5 customisable OKR examples for Employee Compensation
What are Employee Compensation 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 understand that setting OKRs can be challenging, so we have prepared a set of examples tailored for Employee Compensation. Take a peek at the templates below to find inspiration and kickstart your goal-setting process.
If you want to learn more about the framework, you can read our OKR guide online.
Building your own Employee Compensation 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 Employee Compensation OKRs examples
We've added many examples of Employee Compensation Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.
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 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
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 develop a superior compensation and benefits package within budget constraints
- Develop a superior compensation and benefits package within budget constraints
- Increase overall employee satisfaction with compensation and benefits by 15%
- Conduct employee surveys to assess satisfaction with current compensation
- Implement a comprehensive, revised compensation plan
- Research competitive benefits in similar industries
- Negotiate with existing benefit providers for a 5% reduction in expenses
- Identify all costs associated with current benefit providers
- Develop cost-cutting strategies and proposals
- Engage benefit providers in renegotiation discussions
- Identify and implement cost-saving measures to fund improved benefits by 10%
- Analyze current expenses to identify potential areas for cost reduction
- Allocate saved funds to improve benefits by 10%
- Develop and enforce a cost-saving plan based on the analysis
5. 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
Employee Compensation 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's audit dashboard will highlight opportunities to improve OKRsTip #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's check-ins will save you hours and increase transparencyTip #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 Employee Compensation OKRs in a strategy map
Quarterly OKRs should have weekly updates to get all the 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.
Tability's Strategy Map makes it easy to see all your org's OKRsIf 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 Employee Compensation OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to enhance work ethos focusing on integrity, speed, passion, and transparency
- OKRs to enhance overall customer experience
- OKRs to foster a vibrant, energetic monday-feels-like-friday workplace culture
- OKRs to improve code quality through effective code reviews
- OKRs to increase overall health and wellbeing
- OKRs to enhance customer-centric approach in service delivery
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.