Welcome to the podcast Nå mål with me, Sophie Hedestad. I am CEO of Noxit and work to help organisations create clear direction and real results. I am joined by Viveka Beckeman, CEO of Skogsindustrierna, an exciting member organisation. How does Viveka balance the interests of the members while also driving internal goals forward? How does she connect long-term perspectives to what employees actually do in their day-to-day work?

The perspectives in this podcast also build on the ideas in the book Riktning och resultat.

Welcome to Nå mål, Viveka, tell us about yourself. Who is Viveka?

Thank you! As you can probably hear from my accent, I am from Scania and have been a Stockholmer since 1998. For the past five years, I have been the CEO of Skogsindustrierna.

Tell us about your journey, from growing up in Scania to Stockholm. How did you end up at Skogsindustrierna? I want to know more, what did you study and what does your experience look like?

I grew up in Åstorp in northwestern Scania, right next to a forest. For me, the forest was a playground, but it was not something I ever imagined I would one day work with. My journey went through law studies in Lund, which I found incredibly enjoyable. I moved to Stockholm in 1998 and have done many classic legal jobs. I have served in district court, worked in the court of appeal, worked at a law firm and held various management positions.

When I entered the forest industry when I became chief legal counsel at a forestry company and also had a few other roles there. I like working with change and with issues where you can actually make a difference. The forest industry is exactly that kind of industry. Here, you can work with issues that truly matter. We are a driving force in the green transition, and through the forest industry you can influence the society we live in. I think that is exciting, and that is why I am here. What I do now is an incredibly exciting role, because I get to work in an industry I am passionate about together with fantastically committed people. I feel that we are truly creating progress.

Your background as a lawyer, how does that help you in your role as CEO?

A legal education is very broad. One of its great advantages is that you gain insight into many different industries, and that has enabled me to bring experience from other sectors into this job. As a lawyer, you are also trained to absorb large amounts of information, sort it and turn it into something concrete. That is very useful to me as a CEO. We live in a rapidly changing world, and those of us who work with political advocacy have a lot happening around us all the time. The ability to make things concrete and set goals for a business is something I truly bring with me.

We talked a little about political advocacy, but could you tell us about Skogsindustrierna? Why do you exist? How do you work? Who are your members, who are your employees & who are you?

We are an industry organisation that works with political advocacy and with increasing the value of wood raw materials. We represent companies across the entire forest value chain. Our members are active in sawmills, paper and pulp, and also in businesses that manufacture textiles. The common denominator is companies that refine Swedish forest raw materials. We are present throughout the country, from small family-owned companies to large international groups. There is a broad range among the member companies.

There are around 45 of us working at Skogsindustrierna. We have experts in standardisation, business policy, communication and other specialist areas. What unites both our employees and the people working at the member companies is a tremendous commitment to the industry. These are people who go to work because they genuinely believe that what we do matters. I enjoy working with committed people, and that is why I think Skogsindustrierna is a fantastic workplace.

Workplace and political advocacy, then you are going to help the members reach their goals. But what is it that you need to influence? Which politicians are we talking about?

Political advocacy is a central part of our work at Skogsindustrierna. Yes, we are lobbyists, even though that word has almost become a little charged in Sweden. Our job is to influence politicians and decision-makers on issues that are important for our member companies. One example is the EU Deforestation Regulation. The basic idea is good: that European consumption should not contribute to deforestation in the world. But there was also a proposal for a regulatory framework that would become extremely administratively burdensome.

In principle, it would be possible to follow every small part of the raw material through a very complex value chain, from a tree in the forest to the finished product. That would create a great deal of administration and bureaucracy for companies. Our job, then, is to help politicians understand reality and to show how the same goals can be achieved in a more efficient way. The Swedish economy is highly dependent on export companies. Our companies manufacture a great deal in Sweden and sell on a global market. To remain competitive, they need to be cost-effective, and regulatory hassle can become a major problem. That is why it is important that we help decision-makers understand how their decisions affect companies in practice.

And we are also going to talk about goals. What is your relationship to goals?

I think goals are an important tool, but above all, the right goals are an important tool. Early in my career I worked at a law firm, and there was a culture where the focus was very much on billable hours. That was also the only thing that was measured. In an environment where people already work a great deal and also enjoy working, it can easily become an unhealthy culture if the only thing you manage toward is more hours. Then there is a risk that quantity takes precedence over quality, and I believe that is counterproductive. For me, it became an early example that goals in themselves are not always good. It is about finding the right goals.

You work to achieve the members goals and at the same time, as CEO, you are responsible for setting the direction for the teams and employees. How does that balance work?

The most important thing for us is that things work out as well as possible for the member companies. At the same time, in our daily work we need to set goals that are clearly linked to that. An important tool that we developed just over three years ago is what we call the Future Agenda. It emerged at a time when the green transition was very much in focus. We felt that other industrial sectors were getting a great deal of attention in the discussion, which was good, but we also saw that our own industry had long been built on fossil-free raw materials and fossil-free processes.

We wanted both to create increased political interest in our industry and at the same time keep energy and direction high internally. That is why we launched a future journey where we set goals for how we ourselves wanted to create progress. It was a major effort, because this is not something we in the Stockholm office can do by ourselves. The real work happens out at the member companies.

That is why we devoted a great deal of time to anchoring both the vision and the direction. We landed on two clear main tracks: to continue driving the green transition and to ensure that politicians continue to create the right conditions for our industry. It needed to be visionary and forward-leaning, but at the same time realistic. The work of setting the goals took more than a year. In the end, we landed on three clear goals: that our products should be completely fossil-free and renewable by 2040, that we should reduce our climate impact by 30 percent, and that forests should be richer in biodiversity.

Under these, there are also a number of sub-goals. It was an ambitious effort, but also very concrete. I am proud that together we managed to develop it, and we use it both in our dialogue with politicians and when we set goals for our own organisation.

So the Future Agenda still applies?

Yes, it still applies.

So 2040 is the year you are working toward?

2040 is our long-term direction, but we have also developed action plans with milestones along the way. You cannot set a goal for 2040 and then simply hand it over to the future. If you want to create real progress, it takes time, especially in an industry with long cycles. That is why you need both direction and concrete steps along the way.

So that is the direction, and then you set milestones based on it? How do you steer the organisation toward this, do you work with annual goals or three-year business plans? What happens next?

At Skogsindustrierna we work with milestones. If you take one concrete example, part of the goal of reducing climate impact is that our land transports should become completely fossil-free by 2040. That is a very big challenge and requires major investments from the member companies. That is why we have set milestones along the way and follow up on how far we have come.

You are around 45 employees and have different departments. How do you get this out into the organisation? Do the departments set their own goals, activities or how is it rolled out?

The departments set their own goals and activities linked to the overall goals. That is also why it was so important that the goals were well anchored with the member companies, because in practice it is they who make the investments, for example in electric trucks or biofuels. It is out there that the real change takes place. Our job is to help ensure that legislation and political decisions make it easier to reach the goals.

If we take transport as an example, it is about charging infrastructure, investments in biofuels and other conditions that need to be in place. Our action plans therefore include both milestones and clear activities around what we ourselves need to do and what we need from politics.

You said it took a year to put the Future Agenda together, and I can imagine you had many discussions. You said it needed to be stretched but still realistic and achievable. How do you deal with it when someone in the group disagrees or is not engaged? How do you move forward then?

During that year, it was very much about letting vision meet reality. When I started painting the picture of where I thought we needed to land for it to be sufficiently visionary and forward-leaning, I was met with quite a lot of resistance. We had to solve that through discussion. The option of not being part of the journey did not really exist, because I thought, and still think, that this is such an important shift for the industry.

At the same time, the goals have to be possible to anchor. There were many good conversations where vision and reality were allowed to meet. Some goals were adjusted downward because they were not realistic, while those who were most sceptical at the beginning also shifted their positions. It was a very good process in which we tried to understand each other better.

Goals are not entirely easy. When you evaluate the milestones, it may be that the goals were too ambitious, that performance was not sufficient or that something happened in the external environment. How do you know when you are doing a good job?

I think that is the hardest part in our type of business. Of course, all industries are affected by the external environment, but when you work with political advocacy it becomes especially clear. When we developed the Future Agenda, there was a very strong focus on the green transition. Since then, the world has changed. We have had more wars, a deeper recession, trade policy conflicts and tougher global competition. All of that affects companies’ ability and willingness to make major investments.

That is why it is an advantage to have long-term goals. Then you can tolerate some bumps in the road, as long as the direction remains fixed. The important thing is to continue taking the steps that are possible. For us, it is sometimes difficult to determine whether we have succeeded or not, because we may have done very good work while at the same time the outside world made it impossible for the conditions to be there. Then you need to be able to take a step back and analyse whether you could have done something differently or whether it was actually the circumstances that set the limits. And sometimes you also need to be prepared to revise goals when reality changes too much.

Let us say you miss a goal and agree that it is about your own performance. How do you handle that?

The most important thing is that you learn something from it. We need to analyse why we did not reach the goal and focus on what we could have done differently. I do not believe very much in pointing fingers. On the other hand, I do believe that you need a climate where you can say: I did not do this well, I need to do this better next time. That applies both to me as a leader and to the rest of the organisation. I think it is better to set high goals and sometimes not go all the way than to set goals so cautiously that you do reach them, without creating enough progress.

