How to create a well balanced OKR?
#Efficiency (how quickly) and Effectiveness (how well) are 2 polarized parameters that every #business or #team need to grapple with. We usually end up compromising one for the other. The trick is to manage a fine balance in order to win. While working on crafting empowering #OKRs, here is an example of a balanced OKR.
Objective: Create the most amazing customer experience.
(Note the inspiration, ambition, and the qualitative nature of the objective at hand.)
Key Result 1: Net Promoter Score increases from 60 to 65 in Q1.
Key Result 2: 20% Customers have repeat purchase in Q1.
Key Result 3: Cost of Customer Service is < 30% of revenue in Q1.
Note: KR1 & KR2 are measures that may give you great results. However, at what cost? Hence, adding ‘Cost of Customer Service’ as the third metric ensures sanity through balance.