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3 OKR examples for Compensation And Benefits Team

What are Compensation And Benefits Team OKRs?

The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.

Writing good OKRs can be hard, especially if it's your first time doing it. You'll need to center the focus of your plans around outcomes instead of projects.

We have curated a selection of OKR examples specifically for Compensation And Benefits Team to assist you. Feel free to explore the templates below for inspiration in setting your own goals.

If you want to learn more about the framework, you can read our OKR guide online.

How to write your own Compensation And Benefits Team OKRs

Option 1. Turn ideas into OKRs with Tability AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here.

You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.

Tability will then use your prompt to generate a fully editable OKR template.

Watch the video below to see it in action 👇

Option 2. Optimise existing OKRs with Tability Feedback tool

If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.

AI feedback for OKRs in TabilityTability's Strategy Map makes it easy to see all your org's OKRs

Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.

You can then decide to accept the suggestions or dismiss them if you don't agree.

Option 3. Use the free OKR generator

If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.

Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.

Compensation And Benefits Team OKRs examples

You will find in the next section many different Compensation And Benefits Team Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).

Hope you'll find this helpful!

OKRs to enhance competitiveness in compensation and benefits program

  • ObjectiveEnhance competitiveness in compensation and benefits program
  • KRImplement 3 new competitive benefits proposed by employees after survey
  • TaskReview employee survey results for new benefit suggestions
  • TaskAnnounce and roll out new benefits to employees
  • TaskDevelop and cost implementation plan for proposed benefits
  • KRConduct benchmarking study against 10 industry leading companies in compensation and benefits
  • TaskCompare and analyze collected data against our company's system
  • TaskIdentify 10 industry-leading companies with top compensation/benefits packages
  • TaskGather data on these companies' compensation/benefits
  • KRAchieve 10% decrease in employee turnover tied to compensation issues
  • TaskImplement competitive salary matching based on industry standards
  • TaskEstablish transparent, merit-based pay raises and promotions
  • TaskConduct an internal survey to identify compensation dissatisfaction

OKRs to enhance employee satisfaction through competitive compensation and benefits

  • ObjectiveEnhance employee satisfaction through competitive compensation and benefits
  • KRImplement 3 new benefits programs focused on work-life balance
  • TaskSubmit proposals for manager approval
  • TaskResearch best practices for work-life balance benefits programs
  • TaskCreate draft proposals for three new programs
  • KRCreate 2 incentive schemes promoting professional growth and skill development
  • KRAchieve a 10% increase in overall employee compensation
  • TaskAssess current compensation rates against industry standards
  • TaskAllocate increased budget for employee salaries
  • TaskImplement an effective performance-based reward system

OKRs to develop a superior compensation and benefits package within budget constraints

  • ObjectiveDevelop a superior compensation and benefits package within budget constraints
  • KRIncrease overall employee satisfaction with compensation and benefits by 15%
  • TaskConduct employee surveys to assess satisfaction with current compensation
  • TaskImplement a comprehensive, revised compensation plan
  • TaskResearch competitive benefits in similar industries
  • KRNegotiate with existing benefit providers for a 5% reduction in expenses
  • TaskIdentify all costs associated with current benefit providers
  • TaskDevelop cost-cutting strategies and proposals
  • TaskEngage benefit providers in renegotiation discussions
  • KRIdentify and implement cost-saving measures to fund improved benefits by 10%
  • TaskAnalyze current expenses to identify potential areas for cost reduction
  • TaskAllocate saved funds to improve benefits by 10%
  • TaskDevelop and enforce a cost-saving plan based on the analysis

Compensation And Benefits Team OKR best practices

Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.

Here are a couple of best practices extracted from our OKR implementation guide 👇

Tip #1: Limit the number of key results

The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the OKRs.

We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.

Tip #2: Commit to weekly OKR check-ins

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.

Being able to see trends for your key results will also keep yourself honest.

Tip #3: No more than 2 yellow statuses in a row

Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.

As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.

Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.

How to track your Compensation And Benefits Team OKRs

Your quarterly OKRs should be tracked weekly in order to get all the benefits of the OKRs framework. Reviewing progress periodically has several advantages:

Spreadsheets are enough to get started. Then, once you need to scale you can use a proper OKR platform to make things easier.

If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.

More Compensation And Benefits Team OKR templates

We have more templates to help you draft your team goals and OKRs.

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