It is not entirely easy, and there is something often called the whirlwind, this thing about firefighting, urgent issues and everything that happens in everyday life. How do you balance this, working with goals and progress when at the same time it is firefighting all day long?

That is a very big challenge. We have incredibly committed employees who do many good things every day, but a great deal is also happening all the time. Political pressure is high and the economic environment is changing rapidly, so it is easy to get stuck in the here and now. That is why I think it is important, at regular intervals, to stop and evaluate what you are actually spending your time on.

Are we working in a way that helps us reach long-term goals, or are we just getting stuck in the whirlwind? If the answer is that you are stuck, then sometimes you need to dare to say that certain things should stop being done. It is not only about having fewer meetings, but about understanding why you are doing what you are doing and whether it is actually moving the organisation forward. Quite simply, sometimes you need to stop and ask whether the work actually supports the long-term direction.

Do you have a success story about goals that you can share?

Yes, I know I have talked a lot about transport and the Future Agenda in Skogsindustrierna, but for me that is actually one of our clearest successes. When I first spoke to the group working on transport and said that I envisioned a future commitment of completely fossil-free transport, I was met with strong reactions. They basically said: do you understand how expensive this is? It involves enormous investments. But a year later, it was precisely that group that set the most ambitious goals of all.

By then, they had understood how the agenda could become a tool in the collective work and why it mattered. For me, that is a success story: when a goal goes from feeling impossible to becoming something that engages those who are actually going to help implement it.

That is where strategy comes to life. Is there any personal goal that you are focusing on yourself?

Yes, since I am 50 plus, I may have the same goal as many others my age: I am going to exercise more. My first goal is to exercise a little more regularly. I run quite a lot, especially during the summer months, but I want to find a routine that lasts all year and also do more strength training.

I am also working on my French. Right now I use Duolingo, and there my goal works quite well because there is a clear element of gamification. I also have a goal of learning to play the piano, but there I probably have to admit that progress is going quite slowly.

It is still impressive with both language and instrument training. That is a lot to fit in.

Yes, we are working on it. I cannot say that I have reached the goal yet.

Not yet, no. Thank you so much, Viveka, for joining Nå mål.

Thank you, it was great to be here.

The post Viveka Beckeman, CEO of Skogsindustrierna about goals and the green transition appeared first on Noxit.

The interview is hosted by Sophie Hedestad, CEO and co-founder of Noxit.

From e-commerce to CEO of Pändy

Who is Ebba Lagercrantz, and what did your journey to the CEO role look like?
My name is Ebba Lagercrantz, I’m 32 years old and grew up in Stockholm. I have a background in e-commerce and marketing and today I lead Pändy, a confectionery company within FMCG. When I started at Pändy five years ago, we were only three people, however today we are 17 employees and part of Humble Group.

What is Pändy?

Tell us about Pändy who are you and what do you do?
Pändy is a Swedish confectionery company focused on reduced-sugar candy. We start from classic candy varieties that many people recognize from pick and mix candy color, taste, and shape. We remove the sugar and replace it with our own patented fiber solution. The result is candy with no added sugar, without compromising the taste experience. When the company was founded, the focus was protein-enriched products for a niche fitness audience. Shortly before I joined, a complete repositioning of the brand took place, shifting from protein to sugar reduction. I came in as Marketing Manager in 2020 with the task of leading that transition.

Where are Pändy’s products available?

Where can you buy Pändy today?

Pändy’s products are widely distributed in the Sweden and Norway in grocery retail, convenience retail such as Pressbyrån and 7-Eleven, online via online pharmacies, Amazon, and our own e-commerce store. For customers outside the Nordics, Amazon is the easiest way to find Pändy.

Early experience with goals and KPIs

How did you start working with goals and KPIs?
My background in e-commerce has shaped how I work with goals. In e-commerce, almost everything is measurable. Early in my career, I worked with influencer marketing at a large e-commerce company, where goals were extremely concrete, often tied to sales through discount codes.
We had clear KPIs that showed exactly how much revenue each campaign generated. That built a strong understanding of the relationship between activity and results, something I’ve benefited greatly from later as a leader.

From individual goals to company governance

How does goal-setting differ as a CEO compared to operational roles?
It’s a huge difference. As CEO, it’s not just about your own KPIs it’s about getting the entire organization moving in the same direction. At Pändy, we are 100% owned by Humble Group, which means overarching goals and priorities are set at the group level.
My role is to translate these owner directives into concrete, realistic goals for Pändy at the company level, team level, and individual level. Everyone should understand why the goals exist and how their work contributes to the bigger picture.

How Pändy works with goals

How do you break goals down across the organization?
The work starts in the budgeting process, often with forecasts from the sales team. Logistics, operations, and marketing are then involved to ensure the goals are achievable. Once company goals are set, they’re broken down into team goals and then further into individual KPIs.
Everyone at Pändy has clear goals—individual KPIs, team goals, and company goals. That creates accountability, transparency, and engagement.

Follow-up: monthly, quarterly, and yearly

How often do you follow up on your KPIs?
We work with monthly KPIs and follow up both monthly and quarterly. At the same time, the full-year budget is what ultimately governs. Individual months can vary, but over time the quarters and the year should align with the plan.

Engagement in a fast-growing company

How do you get different personalities aligned behind the same goals?
Transparency is crucial. Employees need to understand where the numbers come from and feel that the goals are both challenging and realistic. In a growth company like Pändy, you often attract people who are driven and open to change, which helps.
If someone still feels resistance, we try to break the goals down into smaller parts and understand what’s creating uncertainty. Engagement is created through participation.

Balancing short-term and long-term

How do you balance daily operations with long-term transformation?
That’s one of the biggest leadership challenges. Pändy has grown quickly and shifted from a strong growth focus to an increased focus on profitability. At the same time, day-to-day operations have to work.
We work agilely and have always had a three-year strategy, but it has been revised several times. For us, it’s about daring to think ahead without losing momentum in everyday work.

A success factor: digital-first

What are you most proud of in Pändy’s journey?
That we dared to do things differently. We had a clear digital-first perspective early on, both in marketing and sales. Through e-commerce and digital marketplaces, we could quickly gather data, understand our target audience, and build the brand.
That laid the foundation for our rapid growth and made it easier later to step back into physical retail with better insights than many traditional players.

How Pändy celebrates when goals are reached

How do you celebrate successes?
Celebrating goals is important to us. We have monthly after-works where we highlight both big and small successes. That can include everything from personal achievements to reaching major milestones.
Recently, we celebrated that Pändy passed SEK 100 million in year-to-date revenue—with a big party. Pausing to celebrate strengthens both culture and motivation.

Ebba’s leadership at Pändy is characterized by clear goals, transparency, and strong commitment to both people and results. By combining a data-driven approach, realistic KPIs, and a clear direction, Pändy has grown from a small team into an established candy-shelf brand—and the journey continues. We thank Ebba for joining the Nå mål podcast.

The post Leadership and goal setting with Ebba Lagercrantz at Pändy appeared first on Noxit.

A common mistake among leadership teams is the belief that they need to completely revise their business plan every year. In reality, a well-structured strategy can span multiple years, often three, with annual reviews and refinements rather than complete overhauls. Engaging in an extensive strategy process every autumn can be counterproductive, leading to inefficiencies where operational initiatives suffer due to excessive planning.

Beyond aligning OKRs with strategy, they should also be adapted to the company’s industry and size. In a startup, OKRs tend to be highly specific and tactical, whereas in larger organizations, excessively detailed OKRs can result in only a small portion of the company actually working toward overarching goals. For company-level OKRs to have a real impact in larger businesses, there must be a balance between clarity and flexibility, allowing high-level objectives to be translated into meaningful targets at the team and individual levels.

How to Structure Your Company OKRs

We recommend setting Objectives on an annual basis while defining Key Results quarterly. This approach provides a clear direction while also ensuring execution by breaking down the strategy into smaller, more manageable components.

Quarterly Key Result evaluations are essential for maintaining momentum and a sense of urgency. By working in shorter cycles, you ensure that your strategy is continuously translated into concrete outcomes rather than remaining a theoretical concept.

As for the number of company-level OKRs, it’s best to limit yourself to a maximum of three Objectives at the company level. According to best practices, prioritization is key—focusing only on what truly drives success. For each Objective, you can define up to six Key Results, but it’s important to apply the principle of “less but better.” Not everything can be a priority. By concentrating on the most impactful goals, you ensure that your OKRs remain relevant and achievable.

Example of Company OKRs

Objective 1: Increase Growth and Revenue

To strengthen the company’s profitability and expansion, we focus on increasing recurring revenue and growing our customer base.

Key Results:

• Increase MRR (Monthly Recurring Revenue) from 1M SEK to 2M SEK by March 31, 2025.
• Grow the number of paying customers from 500 to 1,000 by March 31, 2025.
• Achieve a Net Revenue Retention (NRR) of 120% by the end of Q1 2025.

Objective 2: Improve Customer Experience and Engagement

Customer loyalty and satisfaction are crucial for reducing churn and ensuring long-term business success. By improving the user experience and strengthening customer relationships, we create a stable and growing customer base.

Key Results:

• Increase NPS (Net Promoter Score) from 45 to 60 by March 31, 2025.
• Reduce churn rate from 5% to 3% per month from January to March 2025.
• Increase CSAT (Customer Satisfaction Score) to above 90% by March 31, 2025.
• Launch Feature X and test it with 10 customers by March 15, 2025.
• Generate 1M SEK in revenue from Feature X sales by March 31, 2025.

