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OKR Tracking: How to Track OKRs + Free OKR Tracker Template
Published on:
September 15, 2023
Updated on:
November 13, 2024
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OKR tracking is one of the most important concepts in the discussion of goal-setting. If you have decided to implement the OKR methodology, you cannot be assured of its success without making sure you have the right systems in place for tracking OKRs effectively.
At its core, monitoring OKR progress is a simple process. That being said, it is a simple process with its own nuances, and if these nuances aren’t paid attention to, you might find that your team is struggling greatly with OKR alignment and progress monitoring.
In this post, we will be cutting straight to the chase and going over how to track OKRs in six easy-to-follow steps.
To help you go through these steps more easily, we’ve also provided you with a Free OKR Tracker Template.
While this part seems like it is a given, it is very common for organizations to realize their OKRs weren’t fit to be tracked from the start.
The foundation of successful OKR tracking lies in defining clear and measurable OKRs.
You can’t be expected to track OKRs effectively when they’ve been set wrong from the very start. So what are some best practices you can follow in your goal setting to make OKR tracking easier?
Let’s start with your objectives.
Objectives should be ambitious but specific, inspiring the team to push boundaries.
Key results, on the other hand, must be quantifiable metrics like percentages, revenue growth, or customer satisfaction scores are common.
If you aren’t sure whether the OKRs you’ve set are trackable, go over the checklist below to make sure they fit.
Clear and Ambitious Objectives
Measurable Key Results
Assigned Ownership
Ensure Transparency
Each OKR should have a dedicated owner or owners who are responsible for driving the efforts needed to achieve the set objectives and key results.
Accountability is an absolute must in all forms of performance management and in this case, OKR tracking is no exception. Implementing a sense of ownership around OKRs is crucial to establishing that accountability.
Assigning responsibility also simplifies OKR reporting and review processes. When the responsibility for each OKR is well defined, it becomes easier to gather updates, hold productive check-ins, and most importantly, analyze results.
There are multiple different ways you can go about when assigning OKR ownership.
In this model, a specific person is assigned full responsibility for an OKR. This is ideal when an objective is closely tied to an individual’s expertise or role in the organization.
For example, a sales manager might own an OKR related to increasing revenue by 10%, where their individual actions directly impact the success of the objective.
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Here, the entire team shares responsibility for achieving the OKR. This fosters collaboration, as each member contributes their part toward meeting the key results. Team ownership is particularly effective when objectives require diverse skill sets or cross-departmental coordination.
This particular scenario works if a manager is responsible for ensuring their team meets the OKR. The manager may not directly contribute to the key results but ensures progress is tracked and resources are allocated properly. This method works well when objectives span multiple functions or require more leadership oversight.
As organizations grow in size or simply in ambition, the number of OKRs and the complexity that comes with each and every one of them becomes simply too great to track manually.
While manual OKR tracking methods like spreadsheets are intuitive at first, they very quickly become cumbersome to analyze, offering no real-time insight or collaboration capabilities.
This isn’t a discussion of why you should be using OKR software to track your team’s OKRs. It is one of the most clear-cut best practices for OKR tracking if you want to practice proper, data-driven OKR tracking.
The real question here is: Which OKR tool is right for you?
There are plenty of incredible options out there when it comes to OKR management platforms. That being said, here is a helpful statistic to keep in mind:
30% to 40% of software purchased by companies goes unused or is underutilized.
To avoid the same fate, you need an OKR solution that won’t just fall by the wayside. Your OKR tracking tool should always be in the flow of work, easily accessible, and intuitive to use.
In other words, it should be fully integrated into your main communication and collaboration platform.
For example, if your company uses Microsoft Teams or Outlook on a regular basis, then the best option for you would be:
As an Official Microsoft Partner, Teamflect is the best OKR tool for organizations using Microsoft Teams or Outlook. Without ever having to leave your main communication platform, you can use Teamflect to:
When these features are paired with complete Microsoft Teams and Outlook integration, OKRs never lose visibility and leave the flow of work.
The best part is, that you can try Teamflect for absolutely free because Teamflect is fully free with full functionality for up to 10 users! You don’t even need to create an account. Just log in with your Microsoft Account and you are good to go!
Frequent check-ins, such as weekly or bi-weekly OKR reviews, are essential for maintaining momentum on objectives and key results.
