OKR template to improve indirect purchasing to support HR's talent strategies

public-lib · Published 9 months ago

Your OKR template

The primary goal of this OKR is to refine indirect purchasing processes, thereby bolstering the HR's recruitment strategies. Efforts would be aimed at reducing vendor contract costs associated with HR tools and services significantly by 10%. The strategy includes outlining a negotiation plan focused on cost-cutting, conducting a thorough analysis of key vendors and existing contracts to identify negotiating advantages, and organizing contract renegotiation meetings with these vendors.

The next objective would be to form stable partnerships with at least three high-quality talent sourcing agencies. This process involves scheduling discussions to explore potential partnership opportunities, identifying suitable talent sourcing agencies through careful research, and finalizing the partnership contracts through negotiation.

Beyond forming partnerships, this OKR aims to draw potential talents by introducing a competitive benefits package appealing to at least 85% of them. To ascertain that the developed package is attractive, a survey capturing industry-standard benefits package would be conducted. The results of the survey would then be analyzed to identify the most favored benefits, and these favored benefits would form the bedrock of the design of the new benefits package.

This OKR underscores the necessity of a cost-conscious, strategic approach to indirect purchases in support of HR's talent strategies. By negotiating cheaper contracts, collaborating with quality agencies, and offering attractive benefit packages, the initiative looks to boost recruitment and overall talent strategies indirectly.

ObjectiveImprove indirect purchasing to support HR's talent strategies
KRNegotiate 10% cost reduction in vendor contracts for HR tools and services
Develop a negotiation strategy focusing on cost reduction
Identify key vendors and analyze existing contracts for negotiation leverage
Organize meetings with vendors to discuss contract renegotiations
KREstablish long-term partnerships with 3 quality talent sourcing agencies
Schedule meetings to discuss partnership opportunities
Research and identify potential talent sourcing agencies
Negotiate and finalize the agreements
KRImplement benefits package appealing to 85% of potential talents by surveying industry standards
Conduct a survey of industry standards for benefits packages
Analyze survey results to identify popular benefits
Design benefits package based on analyzed data

Use in Tability

How to edit and track OKRs with Tability

You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.

Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.

With Tability you can:

Use AI to draft a complete set of OKRs in seconds
Connect your OKRs and team goals to your project
Automate reporting with integrations and built-in dashboard

Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.

The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.

Step 1. Sign up for a free Tability account

Go tohttps://tability.app/signup and create your account (it's free!)

Step 2. Create a plan

Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.

Step 3. Use the magic importer

Click on Use magic import to open up the Magic Import modal.

Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.

Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!

Now, just click on Import from text and let the magic happen.

Once your example is in the plan editor, you will be able to:

Edit the objectives, key results, and tasks
Click on the target 0 → 100% to set better target
Use the tips and the AI to refine your goals

Step 4. Publish your plan

Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.

From there you will have access to all the features that will help you and your team save hours with OKR reporting.

10+ built-in dashboards to visualise progress on your goals
Weekly reminders, data connectors, and smart notifications
9 views to map OKRs to strategic projects
Strategy map to align teams at scale