2 Compensation Strategy OKR examples with initiatives

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What are Compensation Strategy 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 Strategy 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.

Compensation Strategy OKRs examples

You will find in the next section many different Compensation Strategy 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 effectiveness as a Compensation & Benefits Specialist in team activities

ObjectiveEnhance effectiveness as a Compensation & Benefits Specialist in team activities
KRImprove team communication by conducting and documenting 2 effective team meetings per week
Conduct structured, goal-oriented team meetings
Document and distribute meeting minutes post-meet
Schedule two weekly team meetings in the calendar
KRDeliver 100% of benefit reports accurately and on-time for all team activities
Regularly review and verify accuracy of benefit reports
Implement strict deadlines for benefit report submissions
Establish a reliable system for tracking and logging benefit activities
KRDevelop and implement one new beneficial compensation strategy by end of the quarter
Research various successful compensation strategies in similar industries
Implement the strategy within company and gauge its effectiveness
Design a new compensation strategy based on these findings

effective-communication compensation-strategy compensation-&-benefits-specialist team-leader compensation-&-benefits-team upper-management-team

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OKRs to develop a fair, competitive salary, benefits and housing strategy

ObjectiveDevelop a fair, competitive salary, benefits and housing strategy
KREstablish 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
KRImplement 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
KRBenchmark 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

market-analysis salary-satisfaction human-resources-manager compensation-analyst human-resources finance

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How to write your own Compensation Strategy 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 OKRs

Tability 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.

Compensation Strategy 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 Compensation Strategy 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

Spreadsheets are enough to get started. Then, once you need to scale you can use a proper OKR platform to make things easier.

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 Strategy OKR templates

We have more templates to help you draft your team goals and OKRs.

2 OKR examples for Compensation Strategy