OKR check-ins aren’t just opportunities to press your team on their OKR completion progress!
They also serve as checkpoints where OKR owners can discuss all the potential roadblocks getting in the way of said progress, with their managers.
Two of the most important concepts when it comes to tracking objectives and key results are visibility and accountability.
Regular OKR check-ins foster both of them while also serving as a space to celebrate small wins, keeping the team motivated and engaged throughout the quarter.
Actionable Tip: Schedule these check-ins at consistent intervals (weekly or bi-weekly) and structure them to include a status update on key results, identification of any challenges, and a brief discussion of the next steps.
Benefits of Regular Check-Ins:
A common approach in OKR tracking introduced by Google is to score key results on a scale from 0 to 1, where 0 means no progress has been made, and 1 signifies complete achievement.
Implementing this binary OKR scoring system allows teams to quantitatively measure their proximity to hitting their key results.
A score between 0.7 and 0.8 typically reflects strong progress, as OKRs are designed to be ambitious, and reaching 100% (or a score of 1) may not always be realistic.
Regularly scoring key results helps teams gauge performance, identify where more effort is needed, and make necessary adjustments to stay on target.
Actionable Tip: During each check-in, have each team member or OKR owner provide a score for their key results. Use these scores to highlight areas needing additional resources or attention, while also acknowledging high-performing areas.
OKRs are designed to be flexible, allowing teams to adapt to changing conditions. Regular reviews, typically at the end of each quarter, help assess progress and determine if adjustments are needed.
These OKR evaluation reviews ensure that the OKRs remain relevant and realistic, and aligned with evolving business priorities or external changes, such as market fluctuations or strategic shifts.
For example, if a company initially set an OKR to increase customer retention by 10%, but a major competitor introduces a new feature that disrupts the market, it may need to adjust its OKRs mid-cycle to address the new competitive landscape.
This OKR tracker template provides a customizable layout for teams to define their objectives and key results, track progress towards achieving them, and collaborate with team members to keep everyone aligned and accountable.
The template includes sections for team objectives, key results, progress updates, and comments. The team objectives and key results sections allow teams to define their goals and track progress toward achieving them.
The progress updates section provides a space for team members to update their progress towards each objective and key result, while the comments section allows team members to collaborate and discuss any issues or roadblocks.
Moreover, this OKR tracking template can serve as an OKR status report. As mentioned above, it includes a progress updates section for you to indicate the progress you’ve managed to make.
One of the most common mistakes is not making OKR progress transparent across the organization. When tracking is limited to just a few stakeholders, teams may lose sight of how their efforts contribute to broader goals. Transparency fosters accountability and alignment, ensuring everyone is on the same page.
OKRs require regular check-ins to ensure progress is on track. Many teams make the mistake of reviewing OKRs only at the end of the cycle, which can lead to missed opportunities for course correction. Frequent reviews help teams stay agile and focused on achieving key results.
Setting key results that are too vague or difficult to measure is a significant pitfall. Without clear metrics, it becomes impossible to objectively evaluate progress. Key results should always be specific, measurable, and quantifiable to allow for effective tracking.
Relying on manual tracking methods, like spreadsheets, often results in errors, inefficiencies, and outdated information. While we have provided you with an OKR tracker in this article, an overreliance on manual goal-tracking methods can not only be time-consuming but also fail to deliver real-time insights needed to make quick decisions. Automated tools that integrate with other systems offer better visibility and streamlined tracking.
While OKRs should be ambitious, setting objectives that are too far-fetched or unrealistic can demotivate teams. Objectives need to be challenged, but they must also be achievable within the given time frame. Balance ambition with realism to maintain team motivation and drive progress.
Tracking OKRs effectively helps organizations stay aligned, agile, and goal-focused. By setting measurable objectives, conducting regular check-ins, and reviewing progress with clear scoring, teams can ensure that they remain on course to achieve their goals.
Implementing a streamlined process, especially with a dedicated tool, can significantly enhance efficiency and transparency.
If you’re looking to simplify and enhance your OKR tracking, consider Teamflect. With its seamless integration into Microsoft Teams, it makes managing and tracking OKRs effortless. Schedule a demo today and let our specialists analyze how Teamflect can support your team’s OKR management process.
An all-in-one performance management tool for Microsoft Teams
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