Objective 3: Build a Strong and High-Performing Company Culture

To build a successful company, we need a motivated and engaged workforce. By investing in employee development and fostering a positive workplace culture, we strengthen long-term business success.

Key Results:

• Increase eNPS (Employee Net Promoter Score) from 50 to 70 by the measurement on March 31, 2025.
• Ensure that 90% of employees have an individual development plan by March 31, 2025.
• Achieve an 80% positive feedback score in internal leadership evaluations by the end of Q1 2025.

Conclusion about company OKRs

Working with company-level OKRs is a powerful method for ensuring strategic execution and clarity throughout your organization. By setting ambitious yet realistic Objectives and breaking them down into measurable, actionable Key Results, you establish a strong direction that drives long-term success.

By maintaining a structured approach, conducting quarterly evaluations, and focusing only on what truly impacts business performance, you can ensure that OKRs become a core part of your company’s operational model—rather than just a theoretical framework.

The post Effective company OKRs – How to set strategic and impactful goals appeared first on Noxit.

Migrate from Viva Goals to Noxit – fast and smooth

Noxit has developed a service for companies looking to migrate from Viva Goals. We manage the entire process. This including data migration, onboarding, and employee training. In as little as five business days, companies can start using Noxit’s dynamic and user-friendly goal-setting platform.

“Switching systems can feel tricky, but we will make it simple. Our team of specialists handles the entire transition. So you can keep working toward your goals.“ says Sophie Hedestad, CEO of Noxit.

Why companies choose to migrate to Noxit

While Viva Goals will soon disappear, Noxit offers a modern and effective solution for goal-setting. Companies using Noxit experience:

Better communication and coordination of OKRs
Simpler and more inspiring user interface
Higher goal achievement and better results

The market demands modern goal-setting solutions

The OKR market was worth $4 billion in 2013 and continues to grow as companies realize the importance of dynamic goal management. Traditional tools like PowerPoint and Excel are no longer suitable for modern OKR processes. That’s why companies are seeking solutions like Noxit, which offers a flexible and user-friendly platform to achieve their goals. Companies looking to ensure a smooth transition from Viva Goals can now book a free demo with Noxit.

About Noxit

Noxit was founded in 2023 with the vision of changing how organizations set and roll out goals to teams and employees with its Performance-platform. Noxit is a leading SaaS solution for strategy execution, OKRs (Objectives & Key Results), and Must Win Battles. Designed to optimize strategy execution and ensure that strategies are turned into actions. With customers worldwide, Noxit helps companies structure, follow up, and accelerate their growth.
Visit us at www.noxit.io

For more information, please contact:

Jullia Pizarro
Email: jullia.pizarro@noxit.io

The post Migrate from Viva Goals – Noxit makes the transition easy and effective appeared first on Noxit.

Press Release – February 19, 2025 

Noxit Revolutionizes Strategy Execution with a New Feature for Leadership Teams 

Noxit is taking the next big step in simplifying strategy execution within organizations. With the latest release, leaders can now tag teams and employees to specific goals. Making it easier than ever to understand how each individual contributes to the company’s overall strategy. 

“90% of companies fail to execute their strategies. We ensure that 100% of our customers succeed. This launch is a critical milestone that enables leadership teams to seamlessly roll out goals across the organization while allowing teams and employees to set their own objectives in alignment with the company’s strategy.” says Sophie Hedestad, CEO and Founder of Noxit. 

From Excel Chaos to Efficient Strategy Execution in Noxit 

Today, many companies struggle to manage OKRs (Objectives & Key Results) in Excel and PowerPoint, a method that quickly becomes unmanageable. Noxit’s goal management platform automates and simplifies this process. Saving leaders significant time and ensuring that everyone in the organization understands their priorities. The result? Better goal achievement, higher performance, and increased business growth. 

A Part of Noxit’s Larger Vision 

This launch is a key piece of Noxit’s long-term strategy to evolve from a pure strategy execution platform to a comprehensive performance management solution. With more innovations on the way, Noxit continues to help companies not only set goals but actually achieve them. 

About Noxit 

Noxit was founded in 2023, with the vision of transforming how organizations set and roll out goals to teams and employees through its Performance platform. Noxit is a leading SaaS solution for strategy execution, OKRs, and Must Win Battles, designed to optimize strategy execution and ensure that strategies turn into action. With customers worldwide. Noxit helps companies structure, track, and accelerate their growth. 

Visit us at www.noxit.io 

For more information, please contact: 
Jullia Pizarro 
Email: jullia.pizarro@noxit.io 

The post Noxit Launches New Feature to Connect Strategies with Teams and Employees  appeared first on Noxit.

In this episode, we are joined by Pernilla Wihlborg, COO of Baseload Capital, to talk about her journey and how EOS (Entrepreneurial Operating System) has helped them create clarity and structure.

Welcome, Pernilla!

Thank you, it’s great to be here!

Can you tell us about your background and how you ended up at Baseload Capital?

I’m an engineer by training, but I’ve never worked as one. I started my career in product management and sales. After about seven years, I was drawn to the entrepreneurial life and joined a Cleantech company that had a prototype but no sales success. I enjoyed the creative environment and realized that I wanted to work in a role where I could create value freely, instead of being a cog in a big machine. Through that work, the idea for Baseload Capital was born, and I’ve been the COO there for seven years.

What does Baseload Capital do?

We work with geothermal energy, where we harness the heat from the earth to produce electricity. It’s a renewable energy source that works 24/7, regardless of weather. Geothermal energy has existed since the 1950s but hasn’t received the attention it deserves in the energy debate. Our mission is to scale the technology by spreading knowledge, raising capital, and developing power plants through our four subsidiaries in Japan, Taiwan, the US, and Iceland.

Why is geothermal energy not talked about more?

It’s capital-intensive and risky in the beginning because you have to drill without knowing exactly what’s under the ground. Compared to solar energy, where you can calculate output with great precision, it’s harder to predict the results of a geothermal drilling. There are also strong economic forces that prefer to use drilling rigs for oil and gas, which means we have to work hard to spread awareness about the technology.

How many projects have you carried out?

Since we started in 2018, we’ve developed eight smaller power plants. The purpose has been to learn the process from drilling to electricity production, permitting, and business models for selling electricity. Each market is slightly different, so we’ve worked to understand the whole chain and create a stable business model.

Have you extracted energy from these locations?

Yes, all eight power plants produce electricity that is sold to consumers.

What is the potential for geothermal energy?

The potential is enormous, but the challenge is making the technology profitable and scalable.

What do goals mean to you?

For me, goals are a guideline that helps me make the right decisions and prioritize. Without clear goals, it becomes harder to know if you’re heading in the right direction.

What is EOS and how does it work?

EOS (Entrepreneurial Operating System) is a system of practical tools that connects vision, execution, and team health. It helps us ensure that everyone understands our goals, how we’re going to achieve them, and how we collaborate as a team.

How did you get in touch with EOS?

EOS is big in the US and is used by about 25,000 companies. We discovered it through our contacts there and quickly realized it was exactly what we needed. Implementing it has been one of our best decisions.

How did the process go when the leadership team made the decision about EOS? Was it a joint decision made in a specific meeting, or did it develop more gradually over time? And how did you decide that this solution was the right choice?

It started when our CEO came back from a trip to the US and told us about EOS. He introduced the concept to us, and we contacted an expert for help with implementation. After a few workshops, we realized that EOS was the right way to go, and we decided to follow that methodology.

What did you do during those EOS workshops?

During the workshops, we learned that EOS is about strengthening six components of the company: setting long-term goals, defining vision and values, ensuring the right people are in the right places, using metrics (KPIs), identifying and solving problems, defining core processes, and setting quarterly goals (rocks). It quickly became clear that EOS would really change the way we work.

How do you stick to the rhythm with all these meetings?

We’ve gone all-in on EOS. If you truly believe in the methodology, the agendas and meetings are already planned. Every quarter, we hold a one-day workshop to set new goals (rocks), and every year we have a two-day meeting to evaluate long-term goals. Weekly meetings are consistently held, and no one can miss them unless it’s for vacation or another valid reason. This creates a strong sense of prioritization throughout the company.

What are some major pitfalls for companies that don’t succeed with EOS?

The biggest issue is not clearly communicating why a new methodology is being implemented. If employees don’t understand how the changes will benefit them, it can lead to resistance. Decisions must come from the top, and the leadership team has to truly believe in the changes for the whole organization to follow along.

How do you analyze if you have the right team in place?

First, we define an “accountability chart,” an organizational chart that focuses on responsibility rather than titles. Then, we ensure that the right people are in the right places and can deliver on the goals that have been set. Every quarter, managers and employees have conversations to evaluate performance and if the right person is in the right place. It’s a transparent process, and we don’t hesitate to act if something isn’t working.

How do you get skeptics on board with changes?

It requires patience. The message must be repeated several times for everyone to understand why the change is happening and how it will positively affect them. At the same time, you must be prepared to make decisions even if not everyone agrees. If someone doesn’t want to work with the common method, they might not be a good fit for the company.

Does EOS also include budgeting processes?

Yes, there are external processes outside of EOS, such as financial processes. EOS covers the fundamental processes, and one of those is the financial process, which includes budgeting. Many other important processes, such as sales and recruitment, also fall within the EOS framework, and everyone in the company needs to understand these overarching processes to get the big picture.

