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tability.ioWhat are Legal Technology 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 Legal Technology 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.
Legal Technology OKRs examples
You'll find below a list of Objectives and Key Results templates for Legal Technology. 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 achieve efficiency in contract reviews and legal cost reduction
- ObjectiveAchieve efficiency in contract reviews and legal cost reduction
- KRImplement automated legal tech tools to assist with contract reviews
- Select and purchase a suitable automated contract review software
- Train the team to use the selected tech tools effectively
- Research various automated legal tech tools available in the market
- KRNegotiate or reassess fees with legal service providers for 15% cost reduction
- Initiate negotiation meetings with each provider
- Research market rates for comparison in negotiations
- Identify current legal service providers and review contract details
- KRDecrease average contract review time by 50%
- Train staff on efficient contract reviewing techniques
- Implement automation tools to expedite contract review process
- Streamline the contract review workflow
OKRs to enhance Operational Efficiency & Productivity of Legal Team
- ObjectiveEnhance Operational Efficiency & Productivity of Legal Team
- KRIncrease process automation by 30% to reduce manual legal tasks
- Train staff on utilizing automation tools effectively
- Invest in automation software targeting identified tasks
- Identify tasks suitable for automation within legal processes
- KRImplement 2 new productivity tools and train the team to proficiently utilise them
- Schedule and conduct training sessions for the team
- Identify 2 suitable productivity tools aligned with team needs
- Create comprehensive, user-friendly training materials for both tools
- KRAchieve a 20% improvement in meeting Key Performance Indicators (KPI) targets
- Conduct regular training sessions to enhance team performance
- Implement a system for regular monitoring and evaluation of KPIs
- Identify weak areas in current KPI tracking and create improvement strategies
How to write your own Legal Technology 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 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.
Legal Technology 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
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.
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.
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 Legal Technology OKRs
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
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 Legal Technology OKR templates
We have more templates to help you draft your team goals and OKRs.
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