Speaker 1: HR objectives and key results, aka OKRs, can help you set structured, data-driven goals and quantify your results. However, it can be challenging to develop HR OKRs that are easy to understand, measurable, outcome-driven and inspiring. So, how can you develop OKRs that can help your HR department achieve its goals and contribute to the success of your organization? Let's find out. Hi, I'm Nelly, welcome to another episode of Learning Bites. In today's video, we'll discuss what HR OKRs are and 5 best practices to help you get started. But first, if you're looking for more ways to increase your organizational impact, check out our Stakeholder Management Playbook using the link in the description below. And don't forget to subscribe to the channel, hit the notification button and like this video. Let's dive in. HR OKRs stands for Human Resources, Objectives and Key Results. It is a framework for setting HR objectives, tracking key results and achieving HR goals that impact organizational goals. OKRs are usually set every year and then broken down into quarterly key results. When setting HR OKRs, there are three elements to consider. The objective, the goal that you want to achieve in the future. The key results, the metrics that you need to use to understand if you have achieved your goal or not. The initiatives, the activities and tasks that help you achieve your key results. A less-is-more approach is usually the best way to formulate HR OKRs. You can use the following formula. We will, objective, as measured by, key results. Here's an example. We will become an irresistible employer as measured by a 10-point increase of employer brand recognition to 45. In this example, become an irresistible employer is your objective. And a 10-point increase of employer brand recognition to 45 is your key result. Now that we've established what HR OKRs are, let's look at the five best practices to build successful OKRs for your HR department. Align OKRs with organizational goals. If you want to add value to the business, you need to align your HR OKRs to the broader organizational OKRs. That means translating your organizational goals to OKRs that can fit your departments like recruitment, L&D or HR operations. Keep in mind that some objectives will require you to collaborate with other departments. In that case, you can set up cross-functional teams to work on the key results that help achieve these objectives. Work top-down and bottom-up. OKRs need both top-down and bottom-up support to be successful. Here's how it works. The board or executive committee sets the annual objectives. Middle management then divides these objectives into different key results, often with input from their teams. Individual team members can propose initiatives to achieve the key results, which help reach your desired objectives. Understand what makes good OKRs. There are a few universal characteristics of good OKRs to keep in mind. As a rule, your objective should be qualitative, motivating and ambitious. Aim for between 1-5 objectives per quarter. Meanwhile, your key results should be smart, specific, measurable, achievable, relevant and time-bound. You will need around 2-5 key results per objective. If you have more than that, it can be harder for your team to focus. Make your OKRs strategic. Your HR OKRs need to be strategic if you want them to push your HR organization in the right direction. You can use WorkPath's 5-step framework. Determine your HR priorities. Decide on your focus for the year. This gives you an idea of how each sub-department should draft their OKRs. Set up an alignment workshop. Include all heads of sub-departments, OKR owners and leadership members. This helps you cover all areas, address challenges and assign responsibilities for each OKR. Have an OKR kick-off. Present all the signed-off OKRs to the entire HR department. Doing this early in the year gives your team members enough time to set their individual goals and targets. Check-ins. Organize check-ins on a departmental and individual level to provide support and continuous learning opportunities. Feedback and review. Review what is and isn't working as the year progresses. Ask questions like, are the OKRs working? Are the OKRs too ambitious? What are the challenges? Give a weighted value to each KR. By giving a percentage weight to a key result, you'll be able to prioritize daily efforts and activities. It also helps you determine how much of your objective you've achieved and hold sub-departments accountable. Here's an example of what this could look like for an OKR focused on increasing employer brand awareness in the industry. And there you have it. Five best practices for setting up successful HR OKRs. Keep these tips in mind and you'll be that much closer to hitting your strategic goals. And as always, please give us a like for our video, subscribe to the channel and hit that notification bell.