What processes are part of EOS?

Our core processes include the investment process, recruitment, finance, project development, and operations. The people process, which is about recruitment, retention, and having the right person in the right place, is also important. These processes are overarching, and everyone in the company understands them at a high level to know their contribution to the whole.

How do you measure success through OKRs and rocks?

Rocks are our big goals for each quarter, and they are not directly linked to KPIs. KPIs measure success in the long term, such as how much electricity has been generated or how many sales meetings have been held. Rocks are more concrete and focus on what must be done during the quarter. KPIs are a separate set of metrics that help us measure our progress toward our long-term goals.

Do you work with different types of goals?

We have different goals depending on the time frame. For quarterly goals (rocks), we sometimes set “stretch goals,” where the target is to reach 80%, because if you reach 100% all the time, you’re not stretching enough. Goals are set to show direction and help with daily prioritization. It’s about understanding where you stand and why you haven’t progressed further – sometimes it’s more important to achieve a more ambitious goal to 50% than to achieve a smaller goal to 100%.

What are your personal goals?

My partner and I have an annual conversation where we sync our long-term life goals. One of my goals is for my children, when they’re adults, to want to spend time with me. To achieve this, I focus on creating time for my family and helping my children open up and learn about vulnerability. I also prioritize health and ensure that exercise is part of my daily routine. I’m open about my goals and make sure to include them at work, for example by scheduling exercise in my calendar and making it a natural part of my life.

What do you think about thinking about the future and setting goals backward?

I think it’s a powerful exercise to think about how I want to feel when I’m 80 and then work backward. It gives a joyful motivation to think about how I want to live my life long-term and helps me prioritize what’s important today to achieve that.

Thank you so much, Pernilla!

Thank you, it was a pleasure!

The post Pernilla Wihlborg from Baseload Capital: How EOS transformed the company’s structure and growth appeared first on Noxit.

A warm welcome, Linnea Bolter!

Thank you so much! It’s really fun to be here.

You work as a reporter at Dagens Industri. Can you tell us a little about your career journey and what you do on a daily basis?

I’ve been at Dagens Industri for almost seven years now – it will be an anniversary in April. I work in the news editorial team as a reporter, and for the last two years, I’ve also been a moderator for our events, such as DI Gasell and “The Most Powerful Woman in Business”. Before I started at DI, I freelanced for several years and also worked as a communicator. But I realized that I would rather be the one writing myself, rather than working with conveying other people’s messages. For me, journalism is much more stimulating.

What do you enjoy most about your job?

It’s really a varied workday, especially now that I have a role where I stand on stage and interview people. It gives me the opportunity to step out of the box and take up space in a different way than when I do regular interviews.
The most fun part is meeting all kinds of people and talking to business leaders, as well as individuals in politics or public agencies. I really enjoy being able to ask whatever questions I want. That’s something I really like. Changing my career to journalism was also part of my childhood dream. I wanted to be a journalist since I was little, so it feels really good to be living that dream now.

And how do you feel about asking questions to the business community? Is it easy to ask all the questions you want?

In the beginning, I was afraid of asking “stupid” questions because you want to seem smart and knowledgeable. But you learn that those so-called “stupid” questions are often not stupid at all, but sometimes the most important ones to truly understand.
What can be difficult is asking uncomfortable questions. When you need to put someone in their place or get someone to answer something difficult, it can be uncomfortable for both the interviewer and the person being interviewed. It’s something I’ve learned to handle, although it can still be tough.

What’s the most uncomfortable question you’ve asked?

It can be questions about irregularities or when I know that a leader has made controversial decisions. For example, when you’ve interviewed others who have different opinions about a business leader, and you have to ask difficult questions about that. It can create an uncomfortable situation for both me and the person I’m interviewing.

And what’s your relationship with goals?

As a freelancer, I started setting goals when I began my journalism career. I wanted to write for the major newspapers, so I set goals to get assignments from, for example, Dagens Nyheter. I set both performance goals and financial goals to develop myself. Since I started at Dagens Industri, I’ve continued setting goals for myself and in collaboration with my boss. It’s about expanding my network, doing more assignments, and creating my own news.

Journalists sometimes think of quantity as a goal, with clicks and such. What do you think about that?

It’s important that people read what we write, but personally, I’m not as motivated by the numbers in the same way others are. For me, it’s more about producing good journalism that reaches the right people. The quantitative goals, like clicks and subscriptions, are important, but I believe there has to be a balance between quantity and quality.

What’s your view on the balance between quality and quantity?

Quality is truly a cornerstone of everything we publish. But quantitative goals are also important for being able to follow up and see if what we do reaches its target. Personally, I think that you don’t always have to measure quality exactly. Sometimes it’s about a feeling for what’s good, and reader engagement is a good measure of that.

How do you view the business community’s ability to set goals?

Many successful companies and their leaders have visionary goals. An example is Lyko, which aims to reach ten billion in revenue by 2028. That’s a goal that’s not only about numbers but also about creating a long-term vision. I think visionary goals are really important for companies that want to grow and succeed.

When you talk to businesses, do you follow up on their goals?

We sometimes do follow-ups, even if we don’t always ask directly about their goals. Sometimes we see that companies have talked about big visions and goals, and if we later notice that they haven’t reached them, that’s a form of follow-up. It’s about following their journey and seeing how things are progressing.

What do you think makes some businesses succeed more than others?

A major factor is the ability to attract and retain talent. The business leaders I’ve spoken with say that having a clear vision of where the company is heading is incredibly important, and not getting fixated on competitors. Successful companies have the ability to think ahead and find the right people to work with.

What’s your relationship with the business community as a journalist?

It’s truly a symbiotic relationship. At Dagens Industri, we are both investigative and reporting. We write about companies that we sometimes both praise and criticize. I believe a journalist should never become too friendly with their sources, but we still need to have mutual trust in order to do our job in the best possible way.

What future trends do you see in the business world?

Many experts point to a turning point in the economy around 2025-2026, although it’s still uncertain. We hope things improve, but we know there’s a lot that affects it. If the largest economies in Europe recover, it could help the whole market.

Do you think businesses could have done anything differently to avoid bankruptcy?

Many businesses that have gone bankrupt have had large debts from pandemic support, which has made it harder for them to recover now that interest rates have risen, and taxes have to be repaid. It’s hard to say exactly what could have been done differently, but it’s clear that many have struggled with the big cost increases.

Finally, do you have any personal goals?

I have a rather embarrassing goal that I’m still working on – to become comfortable driving a car. I got my driver’s license late, at 35 years old, and it’s been a huge challenge for me. But it’s a goal I’m continuing to work towards. I also have a goal to become fluent in French, which I practice with Duolingo every day. And I also regularly save money to reach my financial goals.

Thank you so much, Linnea!

The post Linnea Bolter, reporter from Dagens Industri about her career and goals in business appeared first on Noxit.

The background of the OKR framework

The Objective and Key Results (OKR) framework is a pivotal tool in modern management, revolutionizing the way companies set and achieve goals. This approach was popularized in the 1950s by Peter Drucker, a leading management expert, who introduced the concept of Management by Objectives (MBO). MBO involves setting goals for the organization, then for individuals, with a focus on providing feedback on the outcomes.

In the 1970s, Intel‘s CEO Andrew Grove further developed the MBO framework into what we now know as OKR. The OKR framework became a more structured method for connecting overarching goals (Objectives) with concrete results (Key Results). Intel successfully utilized OKR to drive the company’s growth and innovation.

John Doerr, a junior colleague under Andrew Grove, gained valuable insight into the framework while employed at Intel. Later, as an investor, Doerr introduced the OKR framework to various companies in Silicon Valley. When he joined Google’s board in the 1990s, he implemented OKR there as well. By using OKR, Google streamlined its goal management and focused on the right initiatives.

In the 2000s, OKR rapidly spread worldwide, and many leaders in growth companies became interested in the framework. Companies like Spotify, Airbnb, and Dropbox have adopted OKR to enhance clarity, track progress, and prioritize initiatives for long-term goal achievement, resulting in improved performance and goal orientation.

What is an OKR?

OKR consist of two main components: Objectives and Key Results. It’s important to note that people might refer to OKR by different names. For example Big Hairy Goals, Rocks, Must Win Battles, or Wildly Important Goals. But they all fundamentally serve the same purpose. 

Objectives:

Objectives are the core of OKR and represent the overarching goals that an organization or team aims to achieve. These should be inspiring, challenging, and aligned with the organization’s overall vision and strategy. Objectives should also be qualitative, using words to describe the desired state or outcome. Ideally, Objectives should be concise and memorable. Objectives can have their own frequency and timeframe, typically a quarter, six months, or a year. We recommend having a maximum of three Objectives at the corporate level.

Key Results:

Key Results constitute the quantitative and measurable part of OKR. To fulfill the overarching goal (Objectives), it’s necessary to achieve concrete and quantifiable outcomes. Key Results quantify and clearly establish whether or not the goal has been met. We often document Key Results with numbers, percentages, or other metrics. By tracking Key Results, the organization can assess whether they are on the right track to achieve their goals. We recommend having between 1 and 6 Key Results for each Objective.

Read: What’s the difference between OKR and KPI? Read our article: OKR vs KPI: The Difference between Objectives and Key Results (OKRs) och Key Performance Indicators.

