3 customisable OKR examples for Payroll Accuracy
What are Payroll Accuracy 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.
Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.
To aid you in setting your goals, we have compiled a collection of OKR examples customized for Payroll Accuracy. Take a look at the templates below for inspiration and guidance.
If you want to learn more about the framework, you can read our OKR guide online.
Building your own Payroll Accuracy 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 Payroll Accuracy OKRs examples
You'll find below a list of Objectives and Key Results templates for Payroll Accuracy. We also included strategic projects for each template to make it easier to understand the difference between key results and projects.
Hope you'll find this helpful!
1. OKRs to increase accuracy and efficiency in processing payrolls
Increase accuracy and efficiency in processing payrolls
Reduce payroll errors by 30% through advanced tracking and verification processes
Conduct bi-weekly payroll verification audits
Standardize employee timesheet submission process
Implement advanced payroll tracking software
Conduct training for payroll staff to improve knowledge of new processes by 20%
Identify areas needing improvement in current payroll procedures
Implement training and assess knowledge improvement
Develop comprehensive training program for new processes
Implement automatic payroll system to save 15% processing time
Train staff members on the new system usage
Research and select a suitable automatic payroll system
Monitor and adjust the system for efficiency
2. OKRs to improve payroll accuracy and efficiency
Improve payroll accuracy and efficiency
Increase payroll processing speed by 15% by streamlining manual processes
Identify redundant or outdated steps in the current payroll process
Implement automated payroll software to eliminate manual entries
Train staff on efficient usage of automated payroll systems
Decrease payroll errors by 20% through implementation of automated checks
Research and select appropriate payroll automation software
Train staff on new software operations
Implement and integrate selected software into system
Reduce payroll processing time by 25% by training staff on best practices
Conduct periodic evaluations to monitor improvement
Provide materials on efficient payroll processing techniques
Implement regular training sessions on payroll best practices
3. OKRs to enhance accuracy and swiftness in timesheets processing
Enhance accuracy and swiftness in timesheets processing
Decrease timesheets processing errors by 25%
Conduct regular training on proper timesheet completion
Implement timesheet review and approval process
Automate timesheet submission using software
Increase timesheet submissions' compliance rate to 98%
Develop an incentive program for consistent compliance
Implement automated reminders for timesheet submission deadlines
Provide training on importance and process of timesheet submission
Reduce average processing time per timesheet to under 15 minutes
Schedule regular training sessions on timesheet completion
Implement a digital program to automate timesheet processing
Streamline timesheet procedures for efficiency
Payroll Accuracy 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
Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your 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
Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.
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 Payroll Accuracy OKRs in a strategy map
The rules of OKRs are simple. Quarterly OKRs should be tracked weekly, and yearly OKRs should be tracked monthly. 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
We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using a proper OKR-tracking tool for it.
![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 Payroll Accuracy OKR templates
We have more templates to help you draft your team goals and OKRs.
OKRs to deliver an excellent product with seamless usability
OKRs to enhance intra-team communication among managers and staff
OKRs to enhance training areas for improvement identification
OKRs to attain an 'A' grade for the grading period
OKRs to amplify flying school enrolment through active marketing approaches
OKRs to cultivate an inclusive and engaging work environment for all employees
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.