Enhance competitiveness in compensation and benefits program
A starting point for clearer priorities and measurable progress. Make the targets your own.
Suggested timeframe: Set with your team1 objective · 3 key results
YOUR STARTING POINTHR & People OKRs
OBJECTIVE
Enhance competitiveness in compensation and benefits program
KR 1
Implement 3 new competitive benefits proposed by employees after survey
KR 2
Conduct benchmarking study against 10 industry leading companies in compensation and benefits
KR 3
Achieve 10% decrease in employee turnover tied to compensation issues
Ideas to get you moving
Review employee survey results for new benefit suggestions
Announce and roll out new benefits to employees
Develop and cost implementation plan for proposed 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
Implement competitive salary matching based on industry standards
Establish transparent, merit-based pay raises and promotions
Conduct an internal survey to identify compensation dissatisfaction
Example targets. Adapt to your baseline before you start.
About this template
The OKR titled "Enhance competitiveness in compensation and benefits program" is focused on improving the company's employee benefits through feedback and benchmarking. One objective is to implement three new competitive benefits suggested by employees, with initiatives including reviewing survey results, rolling out the new benefits, and developing an implementation plan.
Another objective under this OKR is to conduct a benchmarking study against 10 industry-leading companies. This involves comparing and analyzing the data against the company's existing system, identifying companies with high-ranking compensation and benefit packages, and collecting data about their programs.
The final objective is to achieve a 10% decrease in employee turnover related to compensation issues. This can be accomplished by implementing competitive salary matching based on industry standards, establishing a clear, merit-based system for pay raises and promotions, and identifying employee dissatisfaction through internal surveys.
These initiatives together aim to make the company a more competitive and appealing place to work through its compensation and benefits program, thereby reducing turnover and increasing job satisfaction amongst its employees.
Make it work for your team
01
Set your baseline. Check where you are today, then choose targets that stretch your team.
02
Agree on ownership. Give each key result a clear owner and a source of data.
03
Check in every week. Review the numbers, share confidence, and decide what needs attention.
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---
title: Enhance competitiveness in compensation and benefits program
objectives:
- title: Enhance competitiveness in compensation and benefits program
outcomes:
- title: Implement 3 new competitive benefits proposed by employees after survey
from: 0.0
to: 100.0
score_format: _number_%
initiatives:
- title: Review employee survey results for new benefit suggestions
- title: Announce and roll out new benefits to employees
- title: Develop and cost implementation plan for proposed benefits
- title: Conduct benchmarking study against 10 industry leading companies in compensation
and benefits
from: 0.0
to: 100.0
score_format: _number_%
initiatives:
- title: Compare and analyze collected data against our company's system
- title: Identify 10 industry-leading companies with top compensation/benefits
packages
- title: Gather data on these companies' compensation/benefits
- title: Achieve 10% decrease in employee turnover tied to compensation issues
from: 0.0
to: 100.0
score_format: _number_%
initiatives:
- title: Implement competitive salary matching based on industry standards
- title: Establish transparent, merit-based pay raises and promotions
- title: Conduct an internal survey to identify compensation dissatisfaction
HR & People OKR example
Suggested timeframe: Set with your team
1 objective · 3 key results
Example targets. Adapt to your baseline before you start.