Key Initiatives

In the OKR framework, “key initiatives” are the central actions or projects necessary to achieve the strategic objectives. These initiatives act as drivers that support and promote progress towards the goals. They are concrete actions or projects focused on solving specific challenges, developing new products, or improving processes. Key initiatives are strategically chosen to ensure objectives are met and are typically clearly defined, time-bound, and linked to measurable outcomes to ensure progress and effectiveness in OKR implementation. One can think of key initiatives as the “collective to-do list” that leads to achieving the objectives.

Benefits and stats

Employees working with team OKRs have a better understanding of the company’s vision compared to those who do not use OKRs. This applies to about 72% of those using OKRs, compared to only about 50% without. Additionally, 60% of employees working with OKRs have a concrete understanding of the company’s strategy, whereas it’s only about 37% in companies without OKRs. (Haufe Talent)

83% of companies recommend the OKR framework to others as a valuable goal-setting method to achieve company objectives. (Haufe Talent)

The primary reasons for recommending OKRs include increased focus and prioritization, perceived impact on company culture, and improved transparency regarding the company’s strategy. (Haufe Talent)

OKRs contribute to measurable results such as a better understanding of the company’s strategic goals and an improved communication and feedback culture. (Haufe Talent)

According to surveys, 83% of companies using OKRs report benefiting from implementing the framework. (Haufe Talent)

Employees using OKRs feel their companies are well-equipped for the future. 67% of those working with OKRs believe their companies can respond quickly to changing conditions, compared to 50% among those without OKRs. (Haufe Talent)

Employees in companies using OKRs are generally more satisfied with their jobs. 78% of employees using OKRs are satisfied with their jobs, compared to 65% in the comparison group without OKRs. (Haufe Talent)

Teams using OKRs often experience a more successful culture of collaboration. This is due to more frequent constructive feedback, managers acting more as coaches, and more employees taking active responsibility for their own actions, decisions, and results. (Haufe Talent)

Sears Holding Company saw an impressive increase in sales per hour by 8.5% within 18 months after implementing OKRs for its 20,000 employees. To achieve such results, consistent use of OKRs every cycle was crucial. (Sears Holding Company)

The consistent use of OKRs at Sears also resulted in an 11.5% higher chance of high performance among their employees. (Sears Holding Company)

In companies where OKR usage was inconsistent, i.e., between 1 to 3 cycles per year, only a marginal 3% increase in performance was observed. (Sears Holding Company)

Goals in height and width create complexity

Goal management can become complex, especially in larger organizations, making it challenging to ensure alignment among all employees.

The ultimate goal of a company is its vision, typically spanning at least a 10-year horizon. The vision should be inspiring and generate engagement among employees, customers, investors, and owners. The vision, although it may not fully realize, serves to chart a direction for the company. It indicates the type of company that everyone aims to build together.

Following the vision, a company usually has a strategy for the next three to five years, outlining long-term goals for what it aims to accomplish. The next time horizon often consists of annual goals, specifying what the company aims to achieve in a particular year. The organization breaks down annual goals as part of the strategic process, documenting them in an operational plan. We divide these annual goals into quarters and further segment them into months.

You can break down monthly goals into sprints, typically spanning two-week periods. Further, you can deconstruct these sprints into employees’ daily to-do lists, which represent their daily goals. In addition to these time horizons, there are at least three levels of goals. Corporate goals, team goals, and individual goals. Given this context, it’s understandable that employees may find it challenging to identify the most important goals to work towards.

70% of companies do not achieve their goals

70% of companies do not achieve their goals. Inflation, war, and interest rates at an entirely new level create uncertainty in the business world. The top management reevaluates growth goals in response to the changed macroeconomic situation. Most companies hit the brakes because they are not meeting their set goals.

This is one of several conclusions from 2023 MarginPlus Survey, based on insights from approximately 300 business leaders. 70 percent of the surveyed companies state that they fail to reach their growth and efficiency goals. The respondents attribute their failure to internal obstacles. Including a lack of flexibility and the inability to build a scalable digital infrastructure. 

Other factors include the speed at which the company operates and how quickly it can change goals when conditions shift. 80 percent of respondents state that their companies are trying to accelerate their change efforts. But it is challenging to quickly reorient the organization. Three out of the four most crucial areas in change efforts involve the necessity to digitize their operations. 

Over 90% of respondents are investing in lasting change projects to meet growth goals and boost success chances. Specifically, they mention creating new positions at the executive level, redefining their strategic ambitions, and increasing their budgets to fundamentally transform their operations.

Information chaos hinders growth

According to Deloitte, 33 percent of companies experience significant difficulties in understanding and navigating the digital infrastructure. 34% think digital infrastructure lacks flexibility, and 31% feel technology doesn’t solve their problems. One identified challenge is the scattering of goals and strategies across various digital locations. Leading to uncertainty about what is current and what has become outdated.

This fragmentation can also create cognitive overload for employees and complicate effective work and decision-making. It is evident that there is a need for better and more structured digital workflows and an increased understanding of the dynamics of the digital infrastructure to address these challenges and create a smoother work environment.

No one is familiar with your strategy – not even your leaders

MIT Sloan’s study found only a quarter of managers could list three of their company’s five strategic priorities. Even worse, a third of the leaders tasked with implementing the company’s strategy couldn’t list a single one. These results are representative across all industries. Most companies struggle to achieve strategic alignment.

Transformational vs business as usual objectives

When we read about OKR in articles, books, or take courses, the recommendation often emphasizes that Objectives should be areas of movement. This approach suits startups or growth companies well, especially where most employees work on new projects and there is a high degree of process automation.

However, as more organizations adopt the OKR framework, it’s becoming evident that not all companies are structured in this way. Most employees, who also contribute to a company’s growth, work with already established processes, commonly referred to as “Business as Usual” or BAUs. In these organizations, OKR are equally valuable and applicable.

Read: All you need to know about the OKR framework

If the company leadership only highlights focus areas like ‘USA launch’ and ‘launch of e-commerce,’ as in the previous example, two defined project groups will likely emerge, each working on these areas and influencing the progress. However, the majority of all employees will not have any connection to the company’s OKR, and they will feel left out, not working on initiatives crucial for the organization.

This is a significant mistake and something you should avoid at all costs. In fact, it is business-critical to keep the operations running. Below are examples of BAUs (Business as Usual) that would include everyone in the company. You can call them focus areas to create inclusivity.

You need to find what works for your company

With that background, you need to find a balance that works for your company. Each management team, therefore, needs to decide how much energy you should put into the operation of existing business, growing existing business, and fundamentally changing the business. It’s about finding the optimal mix of what employees can handle to achieve maximum efficiency and output.

McKinsey has introduced something called ‘Strategy Horizons‘ that can be helpful when considering the balance between focus areas and areas of movement. Transformation is, of course, exciting, but it is BAUs that bring in the money and account for profitability here and now. Do not underestimate this; friction can arise in an organization that lacks balance in these horizons.

OKR Example: See how other companies have visualized their OKRs

Check out our OKR examples guide for loads of company and team-specific OKR examples to spark some inspiration!

Key Results can be leading or lagging indicators

When measuring and striving for Key Results, understanding the distinction between leading and lagging indicators is crucial. These indicators provide important insights that enable informed decisions and adjustments along the way.

Leading Indicators: Paving the Way for Success

Leading indicators are proactive, representing factors and activities that can be influenced and controlled currently to achieve future goals. For example, to achieve growth in a B2B software company, one should focus on measuring the number of booked and conducted meetings to reach a specific sales target. Booked meetings are something every salesperson can influence on a daily basis and are a leading indicator to ultimately achieve sales goals. 

Leading indicators empower individuals and teams to take control of initiatives that lead toward a goal. They offer real-time feedback, enabling quick adjustments and the ability to correct the course as needed. Measuring leading indicators fosters a proactive corporate culture where employees take ownership of their results.

Lagging indicators: Measures result

Lagging indicators measure the results of previously implemented actions. They offer feedback on whether the goals have been achieved but do not influence the achievement of these goals. An example: a summary of sales at the end of the quarter provides insights into past performance but does not drive future sales. While lagging indicators are crucial for evaluating results and compliance with long-term goals, relying solely on them can be limiting. Often, it’s too late to make meaningful changes based solely on lagging indicators. To maximize efficiency, organizations and individuals should use lagging indicators for evaluation and learning rather than as the primary driver for change.

Balancing leading and lagging indicators

A common pitfall is the excessive emphasis on lagging indicators, which can hinder proactive decision-making and adaptability. A better approach is to find a balance between leading and lagging indicators; companies must measure both. 

Consider the balance between leading and lagging indicators when setting your OKR (Objectives and Key Results). It’s important that teams and individuals can work proactively without depending on other teams or individuals to move forward swiftly.

Actions that take you to your goals

After defining company-level OKR, you can begin planning the actions required to achieve those goals. Actions break down large goals into smaller, manageable parts and specify the specific steps for achieving Key Results. Often, companies already have important projects underway that can link to OKR. It is also an excellent opportunity to discard projects that consume too much time. Do fewer things, but with a greater impact!

Your actions need more details, and now it may be crucial to use a tool to orchestrate all actions leading to your goals, ensuring no important tasks are overlooked. Actions should include an owner, a team, a description of what needs achievement, documentation, a deadline, and a status. Ideally, you can break down an action into sub-actions. Remember, actions ultimately lead you to your goals, and it’s vital to create a well-oiled machine that rewards initiative.

