7 customisable OKR examples for Compensation Manager
What are Compensation Manager 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 Manager 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.
Building your own Compensation Manager OKRs with AI
While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.
Our customisable Compensation Manager OKRs examples
You will find in the next section many different Compensation Manager 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!
1. OKRs to enhance employee satisfaction through competitive compensation and benefits
Enhance employee satisfaction through competitive compensation and benefits
Implement 3 new benefits programs focused on work-life balance
Submit proposals for manager approval
Research best practices for work-life balance benefits programs
Create draft proposals for three new programs
Create 2 incentive schemes promoting professional growth and skill development
Achieve a 10% increase in overall employee compensation
Assess current compensation rates against industry standards
Allocate increased budget for employee salaries
Implement an effective performance-based reward system
2. OKRs to boost comprehension in compensation sector via webinar and seminar attendance
Boost comprehension in compensation sector via webinar and seminar attendance
Apply learnt compensation strategies in two practical projects or simulations
Attend a minimum of two compensation-related webinars per month
Register for at least two webinars every month
Attend and actively participate in the webinars
Research and find relevant compensation-related webinars to attend
Participate in at least one compensation-focused seminar or conference
Attend and engage actively at the event
Research upcoming compensation-focused seminars or conferences
Register for a chosen seminar or conference
3. OKRs to enhance competitiveness in compensation and benefits program
Enhance competitiveness in compensation and benefits program
Implement 3 new competitive benefits proposed by employees after survey
Review employee survey results for new benefit suggestions
Announce and roll out new benefits to employees
Develop and cost implementation plan for proposed benefits
Conduct benchmarking study against 10 industry leading companies in compensation and benefits
Compare and analyze collected data against our company's system
Identify 10 industry-leading companies with top compensation/benefits packages
Gather data on these companies' compensation/benefits
Achieve 10% decrease in employee turnover tied to compensation issues
Implement competitive salary matching based on industry standards
Establish transparent, merit-based pay raises and promotions
Conduct an internal survey to identify compensation dissatisfaction
4. OKRs to enhance employee satisfaction with total remuneration
Enhance employee satisfaction with total remuneration
Reduce employee turnover rate by 5% through competitive salary benchmarking and adjustments
Achieve a 10% increase in employee participation in the performance-based bonus program
Implement a feedback mechanism to address concerns and suggestions related to the bonus program
Enhance communication channels to educate employees about the performance-based bonus program
Offer incentives for employees who actively engage and participate in the bonus program
Provide regular updates on performance metrics and achievements to increase employee interest
Increase usage of flexible benefits by 20% through targeted awareness campaigns
Develop engaging content and materials highlighting the advantages of flexible benefits
Utilize multiple communication channels to promote the benefits and increase awareness
Regularly monitor and analyze the campaign's impact and make necessary adjustments for improvement
Create a comprehensive targeted awareness campaign strategy for flexible benefits
Improve the average rating of employee satisfaction surveys on total compensation by 15%
Regularly evaluate and adjust compensation policies to align with industry standards and employee expectations
Implement additional benefits or perks to enhance the overall compensation package
Conduct a comprehensive review of the current total compensation package for employees
Communicate and educate employees about the various components of their total compensation
5. OKRs to improve Compensation Plan
Improve Compensation Plan
Increase employee satisfaction by implementing pay raises based on performance evaluation
Improve cost efficiency by optimizing the compensation plan to decrease overhead expenses
Enhance equity by conducting a thorough analysis to identify any pay disparities among employees
Develop and implement strategies to address identified pay disparities and ensure equal compensation
Collect and analyze salary data to identify any pay disparities among employees
Conduct interviews or surveys to gather feedback on employee perceptions of pay equity
Compare compensation across different job roles to determine if there are significant gaps
Reduce turnover rate by revising the compensation structure to align with market standards
Develop a revised compensation plan that aligns with market standards and addresses employee needs
Review and analyze the company's existing compensation structure
Conduct market research to determine current compensation standards for relevant positions
Communicate the revised compensation structure to employees and seek their feedback and suggestions
6. OKRs to drive employee engagement through effective Compensation & Benefits strategies
Drive employee engagement through effective Compensation & Benefits strategies
Reduce benefits-related inquiries by 20% through improving benefits communication
Develop clear, comprehensive benefits documentation for employees
Create a dedicated benefits FAQ section on internal portal
Implement regular awareness sessions regarding benefits
Implement a reward system leading to 15% more positive employee feedback
Identify what truly motivates employees for suitable rewards
Implement and communicate the new reward system companywide
Create a clear, attainable, reward-based performance metric
Increase participation in compensation surveys by 25%
Provide incentives for completing the survey
Develop engaging marketing materials to promote compensation surveys
Simplify the process to fill out surveys
7. OKRs to develop a fair, competitive salary, benefits and housing strategy
Develop a fair, competitive salary, benefits and housing strategy
Establish a housing assistance program for the 50% lowest paid employees
Identify the 50% lowest paid employees
Determine housing assistance budget availability
Develop a robust housing assistance program
Implement adjustments ensuring 95% of employees perceive their salary as equitable
Conduct anonymous survey to gauge current salary satisfaction levels
Implement salary adjustments based on survey and market analysis
Analyze market rates for equivalent roles and experience
Benchmark salaries and benefits against similar roles in a market analysis
Identify similar roles in the market for comparison
Research and compile salary data for these roles
Compare benefit packages offered for each role
Compensation Manager OKR best practices to boost success
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.
![Tability Insights Dashboard](https://tability-templates-v2.vercel.app/_next/static/media/tability-insights-board.e70f9466.png)
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.
![Tability Insights Dashboard](https://tability-templates-v2.vercel.app/_next/static/media/checkins-graph.b2aec458.png)
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 turn your Compensation Manager OKRs in a strategy map
OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
Spreadsheets are enough to get started. Then, once you need to scale you can use a proper OKR platform to make things easier.
![A strategy map in Tability](https://tability-templates-v2.vercel.app/_next/static/media/tability_strategy_map.2ad25843.png)
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 Manager OKR templates
We have more templates to help you draft your team goals and OKRs.
OKRs to enhance IT service delivery with 30% faster response time
OKRs to increase system transaction success rate to 90%
OKRs to achieve fluency in English language
OKRs to reduce manual tasks through automation and process improvement
OKRs to enhance provision of advisory services
OKRs to increase website visibility and user engagement through SEO and blog optimization
OKRs resources
Here are a list of resources to help you adopt the Objectives and Key Results framework.
- To learn: What is the meaning of OKRs
- Blog posts: ODT Blog
- Success metrics: KPIs examples
What's next? Try Tability's goal-setting AI
You can create an iterate on your OKRs using Tability's unique goal-setting AI.
Watch the demo below, then hop on the platform for a free trial.