OKRs is the best-in-class objective setting method used by companies like Google to create challenging, clearly defined goals. Each objective contains three key results that define how the objective will be measured and employees are encouraged to challenge themselves to go above and beyond what's expected.
The process for setting OKRs is:
The industry standard is to make all OKRs transparent across the business to create accountability and encourage cross-functional teamwork. However, you can also define the app permissions to make objectives confidential.
If you're using company objectives you can also customize this OKR template to add an element that aligns the individual OKR to one or more organizational objectives. This will give a strategic framework to individual OKRs and allow senior leadership to see how the organizational goals are being supported by all staff.