The importance of not having too many objectives

When your partner asks you to buy three things from the store and then adds a fourth, it becomes challenging to remember the extra item. This scenario reflects the importance of simplicity in goal communication within companies. By keeping goals simple and limiting their number, it is more likely that employees will remember and prioritize them effectively. A mistake many companies make with OKR is setting up too many Objectives. A good rule of thumb is not to have more than three Objectives at the company level.

1⃣ Eliminate Confusion: Focusing on a maximum of three goals ensures clarity, making it easier for employees to synchronize initiatives and identify the most critical priorities. Simplicity is key to eliminating confusion.

2⃣ Efficient Resource Allocation: With only three Objectives to manage and understand, resource allocation becomes more effective. It allows for a better distribution of limited resources such as time, finances, and expertise, directing them toward the most significant goals.

3⃣ Smoother Reporting: Reporting also becomes more streamlined when there are clear owners for each Objective and Key Results. Aligning updates on the company’s progress with this structure makes it more understandable how the company is performing in relation to its goals.

Teams and employees will not sit idle just because you haven’t set more goals. They will undoubtedly establish goals at both the team and individual levels that align with the company’s objectives and work ambitiously towards them. Dare to focus on fewer things and strive for greater impact instead.

Different choices must be made

Let’s play with the idea that you choose the following OKR for your company. When you communicate to the various departments that these are the areas the company will focus on, along with suggestions for Key Results, some departments may want to move certain Key Results to the team level instead of reporting them at the company level.

One option could therefore be to move Objectives and Key Results set at the company level down to different teams and to further refine the company-level OKR. Instead of specifying growth targets at the company level, it might be better to let teams define more specific and clear OKR.

If you don’t prefer the approach mentioned earlier, where you give teams complete freedom to set their own OKR, you could instead request that each team exclusively defines actions related to the company’s OKR and specify which Key Results the teams will support with their actions. It might look something like this:

Set stretch goals

Using “stretch goals” in conjunction with OKR is a common practice. This goal-setting method differs from setting realistic goals, and there are several important reasons for this. It’s perfectly okay not to achieve all the goals you set. In fact, if you’ve reached all your set goals, you’ve probably made it too easy for yourself. 

Promoting High Ambitions

Firstly, it signals to everyone that you have high ambitions. It encourages teams and individuals to think beyond their current capabilities and strive to achieve what may have seemed impossible before. This leads to increased innovation and creativity. 

Enhancing Motivation and Engagement

Secondly, it boosts the motivation and engagement of those working to achieve the goals. The goals serve as a source of inspiration, motivating employees to do their best and dedicate themselves to achieving them. “Stretch goals” also promote learning and personal development. When people aim for greater challenges, they acquire new skills and encounter new problems they might not have faced otherwise. 

This approach fosters a culture that encourages employees to develop both themselves and the organization. Moreover, it helps prevent the risk of mediocre performance. If goals are easy to achieve, there’s a risk that employees will settle for just meeting the minimum requirements. 

Goals act as a catalyst for innovation and change. When organizations encourage their teams to think big and break new ground, an environment is created where new ideas and methods are encouraged. This can lead to significant progress and increased competitiveness. 

Setting “stretch goals” makes organizations more flexible and adaptable. If the goals are not fully achieved, it’s still possible to have reached a higher level of performance than if more realistic goals had been set. Additionally, it may be necessary to adjust goals during the year depending on changing circumstances, and “stretch goals” provide room for this flexibility.

The importance of the CEO being proactive

The implementation of OKR is a crucial process that requires significant commitment, endurance, and guidance from the top management level of the organization. Typically, it is the CEO and the executive team who should drive the initiative to ensure the effective introduction of OKR. In cases where the CEO is not the primary driving force behind the OKR implementation, other key individuals such as HR (Human Resources), CFO (Chief Financial Officer), CSO (Chief Strategy Officer), or COO (Chief Operating Officer) can play a vital role as owners of OKR.

So, why is it important to get these roles on board?

1⃣ Strategic Alignment

CEOs, CFOs, Chief Strategy Officers, and Chief Operating Officers often have a deep understanding of the organization’s overall strategy and key elements of business operations. Involving key roles in the OKR process ensures alignment of OKR with the organization’s overarching goals and vision. They can focus OKR strategically on areas that need the most attention and investment.

2⃣ Financial Insight

CFOs are responsible for managing the organization’s finances and resources. A CFO is also the owner of the budget. By involving the CFO in the OKR implementation, one can ensure that goals are realistic and resources are allocated efficiently. The CFO can assist in setting realistic key results and monitoring financial goals to ensure that OKR are achievable and financially sustainable.

3⃣ Operational Expertise

Chief Operating Officers are typically responsible for driving the organization’s day-to-day operations. By including the COO in the OKR process, you ensure that the operational aspects of the goals are considered and that they are practically achievable. The COO can provide insights into how the organization can optimize its processes to achieve OKR more effectively.

4⃣ People-Centric Approach

The HR department plays a crucial role in supporting and developing the organization’s personnel. Involving HR in the OKR process can help ensure that goals are aligned with employees’ skills and developmental needs. HR can also support the communication and training required to successfully implement OKR.

Determine OKR Frequency

The time horizon or frequency for running OKR is a crucial decision point for every company. It’s important to tailor it to the company’s needs, size, and corporate culture. Here are some considerations when choosing a time horizon for OKR:

Annual OKR

Running OKR on an annual basis often suits larger companies with more complex and long-term strategies. It allows for in-depth planning, implementation, and evaluation. Annual OKR may be suitable when goals are stable and do not change frequently.

Biannual OKR

In regions like the Nordic countries, where summer vacations are long, biannual OKR might be suitable. It provides an opportunity to maintain continuity despite vacations and may be easier to sustain.

Quarterly OKR

Quarterly OKR are suitable for startups and companies undergoing significant changes that want to quickly shift focus if needed. A higher frequency means more work and potentially more internal meetings, etc. Go with this option if you have the ability to have rapid iterations.

Hybrid Approach

Companies may also consider combining different time horizons for different levels of the organization. For example, the company could have annual OKR while teams use quarterly OKR. A company could also have annual Objectives but report Key Results on a quarterly basis. Regardless of the time horizon, continuity and feedback are central. 

Regular reviews and adjustments of OKR should be an integrated part of the process. It’s also crucial to communicate clearly about the time horizon and goals so that everyone in the organization is aware of the right time for evaluation and how they can contribute to success.

A holistic approach to OKR

For an effective implementation of OKR in a company, it is crucial to understand that OKR are not an isolated process but rather part of a larger process. It requires cohesive strategic planning and coordination within the organization. Firstly, once a year, it is important to review the company’s vision and long-term goals and strategy. This forms the basis for setting OKR. It offers a chance to contemplate the company’s long-term direction and desired evolution.

To ensure that OKR are part of the overall strategy, a business plan can be used as the foundation for OKR work. This means having a clear plan for how the company will achieve its goals and how OKR fit into this plan. The budgeting process is also a crucial part of this context. There are two main approaches to managing this: either in parallel with OKR, where the CFO is responsible for both processes, or by having another owner in the executive team who ensures that OKR are a natural part of the whole.

Various processes are constantly taking place at the company level, team level, and individual level within organizations at different frequencies, and it’s crucial to bring everything together. The risk is that you may overload your organization if you don’t think of OKR as part of a whole. You need to have a holistic approach.

OKR owner

The person owning the OKR process in your company should act as a facilitator for team OKR. The owner should distribute an OKR template internally within the organization on how to structure team OKR so that all departments work in the same format. As mentioned earlier, this role should ideally be part of the executive team to ensure strategic alignment of OKR with the company’s overall vision. The owner will ensure regular review of OKR at executive team meetings. The OKR owner is responsible for coordinating OKR to fit into the overall company context and ensuring the organization can handle the process.

Appoint a working group

A key step in OKR implementation is appointing a working group led by the OKR owner. This group is central to the process, playing a vital role in ensuring successful adoption of OKR across the organization. The working group consists of key individuals who may be senior executives, CFOs, CEOs, COOs, or CSOs. Their commitment and participation in the working group signal the importance of OKR at the highest level in the organization. 

The working group should also represent internal champions and employees without leadership responsibilities. The group is responsible for initiating and driving the OKR process throughout the organization. In this group, it’s crucial to have inspirers and super users who understand and are passionate about the OKR framework.

These individuals serve as role models and inspire the rest of the organization to embrace OKR. They understand the benefits of OKR and can communicate them in a way that inspires and motivates others.

The working group is responsible for several key functions, including: 

Launch: Effectively rolling out OKR, involving clear communication of their purpose and benefits, plus guidance and training.

Action Follow-up: Ensuring that OKR translate into concrete actions and progress is monitored regularly. 

Communication: Establishing clear channels to ensure awareness of OKR, their purpose, and support for organizational goals.

Decision-Making: Having the authority to make decisions and make necessary adjustments to ensure that OKR are relevant and effective.

This working group serves as a link between top management and other parts of the organization, helping to facilitate a smooth transition to OKR. By ensuring that OKR are understood, accepted, and followed at all levels of the organization, the working group can be crucial to achieving success with OKR as an effective tool for strategic planning and implementation.

