Why weighted key results?
Typically, 3-5 key results are defined to measure the achievement of the objective. These key results’ progress influence objective attainment. However, in some cases all key results do not have an equal impact on the objective progress.
It is a common practice to identify the impact and importance of key results on objectives by assigning them weights. Weights can be increased or decreased based on the importance of key results. Internally, weights may be decided and discussed with team members.
Assigning weights to key results and discussing with employees
- Helps them prioritize their activities and plan their efforts on a daily basis
- Communicates key result’s relative significance to the goals of the department and organization.
How weighted key results work?
Weighted Key Results allows you to set weight and define importance for every key result. The sum of weights should be equal to 1. Each key result’s weighted average will be considered to calculate the objective overall progress. If no weights given, all key results will be treated equally. Weights can be assigned to key results using.
- Per unit weighting ( Adding up to 1)
- Percentage weighting ( Adding up to 100%)
- Numeric weighting ( 5,4,3,2,1: where 5 is the highest weighting and 1, lowest)
Profit supports per unit weighting (0 to 1 scale) adding up to 1.
Let see, with an example, how weights can be practical in a situation. In an emerging startup, A HR manager creates an OKR for his team.
Objective: Improve Company Performance
KR 1: Launch Talent Review Program
KR 2: Launch Upward Feedback Program
KR 3: Develop Framework for Succession Program
While all the key results share the common objective, he decides the 3rd key result should be given less weight as it is not that difficult to attain compared to the remaining key results. When he assigns these key results to his team members, he can choose a new employee who also needs to focus on developing job and domain knowledge for the third key result.
To define key results in Profit, please refer to the steps in here.