals and tend to be short-term (monthly or quarterly).

Here are some examples of KPIs versus OKRs:

• KPIs: monthly recurring revenue, customer retention, customer lifetime value.

• OKRs: Objective - increase company revenue by 30 percent. Key Result 1 - Convert 50 leads into paying customers. Key Result 2 - Increase customer retention to 85 percent.

How to use the OKR planning process?

Implementing OKRs effectively within your organization is all about structure. 

Here is a step-by-step guide and best practices:

Step 1: Define Objectives and Key Results

Start by setting clear objectives. They should be ambitious yet achievable and aligned with your company’s vision.

It’d be best if they inspired your team, too. There’s nothing better than a team that moves in the same direction.

Next, define 3-5 measurable key results for each objective.

These should be:

• Specific

• Time-bound

• Quantifiable

Step 2: Align OKRs Across the Organization

To align OKRs in your company, start at the top-down level. So, set specific OKRs for the entire business first and cascade them down to departments and teams.

Once done, encourage teams to create their own OKRs that align with higher-level goals.

Pro-tip: Ensure communication between different teams to ensure OKRs are aligned and there is no conflict in objectives.

Step 3: Communicate and Socialize OKRs

Implementing a big framework like OKR can be confusing without a proper intro to it.

Hold an organization-wide meeting to introduce the OKR framework, explain its benefits, and set expectations.

Also, schedule regular check-ins (weekly or bi-weekly) to review progress and adjust key results as necessary.

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Implementing OKRs: Pro Tips

Now that you know how to implement OKR templates in your business, here are a few extra pieces of advice to ensure you avoid the most common pitfalls:

1. Focus on Few Objectives: Limit the number of objectives to ensure focus and avoid overwhelming the team.

2. Keep It Simple: Avoid complexity in defining OKRs. Simple and clear OKRs are easier to understand and track.

3. Ensure Transparency: Make OKRs visible across the organization to foster accountability and collaboration.

4. Encourage Ambition: Encourage setting stretch goals to drive innovation and growth. It’s okay to miss some key results if progress is made.

5. Regular Updates: Keep OKRs dynamic. Adjust them based on changing priorities and market conditions.

If you follow these steps and best practices, implementing OKRs to drive focus, alignment, and performance across all levels will feel easy… or easier.

Why use the Fibery OKR tracker?

High-performing teams need a simple OKR system to know what their team and personal goals are.

Fibery OKR tracking template contains everything to support your planning process. It covers all the components of the system (Objective, Key Results, availability to connect tasks from other Spaces) in a single tool.

• Improve employee performance by engaging them around common goals, committing to specific Objectives, and choosing objectives that will motivate the team to push themselves.

• Ensure goal-driven development and more meaningful work by making sure every task is linked to Key Result and Objective.

• Increase transparency and let everyone can see what the team is working on by measuring the results in public. See progress, track status using custom reports, and share context easily. Allow colleagues to make updates easily and report on the status of OKRs.

Compared to an OKR spreadsheet or document, the Fibery OKR tool requires way less experience with the OKR framework to come up with good Objectives & Key Results and align them with the rest of the company.

How to use the Fibery OKR template?

From the start, you have just two different Databases: Objectives and Key Results, same as the steps of the original OKR method.

These two Databases can be visualized as you want with boards, lists, tables, timelines, and, most importantly, reports. From the start, you have a pre-made Objectives by Quarter board, OKR Status board, a list with Current Objectives, and a Progress Overview report.

Here is how you can use this template, step by step 🚶‍♂️

1. Define some ambitious goals for the upcoming year on Objectives by Quarter board. Remember to avoid solutions at this point and only describe desired outcomes. Expand the Objective to description or comments. Linked Key Results and their state will automatically appear here too once you add them.

2. Add Key Results on how to achieve each Objective. Determine around three key results per each Objective. Do it from the Objective entity or from the OKR Status board. Don't forget to update each Key Result with assignees, notes, initial, current, and target values.

3. Move Tasks through a workflow on a Status board and see how the Objective progress changes.

4. Switch to Progress Overview Board for the visualization of each Key Result progress with charts.

5. To add new Views, navigate to the Product Management Space in the left menu and click the [+] icon.

6. Invite your teammates and ask them to start adding their OKRs to the Fibery OKR Space in real time.
   Click Invite People link on the left to add more users. There are two global access levels: admin has full access to everything, but a member can't install Spaces, add Databases, or do other system-level things. So far permissions are per-Space only. By default, Space is visible to all users. However, you can hide some Spaces from some people or give them various levels of access.

7. Complete everything with data and connect your company goals with more Spaces to track tasks.

It's not all thought — monitor OKRs on a regular basis to make sure you’re on track and formerly assess your wins and challenges every quarter. Did you meet your key results? Were you dreaming too big when you set them? Or, were they so easy that you were done in the first few weeks?

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How to customize your OKR template?

This flexible, growth-focused OKR tracking template can be used as a dashboard for keeping track of each of your team members' OKRs, and can be customized to fit whatever process makes sense for you. Use the built-in filtering, grouping, and search functionality to quickly see your OKR goals by quarter, or your key results by percent attainment. You can even create different views for each team or individual so everyone can easily zoom in on exactly what matters to them.

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If you have a customization in mind, but can't figure out how to set it up, please reach us via Intercom — we are happy to help.