Include the teams and individuals

As mentioned earlier, OKR is a framework that promotes transparency and inclusion, ensuring everyone is engaged in shared goals.

When teams understand the leadership’s overarching goals, it empowers them to create their own objectives. It may happen that teams do not have the capacity or responsibility to support all the established OKR. It is entirely acceptable that they may choose only one goal to focus on. Encourage teams to have complete autonomy in formulating their OKR. However, it’s helpful to provide a structured OKR template or guidelines to facilitate communication between teams and the OKR manager. This creates a good balance between freedom and coordination, which is crucial to ensure that efforts are directed towards the most strategic goals.

Read: The power of setting goals that employees are enthusiastic about.

Trust leads to success

In today’s modern and hybrid work environment, we cannot micromanage employees and attempt to monitor every step they take. Instead, trust is at the core of the OKR methodology, and it is what will lead us to success. 

Teams and employees are the ones with the best overview of their work and how it contributes to the business. Here’s an example: You’re part of the leadership group, and there’s a web developer in the marketing team. Who is the most suitable person to design the key performance indicators (KPIs) for the web developer? The answer is likely the web developer themselves, in collaboration with their team and their immediate manager. The web developer is an expert in their field and knows that “Page speed” is crucial for ranking high on search engines, an insight few in the leadership group may have. The web developer understands the technical aspects that need optimization to increase speed. These actions will contribute to lead generation, a central task for the marketing department, ultimately driving growth.

To successfully achieve goals, it is important not to dictate what teams should do. Attempting to micromanage their work not only lacks inspiration but may also divert their focus to the wrong areas. Instead, start by building a foundation of mutual trust. When that trust is in place, employees will feel motivated to take initiative and ownership of their goals.

Visualize OKR and get competitive

Visualisering of OKR is crucial to create increased transparency, engagement, and competition within the organization. It provides a clear picture of the current status at the company, team, and individual levels. It should also evoke a sense of responsibility and competitive spirit. By using color codes such as red for “alert,” green for “trending well towards the goal,” and yellow for “work in progress,” you can, in a few seconds, see where you stand in relation to your goals. 

This quick overview makes it easy to prioritize and focus on areas that need the most attention. For example, you can use corporate chat platforms such as Slack or Teams for real-time updates. This recurring visualization should occur at least weekly and should be an integral part of meetings within the organization. By creating a structured process for when and how OKR are presented, you will foster a culture of continuous monitoring and accountability. Visualizing OKR is a powerful motivator and competitive factor. It provides a clear indication of performance and inspires employees to strive to “trend green” and avoid the red alert.

Establish OKR check in routines and block time

Check in routines are of crucial importance when working with OKR. This to ensure that goals are achieved and to keep the entire organization synchronized. Here is an example of how these check in routines can look at the company level, team level, and individual level, along with a concrete example of a checkin schedule. 

Company Level OKR

At the company level, a monthly check in should be a standard routine. During these meetings, the leadership team can evaluate progress toward the top-level goals and identify any obstacles. It is also a time to ensure that the company as a whole is on the right track. For example, the company may have a goal to increase sales to existing customers by 10 percent during the quarter. During monthly check ins, the team can analyze how this goal is progressing and make decisions about adjustments if needed. 

Team Level OKR

At the team level, a weekly check in should be in place. The team leader and team members can come together to discuss the week’s progress, identify any bottlenecks, and make decisions about actions. Each team likely already has a routine for their meetings, so make sure that OKR check ins become part of an already established routine. 

Individual OKR

Check-ins should be daily or weekly, tailored to the company’s culture and needs. Here, the aim is for the daily to-do’s of an employee to bring them closer to their goals. Each individual can review their own OKR, reflect on progress, and identify the activities required to achieve the goals. For example, a developer may have an individual OKR to complete a new feature within a specific timeframe. Daily check-ins help confirm if a person is on track and allow for prompt addressing of challenges.

Example of a specific OKR checkin schedule: 

• Monthly Company Checkin: First week of every month 
• Weekly Team Checkin: Mondays at 10:00 AM 
• Individual Checkin: Every morning at the start of the workday

For teams already using agile methods, like two-week sprints, integrating OKR into their workflow is even more crucial. You don’t want to create an OKR process as an isolated island. Instead, the implementation of OKR should become a natural part of the whole. It’s about adapting the check-in routines to the existing internal meetings and the overall communication plan.

Launch OKR plan

A meticulously planned internal launch of OKR is crucial to ensure that all employees understand the purpose and implementation of OKR. A launch plan should address why OKR are being introduced, how they will be used, and what is expected from teams and individuals. Additionally, it should provide necessary information and support throughout the entire process. 

Launch Month (Month 1): 

• Week 1-2: Form a project group responsible for launching OKR. Identify key individuals to serve as ambassadors for OKR in various departments. 
• Week 2-3: Develop an FAQ documentation that answers common questions about OKR and a wide range of usage scenarios. 
• Week 3-4: Produce training materials, including instructional videos and e-books providing an overview of the OKR process and its benefits. 
• Week 4: Organize a webinar or presentation for leaders and the project group to explain the introduction and use of OKR.

Implementation Month (Month 2): 

• Week 1: Launch a Teams channel and a Slack channel for OKR discussions and support. 
• Week 2-3: Begin internal training for key individuals and OKR ambassadors on how to set up and follow OKR. 
• Week 4: Publish continuous information on platforms like the intranet with videos and documentation describing the process. 

Implementation Month (Month 3): 

• Week 1-2: Initiate check-in routines by integrating OKR into existing meetings. 
• Week 3-4: Continue ongoing communication. 

Follow-up Month (Month 4): 

• Week 1-2: Begin tracking how OKR are being used and reinforce positive progress. 
• Week 3-4: Continue educational efforts and provide necessary documentation and support. 

Ongoing: Update OKR on office TV screens and consistently communicate the organization’s progress and achievements in relation to the goals.

Following a launch schedule for OKR ensures a structured, goal-focused strategy, keeping all employees informed and engaged. This will make the transition to OKR smooth and successful, promoting a strong corporate culture focused on achievement.

Read: 6 important steps to follow in your goal-setting process.

Get people excited

Semantics play a crucial role in creating a positive attitude towards change. Avoid terms like ‘transformation’ and ‘change management’; focus on ‘improvement’ for a positive, forward-looking atmosphere. It’s not just about word choice. It also involves explaining why you want to implement OKR and what you hope to achieve. Highlight other companies that have succeeded in creating clarity and alignment using OKR. Companies achieving good results with OKR boost confidence and motivate employees to use them for ongoing improvement. Rather than a traditional ‘change process’ that often carries a negative connotation. 

Different groups of employees

Within organizations, there are three main groups of employees with different levels of engagement. First are the ‘Actively Disengaged’ (11% global average, per Gallup), dissatisfied with their workplace and often seeking new jobs. Their lack of engagement can negatively impact the company’s performance. Next, the ‘Passive’ group (75% global average, per Gallup) may lack enthusiasm but still show up and try to perform. Finally, we have the ‘Engaged’ (14 percent is the global average according to Gallup). They enjoy their tasks, perform well, and act as a driving force for innovation and progress within the organization. 

Different personality types

In addition to these groups, there are also different personality types that affect how employees respond to changes. This includes innovators who are open to new ideas and technologies. Visionaries with a strong future vision. Pragmatists who focus on practical solutions. Conservatives who are reluctant to change established methods, and skeptics who have doubts about the benefits of change. It is important to understand that people take different times to adapt to new methods and frameworks, such as OKR. 

For example, if the company has measured engagement levels (eNPS) and it is clear that the company’s culture is in a negative spiral, it may be wise to consider which projects should be prioritized. It may also be the perfect time to implement OKR, as the survey reveals that employees do not have clear goals and the company’s direction is unclear. Alternatively, it may be that recently implemented extensive organizational changes have affected the culture, and in that case, it may be more appropriate to focus on initiatives that promote closer collaboration and cohesion among employees. Reflect carefully on the timing when implementing OKR to ensure the best possible conditions for a successful launch of this framework.

Can OKR solve the problem?

MIT Sloan School of Management outlines three steps to address unawareness of goals and strategy among employees and managers.

1⃣ Acknowledge that you have an issue with your goal management. The first step in solving a problem is realizing that you have one. Many managers often assume that the entire company is in agreement, but this is usually incorrect. Because you helped create the goals, they’re clear to you, but don’t assume others understand them as well.

2⃣ Unify the leadership team. Lack of alignment often starts at the top of a company. For strategic priorities, top leadership must align on common goals for the company, not individual agendas. Unfortunately, statistics show that the majority of leadership teams fail at this. 

3⃣ Get middle managers on board with the strategy. Strategic imbalance often starts at the top but doesn’t end there. The ability of middle managers to accurately interpret the company’s strategic priorities decreases as you move down the organization. Alignment decreases down the organizational hierarchy, with the biggest gap between leaders and middle managers.

Deloittes survey identifies designing a strong monitoring and reporting process as key to goal achievement. This is precisely what one aims to achieve when implementing OKR.

When OKR are implemented correctly, it should:

• Provide a direction for employees 
• Help employees prioritize 
• Foster higher productivity & initiative 
• Create clarity 
• Clarify ownership 
• Improve decision-making 
• Motivate and inspire employees

Read: 5 reasons why you need an OKR platform to crush your goals.

