Quarterly OKR Goal-Setting Template

Use this template to set actionable and measurable objectives and key results (OKRs) with your direct reports.

OKR Goal Setting Template
Use this template for free

Recently, more and more teams are implementing OKR goal-setting as a tool to drive their growth. Why? Because setting the right goals is the secret ingredient for success. 

As a manager, you probably know that aligning individual goals with company objectives is crucial – yet complicated. To help you achieve this, we curated this OKR template that you can use to set goals with your direct reports.

Use the OKR template to plan your next OKR goal-setting one-on-one meeting and to ultimately, set your team up for the win. 💪

What are OKRs?

OKR (Objectives and Key Results) is a goal-setting method first developed by Andy Grove during his time at Intel Corporation and then introduced to Google in 1999 by John Doerr, one of the startup’s firsts investors.

In his 2018 Ted Talk, John Doerr, author of Measure What Matters explained that: 

“Objectives are what you want to have accomplished. The key results are how I’m going to get that done. Objectives. Key results. What and how. But here’s the truth: many of us are setting goals wrong, and most of us are not setting goals at all.” 

When growing a company, goals give us direction and purpose. And when it comes to OKRs, the benefits are FACTS. During his interview with Harvard Business Review, Doerr listed out five benefits of setting OKRs:

Focus is the first, because these are limited in number. Alignment is the one you’re talking about — you get everybody aligned. Commitment is third. When you’ve transparently set these goals, and all your colleagues see them, commitment clears that up quickly.  And then the fourth superpower is tracking the progress. This is why Bill Gates uses the system at the Gates Foundation. Then the fifth superpower is stretching. Larry Page of Google is the high priest of 10x-ing everything, stretching further,” says Doerr.

This template is here to guide you and your direct reports into effectively setting OKRs that bring impactful results:

OKR Goal-Setting Agenda Template 

  1. OKR Review: Where did the employee succeed / fall short last quarter?
  2. Objectives: What are some things they want to accomplish this quarter?
  3. Key-Results: How will you measure progress towards that goal? 
  4. Resources: How can you support your direct report?

We’ll go into detail about each section of the OKR template bellow:

1  OKR Review:

The quarter is coming to an end, and as a manager, you know it can only mean two things:

  1. It’s time to evaluate the goals that your teammates set up 90 days ago, 
  2. and it’s also time to set goals for the upcoming 90 days. 

You might want to start the OKR check-in asking your team members questions such as where did we succeed last quarter? and Where did we fall short? That is a good start. By asking these, you are identifying wins to celebrate and aspects to be improved. However, the OKR grade system works somewhat differently.  

How to grade your OKRs

OKRs are graded using a number on a scale of 0 to 1.0, where 1.0 means the objective was fully achieved. Start by grading each key result individually and then, get an average. Use this average to grade the objective. Keep in mind that OKRs are in essence ambitious, thus the “sweet spot” for an OKR grade is between 0.6 and 0.7. If your direct report is usually getting a grade of 1.0 that means their goals are not ambitious enough. If the grade fell well short, then try to revise expectations for the next quarter OKRs. 

Here are three things you should consider. OKRs are public, they are not meant to be used as your employee performance evaluation, and lastly, it is recommended to check in throughout the quarter to have an idea of where everyone stands.

Some managers even found out that listing monthly projects for each key result and reviewing their progress during every weekly meeting worked better for fast-paced companies. 

“Each quarter we can set out goals that we should be hitting in terms of improving our business through the OKRs.  This keeps us focused on driving real business results and not just increasing the level of activity. Monthly projects allow us to hold ourselves accountable for our internal commitments and have a tight timeline for product development or marketing and business development activities.”Dave Girouard, Founder and CEO at Upstart.

2  Set Objectives: 

As you already know, objectives represent what your team wants to accomplish. In a way, they set the direction that your business should go. Objectives are aspirational, and therefore they can make your team feel a little bit uncomfortable.

“Objectives are significant, they’re action-oriented, they are inspiring, and they’re a kind of vaccine against fuzzy thinking.” – John Doerr.

The challenging aspect of setting the right goals is carefully prioritizing what is more important and why you should focus on that. You can ask your direct report to come prepared with some objectives in mind and use this one-on-one meeting to carefully craft the appropriate objectives. 

Here are some tips to set clear objectives with your direct reports:

 3  Develop Key Results: 

Again, Key Results are how you will accomplish the objectives you just set. They help you measure progress and success towards achieving that goal. For that reason, key results are aggressive and they must include hard numbers. 

Here are some things you should have in mind: 

4  Offer Resources and Support

Implementing OKRs is a challenging and enriching process. But at first, it could be hard to get everyone on your team to adjust, or even enjoy, OKR goal-setting. On the bright side, one of the key elements of OKR is transparency, and it will help you get your team on board. As a manager, try to be clear about what OKRs are, how they will bring an impact both on the long and short terms,  how OKRs are used and be open to answering any questions. These last two points are critical, your direct reports will feel so much more comfortable knowing how they will be graded, and consequently, they will be more committed to their goals. 

You can also promote the use of individual OKRs to encourage personal development. You can give feedback to help your employees identify areas where they might need to improve or some skills they can perfect. 

Final tips and examples

“As you grow a company, the single hardest thing to scale is communication. It’s remarkably difficult. OKRs are a great way to make sure everyone understands how you’re going to measure success and strategy.”

Dick Costolo, Former CEO of Twitter. 

Congratulations! You are a pro at OKR theory, now it’s your turn to implement this powerful tool. We can tell you that practice makes perfect. The more you ask yourself where you want to go as a company, the more you will understand your goals and your objectives will become moonshots. We are here to support you through this process. Along with this OKR template, we have also prepared this OKR samples to help you prepare for your meetings:

OKR example #1

OKR example #2

Use the free OKR goal-setting template in Fellow and be ready to see remarkable results!