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tability.ioWhat are Compliance Reporting 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 Compliance Reporting 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.
Compliance Reporting OKRs examples
You will find in the next section many different Compliance Reporting 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 processes to support accurate and timely compliance reporting
ObjectiveImprove accuracy and efficiency of compliance reporting processes
KRAchieve 100% on-time submission of compliance reports through improved project management and accountability
Implement consequences for missed deadlines- Assign individual responsibility for each report
- Develop clear project timeline with deadlines
- Conduct regular progress review meetings
- KRReduce compliance reporting errors by 20% through improved data gathering and validation
- Implement automated data validation processes
- Establish clear data entry and reporting protocols for all stakeholders
- Conduct regular audits of compliance data for accuracy
- Train compliance reporting team on proper data gathering techniques
- KRIncrease compliance reporting accuracy by 15% through staff training and quality control checks
- Establish quality control checks for compliance reporting procedures
- Review and revise reporting templates, instructions, and documentation to reduce errors
- Develop and implement a comprehensive staff training program
- Provide ongoing coaching and feedback to staff to improve accuracy
- KRImplement automated compliance reporting processes to reduce reporting time by 30%
- Implement automation tools and procedures to streamline reporting
- Test and optimize automated compliance reporting process
- Identify compliance reporting requirements
- Assess current reporting process and areas of improvement
OKRs to enhance precision and pace in state regulatory reporting
- ObjectiveEnhance precision and pace in state regulatory reporting
- KRImplement a new automation process to decrease reporting time by 30%
- Train staff on using the new automation system
- Procure an automation system suitable for our needs
- Identify current reporting processes that can be automated
- KRReduce regulatory reporting errors by 15% via enhanced employee training
- Establish quality checks to identify and fix reporting errors promptly
- Implement regular training sessions for all reporting staff
- Develop comprehensive training program focused on regulatory reporting procedures
- KRIncrease report accuracy by 20% through intensive data validation by quarter-end
- Regularly review and correct data errors
- Train staff on improved data collection methods
- Implement stricter data validation procedures immediately
How to write your own Compliance Reporting OKRs
1. Get tailored OKRs with an AI
You'll find some examples below, but it's likely that you have very specific needs that won't be covered.
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.
- 1. Go to Tability's plan editor
- 2. Click on the "Generate goals using AI" button
- 3. Use natural language to describe 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.
- 1. Go to Tability's plan editor
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on "Generate analysis"
Tability's Strategy Map makes it easy to see all your org's OKRsTability 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.
Compliance Reporting 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 Compliance Reporting OKRs
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
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.
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 Compliance Reporting OKR templates
We have more templates to help you draft your team goals and OKRs.