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tability.ioWhat are Retention Strategies 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.
We've tailored a list of OKRs examples for Retention Strategies to help you. You can look at any of the templates below to get some inspiration for your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
Retention Strategies OKRs examples
You'll find below a list of Objectives and Key Results templates for Retention Strategies. 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!
OKRs to reduce turnover rate through retention strategies
ObjectiveIncrease employee retention rate
KRImplement a mentorship program for new employees- KRHost monthly employee appreciation events
- KRConduct exit interviews and analyze feedback to improve retention efforts
- KRDevelop a career growth plan for each employee
OKRs to improve talent onboarding and retention strategies
- ObjectiveImprove talent onboarding and retention strategies
- KRDecrease new hire turnover rate by 20%
Establish a mentorship program for new employees- Implement a comprehensive and engaging orientation program
- Improve the company's benefits and compensation package
- KRImplement improved onboarding program leading to 95% new hire satisfaction
- Develop an interactive, comprehensive orientation for new hires
- Survey new hires to identify areas needing improvement
- Regularly update onboarding materials based on feedback
- KRIncrease retention rate to 90% among employees within their first year
- Create clear advancement opportunities within the company
- Implement comprehensive onboarding program for new hires
- Regularly conduct employee satisfaction surveys
OKRs to enhance talent retention strategies
- ObjectiveEnhance talent retention strategies
- KRImplement training programs to improve skills of at least 75% of the employees
- Implement and monitor said training programs
- Develop appropriate training programs in those areas
- Identify areas of skill deficiency among employees
- KRIncrease employee engagement scores by 15% through enhanced communication strategies
- Introduce an open-door policy for improved cross-level communication
- Conduct regular, structured feedback sessions to address employee concerns
- Implement weekly team meetings to discuss objectives and progress
- KRReduce staff turnover by 10% by implementing a comprehensive employee satisfaction program
- Implement feedback from satisfaction surveys
- Develop an employee satisfaction program
- Conduct regular employee satisfaction surveys
OKRs to enhance talent acquisition and retention strategies
- ObjectiveEnhance talent acquisition and retention strategies
- KRImplement an updated onboarding process leading to 20% decrease in new hire turnover
- Train managers on executing the new onboarding process
- Track new hire turnover rates and adjust strategies
- Design comprehensive onboarding material for new hires
- KRBoost employee engagement scores by 15% using improved retention programs
- Enhance internal communication and feedback systems
- Promote work-life balance policies and benefits
- Implement comprehensive employee training and development programs
- KRIncrease number of qualified applicants by 25% through targeted recruitment strategies
- Implement employer branding strategy to attract potential candidates
- Utilize targeted job advertisements on niche platforms
- Develop employee referral programs to reach qualified individuals
OKRs to increase revenue by optimizing sales strategies and processes
- ObjectiveIncrease revenue by optimizing sales strategies and processes
- KRImprove customer retention rate by 15% through targeted loyalty programs and personalized communication
- Analyze customer data to identify preferences and develop personalized loyalty program offers
- Conduct regular surveys to gather customer feedback and identify areas for improvement
- Implement automated system for personalized communication through email, SMS, and social media
- Monitor, track, and evaluate the effectiveness of loyalty programs and communication strategies
- KRImplement a streamlined sales pipeline, reducing the time from lead to conversion by 20%
- KRAcquire 100 new high-value customers through targeted marketing campaigns
- KRIncrease average order value by 10% through upselling and cross-selling techniques
- Create visually appealing and persuasive product displays to encourage add-on sales
- Train sales team on effective upselling and cross-selling strategies
- Offer bundled discounts for purchasing complementary products together
- Implement personalized product recommendations based on customer browsing and purchase history
OKRs to enhance customer experience satisfaction
- ObjectiveEnhance customer experience satisfaction
- KRIncrease overall customer satisfaction rating by 10%
- Promptly address and resolve customer complaints
- Implement customer feedback surveys after purchases
- Organize regular staff customer service training
- KRAchieve 20% repeat business from existing customers
- Implement personalized email marketing campaigns targeting existing customers
- Develop a loyalty program for incentivizing repeat purchases
- Provide excellent customer service to encourage return visits
- KRReduce customer complaint frequency by 15%
- Implement comprehensive staff training for customer service improvement
- Enhance customer feedback collection mechanisms
- Develop efficient quality control measures
OKRs to boost monthly revenue
- ObjectiveBoost monthly revenue
- KRImplement new high-converting marketing strategies to increase customer base by 20%
- Monitor and adjust strategies based on campaign results
- Create and execute targeted marketing campaigns
- Research and identify proven high-conversion marketing techniques
- KRImprove customer retention policy to achieve a 10% increase in repeat sales
- Implement enhanced post-purchase follow-up communication
- Develop targeted customer loyalty rewards program
- Analyze previous sales data for customer purchasing patterns
- KRAchieve a 15% rise in average purchase value per customer by enhancing product line
- Bundle related products for centralized purchases
- Identify popular items and introduce premium versions
- Implement attractive upsell strategies at checkout
OKRs to boost revenue by enhancing account management strategies
- ObjectiveBoost revenue by enhancing account management strategies
- KRImprove account profitability by reducing churn rate by 8%
- Improve customer service responses and resolution time
- Monitor customer interactions for potential churn signals
- Implement customer loyalty programmes to encourage retention
- KREnable upselling opportunities by identifying 10% of existing accounts for expansion
- Implement upselling strategies through targeted communication
- Develop personalized upselling strategies for identified accounts
- Analyze customer data to identify top 10% for potential account growth
- KRIncrease account renewals by 15% through improved client relationship strategies
- Offer incentives for timely renewals
- Implement frequent, personalized communication with existing clients
- Develop and provide exclusive benefits for loyal customers
How to write your own Retention Strategies 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.
Retention Strategies 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
Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.
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
Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.
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 Retention Strategies OKRs
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
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 Retention Strategies OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to improve service recovery time in 2024
- OKRs to obtain As and Bs in English exam
- OKRs to implement a cost-effective solution for portfolio tracking
- OKRs to increase website traffic by 30% through SEO and content marketing
- OKRs to streamline and optimize company's resource management
- OKRs to streamline ticket resolution process in DACH region