OKR template to improve indirect purchasing to support HR's talent strategies

public-lib · Published 3 months ago

The primary goal of this OKR is to refine indirect purchasing processes, thereby bolstering the HR's recruitment strategies. Efforts would be aimed at reducing vendor contract costs associated with HR tools and services significantly by 10%. The strategy includes outlining a negotiation plan focused on cost-cutting, conducting a thorough analysis of key vendors and existing contracts to identify negotiating advantages, and organizing contract renegotiation meetings with these vendors.

The next objective would be to form stable partnerships with at least three high-quality talent sourcing agencies. This process involves scheduling discussions to explore potential partnership opportunities, identifying suitable talent sourcing agencies through careful research, and finalizing the partnership contracts through negotiation.

Beyond forming partnerships, this OKR aims to draw potential talents by introducing a competitive benefits package appealing to at least 85% of them. To ascertain that the developed package is attractive, a survey capturing industry-standard benefits package would be conducted. The results of the survey would then be analyzed to identify the most favored benefits, and these favored benefits would form the bedrock of the design of the new benefits package.

This OKR underscores the necessity of a cost-conscious, strategic approach to indirect purchases in support of HR's talent strategies. By negotiating cheaper contracts, collaborating with quality agencies, and offering attractive benefit packages, the initiative looks to boost recruitment and overall talent strategies indirectly.
  • ObjectiveImprove indirect purchasing to support HR's talent strategies
  • Key ResultNegotiate 10% cost reduction in vendor contracts for HR tools and services
  • TaskDevelop a negotiation strategy focusing on cost reduction
  • TaskIdentify key vendors and analyze existing contracts for negotiation leverage
  • TaskOrganize meetings with vendors to discuss contract renegotiations
  • Key ResultEstablish long-term partnerships with 3 quality talent sourcing agencies
  • TaskSchedule meetings to discuss partnership opportunities
  • TaskResearch and identify potential talent sourcing agencies
  • TaskNegotiate and finalize the agreements
  • Key ResultImplement benefits package appealing to 85% of potential talents by surveying industry standards
  • TaskConduct a survey of industry standards for benefits packages
  • TaskAnalyze survey results to identify popular benefits
  • TaskDesign benefits package based on analyzed data
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