OKR are part of a whole. You should have a vision, a strategy for how to reach the vision, a budgeting process, and so on. None of these initiatives are isolated islands. They should coexist, with clear timelines and owners who synchronize the processes with each other. OKR are the part of goal management where you make your strategy easy to understand, broken down, and manageable.

Whether you use a spreadsheet, PowerPoint slides, or a tool, make sure to document your OKR in one place. This will create clarity and reduce stress for employees, as they don’t have to search for documents uploaded on different digital platforms.

Another advantage of OKR is the ability to say no. When there are clear OKR, it becomes easier to determine if a task directly contributes to the goals or not. This helps employees avoid being overwhelmed by excessive workloads and reduces the stress that can arise when trying to handle too much at once.

Successfactors for companies that wants to achieve growth goals:

• Companies must design a robust process for monitoring and reporting (72%). 
• Development of a clear business plan (65%). 
• Implementation of effective change activities to increase awareness, acceptance, and benefits of initiatives (64%). 
• Investment in technology to enable accessibility, reliability, and decision-making processes around data (62%).
• Assessment, validation, and adjustment of realistic cost goals (58%). 
• Design leadership to drive efficiency and initiatives for cost improvement (46%).

Source: Deloitte

Pitfalls

Experiences from companies that have implemented OKR reveal some common pitfalls that can be avoided. A survey conducted among these companies shows that if given the opportunity to roll out OKR again, they would prioritize the following improvements: 

Clarifying the vision and strategy: Half of the respondents indicated that they would integrate their vision and strategy more clearly in connection with OKR implementation. This indicates that a strong connection between overarching goals and OKR is crucial for creating a meaningful direction for the organization. 

Improving alignment around OKR: One-third of the companies felt that it was important to create better alignment and understanding of why specific OKR were chosen and how they related to the company’s overall goals. This emphasizes the need to communicate and anchor the decision about OKR in a unified way. 

Implementing Check-in Routines: 21 percent believed that they should have established more structured routines to regularly evaluate and follow up on their OKR. This shows that setting up regular check-in processes is an important component to keep OKR current and relevant. 

In summary, this feedback illustrates the importance of integrating company vision and strategy, creating alignment around OKR, and establishing effective routines for successful OKR implementation. By addressing these pitfalls, companies can maximize the value of their OKR programs.

Repetitive communication

Repetitive communication during the internal launch of OKR in a company is crucial for several reasons. Firstly, it ensures all employees, regardless of prior knowledge, understand the OKR concept clearly. Furthermore, repetition reinforces the message and its significance, providing an opportunity to answer questions and address doubts. It’s worth noting that what may feel like repetition to the leadership is often new information for many employees. Adhering to the launch plan, even if it seems repetitive, is crucial for a smooth and successful OKR implementation.

Quality in work

A potential pitfall that can arise when working with measurable results/Key Results is that less consideration is given to the quality of the work. 

For example, let’s say you are launching a new website. It is, of course, desirable for the site to look professional and aesthetically pleasing. However, this is an aspect that cannot be easily quantified in OKR. Assessing aesthetics and appearance requires specific expertise, a sense of nuance, and an experience that cannot always be expressed in numbers. Striving to quantify these aspects can result in a superficial assessment that does not reflect the true quality of the work. 

Another example where the quality of work is neglected is when developing and launching a new product. Setting quantitative goals in the form of sales figures can lead to a rush to complete the product and launch it quickly. This, in turn, can result in quality issues, such as bugs and functional flaws. Focusing exclusively on numbers can lead to the actual product quality being overlooked.

Evaluate how the implementation has gone. It is essential to listen to various perspectives and opinions about the OKR framework.

Some critical voices have expressed the following viewpoints: 

Cumbersome implementation: Some believe that the implementation of OKR became too complicated or cumbersome, suggesting that the process was more demanding than necessary. 

Too many processes: For some organizations, it became overwhelming to manage budget processes, strategic work, and OKR simultaneously. This can lead to overload and reduced efficiency. 

Lack of coordination: If all teams continue to work in different ways, it may indicate a lack of coordination and a challenge in bringing together all parts of the organization. 

KPI overload: Some may have felt that they are already measuring many KPIs and do not see clearly how OKR differ from the existing practices. 

Despite these critical voices, there is also a hope that the majority feel that OKR have brought clarity to the organization’s goals. To gain a better understanding of how OKR are perceived and how they impact the organization, an internal survey can be useful. 

Proposed questions in a survey to employees about OKR: 

Clarity of goals: Do you feel that OKR have increased clarity about the company’s goals and direction? 

Implementation: How did you experience the implementation of OKR? Was it smooth or complicated? 

Coordination: Have OKR promoted coordination and a more unified direction for different teams and departments? 

Efficiency: Do you believe that OKR have contributed to increasing the company’s efficiency and results? 

KPI comparison: How do you see the difference between OKR and the existing KPIs measured within the organization? 

Challenges: What specific challenges or obstacles have you encountered in using OKR in your work? 

Feedback and improvements: Do you have any suggestions on how the OKR process can be improved or adapted to better support the organization’s goals? 

Such an internal survey can provide insights into how OKR affect the organization and help identify areas that need improvement or adjustment to maximize the framework’s value and user-friendliness.

Continuous improvement with retrospectives

A retrospective is a valuable routine when working with OKR as it promotes continuous improvement. It provides an opportunity to review and evaluate how well one has performed against their OKR. This is a crucial part of assessing whether the goals have been achieved and understanding why or why not. By reflecting on what has worked well, one can identify the success factors that should be maintained and reinforced. It also offers a chance to identify challenges, obstacles, or failures that have impacted the outcome. 

Regarding how often a retrospective should be held, it can vary depending on the organization’s culture and needs. Here are some guidelines: 

Team Level: Within a team, it is common to hold a retrospective regularly, typically after each OKR cycle. This gives the team the opportunity to continuously improve its performance and work processes. 

Leadership Team: At the leadership level, a retrospective can be held with longer intervals, such as after each full year or half-year period. It gives the leadership team time to evaluate results at a higher level. 

When it comes to the format of a retrospective, there are several methods to choose from. Such as “Stop-Start-Continue,” “Happy-Sad-Mad,” and “Timeline,” among others. The format may vary depending on the organization’s preferences and needs. The most important thing is that retrospectives promote open dialogue, honesty, and the identification of concrete actions for improvement. 

Here are some basic guidelines: 

Create a safe and open environment where everyone can share their opinions and experiences.

Identify specific actions based on the identified success factors and challenges. 

Follow up on these actions in the next OKR cycle to measure improvements. 

A retrospective is a crucial component in making OKR more than just a measurement tool. They become a tool for continuous improvement and development within the organization.

Increased well-being and productivity 

The implementation of OKR can bring a range of positive effects to organizations and their employees. Here are some impressive results achieved by using OKR: 

125% Lower Burnout By setting clear goals and tracking progress, organizations can reduce burnout among their employees, creating a more sustainable work environment. 

35% More Company Engagement With OKR, employees become more engaged as they have a clear understanding of the organization’s goals and how their work contributes to achieving them. 

21% More Effective Leaders OKR help leaders focus on the most strategic goals and priorities, increasing their effectiveness and leadership. 

46% More Job Satisfaction When employees see their efforts resulting in goal achievement, they become more satisfied with their work and experience increased fulfillment. 

16% Better Performing Employees OKR create a structured and measurable method to improve performance, leading to better results from employees. 

This statistics indicates that OKR are not only a tool to achieve corporate goals but also a method to promote well-being, engagement, and productivity among employees. By using OKR, organizations can create a culture of clarity, focus, and achievement that benefits both the company and its employees.

OKR Software: Noxit

Noxit kicks teamwork up a notch with its goal-setting tool. We offer a user-friendly experience that helps companies get everyone on the same page with their goals and sparks action. Our reporting features give you the lowdown for making smart decisions based on data, making your workplace more efficient and successful.

The post OKR: The Complete Guide to Objectives and Key Results [examples & templates] 🔑 appeared first on Noxit.

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Introducing Our FREE OKR Template for Excel

 

Just as CRM tools have evolved dramatically in the past decade, it’s time to elevate our approach to goal management by implementing OKR template. Relying on simple spreadsheets to handle company objectives is like using Excel to manage your most important customers (unthinkable, right?).

 

But we understand that not every business is ready for the tools of the future just yet. That’s why we’ve created an incredibly user-friendly Excel sheet for OKRs (Objectives & Key Results). It’s a transitional solution for those who want to bring order to their goal-setting process and have a better template.

 

Here are some benefits you’ll be getting:

Clear goals: Helps everyone understand and work towards the same goals.
Trackable progress: It also makes it easy to measure and see how well we’re doing on our goals, keeping everyone accountable.
Save time and adapt: Provides a quick and organized way to set goals, and we can easily change them as needed.

 

Unlock to get Started with Our OKR Template

 

Our free resource empowers you to initiate a more structured and efficient method of setting and monitoring objectives. Without the need for intricate software installations, you can simply download our template and set your business on the trajectory toward unparalleled success.

 

Be sure to seize the opportunity provided by NOQX to revolutionize your goal-setting approach. Dive into the world of our OKR template today!

 

By integrating this innovative tool into your workflow, you’re not just embracing change. You’re also propelling your business into a realm of heightened efficiency and strategic clarity. Don’t let this chance slip away – take advantage of our OKR template and witness the transformation in your goal-setting process.

 

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