7 OKR examples for Cost Efficiency

What are Cost Efficiency 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 Cost Efficiency 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.

Building your own Cost Efficiency OKRs with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.

Feel free to explore our tools:

Our Cost Efficiency OKRs examples

You will find in the next section many different Cost Efficiency 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 improve cost efficiency through optimal resource allocation

  • ObjectiveImprove cost efficiency through optimal resource allocation
  • Key ResultReduce waste in resource allocation by identifying and eliminating non-essential expenses by 20%
  • TaskImplement and monitor the expense reduction plan
  • TaskIdentify non-essential expenses in current resource allocation
  • TaskCreate a plan to reduce these expenses by 20%
  • Key ResultReduce overall operational costs by 10% through careful cost monitoring and control
  • TaskImplement regular audits to identify unnecessary expenses
  • TaskEnforce strict budgeting and reduce waste
  • TaskIntroduce cost tracking systems in all departments
  • Key ResultIncrease resource utilization rate by 15% while maintaining performance quality
  • TaskImplement efficient resource allocation strategies
  • TaskProvide regular training for optimal resource utilization
  • TaskMonitor and optimize resource usage regularly

OKRs to increase cost management efficiency for people and operations

  • ObjectiveIncrease cost management efficiency for people and operations
  • Key ResultImplement cost tracking system to monitor and analyze spend across departments
  • TaskTrain department heads in cost tracking system usage
  • TaskLaunch system and begin monitoring departmental expenses
  • TaskSelect cost tracking software suitable for our business needs
  • Key ResultTrain managers on cost management best practices to mitigate overspending
  • TaskFollow-up on training effectiveness and changes
  • TaskIdentify experts to guide practice implementation
  • TaskArrange cost management training seminars for managers
  • Key ResultReduce operational costs by 10% through process optimization and automation
  • TaskConduct a thorough assessment of current operational processes
  • TaskImplement process optimization and automation strategies
  • TaskIdentify inefficiencies and areas for automation

OKRs to improve efficiency and effectiveness in facilities management

  • ObjectiveImprove efficiency and effectiveness in facilities management
  • Key ResultAchieve 90% satisfaction rate in employee facilities survey
  • TaskImplement updates and improvements based on feedback
  • TaskConduct an initial survey to gauge current satisfaction levels
  • TaskRegularly communicate improvements to employees
  • Key ResultReduce maintenance response time by 15%
  • TaskImplement an automated maintenance request tracking system
  • TaskIncrease maintenance staff availability
  • TaskTrain techs on response time reduction strategies
  • Key ResultDecrease facilities-related expenses by 10%
  • TaskRegularly maintain and repair equipment to avoid costly replacements
  • TaskImplement energy-efficient lighting and heating systems
  • TaskNegotiate lower rates with utilities providers

OKRs to increase efficiency and scalability through cloud deployment

  • ObjectiveIncrease efficiency and scalability through cloud deployment
  • Key ResultEnhance data security by implementing robust cloud security protocols and achieving compliance certifications
  • TaskConduct a comprehensive review of current cloud security protocols and identify weaknesses
  • TaskRegularly monitor and assess cloud security protocols and update as needed
  • TaskDevelop and implement an updated cloud security framework based on industry best practices
  • TaskEnsure all necessary compliance certifications are achieved and regularly maintained
  • Key ResultAchieve a minimum of 99.9% uptime by ensuring seamless integration and high availability in the cloud
  • Key ResultImprove response time by optimizing cloud infrastructure to achieve 20% faster application performance
  • TaskAnalyze current cloud infrastructure to identify performance bottlenecks hindering application response time
  • TaskOptimize code and queries by analyzing and improving inefficient code segments
  • TaskUtilize content delivery network (CDN) for faster content delivery and reduced latency
  • TaskImplement caching mechanisms to store frequently accessed data and minimize database calls
  • Key ResultReduce infrastructure costs by migrating 80% of applications and services to the cloud

OKRs to minimise and optimise operational expenditure effectively

  • ObjectiveMinimise and optimise operational expenditure effectively
  • Key ResultIncrease operational efficiency by 15% through the utilisation of lean methodologies
  • TaskTrain team in lean methodologies and continuous improvement principles
  • TaskContinuously monitor, measure and adjust for improved efficiency
  • TaskImplement lean tools, such as 5S, to optimize processes
  • Key ResultImplement at least 3 cost-saving initiatives within various departments
  • TaskDevelop and present cost-saving initiative proposals
  • TaskIdentify potential cost-saving areas in different departments
  • TaskImplement selected cost-saving strategies in respective departments
  • Key ResultAchieve a 10% reduction in total operational costs without compromising output quality
  • TaskNegotiate lower prices with vendors
  • TaskImplement lean processes to reduce waste
  • TaskEvaluate and optimize energy usage for cost efficiency

OKRs to improve Compensation Plan

  • ObjectiveImprove Compensation Plan
  • Key ResultIncrease employee satisfaction by implementing pay raises based on performance evaluation
  • Key ResultImprove cost efficiency by optimizing the compensation plan to decrease overhead expenses
  • Key ResultEnhance equity by conducting a thorough analysis to identify any pay disparities among employees
  • TaskDevelop and implement strategies to address identified pay disparities and ensure equal compensation
  • TaskCollect and analyze salary data to identify any pay disparities among employees
  • TaskConduct interviews or surveys to gather feedback on employee perceptions of pay equity
  • TaskCompare compensation across different job roles to determine if there are significant gaps
  • Key ResultReduce turnover rate by revising the compensation structure to align with market standards
  • TaskDevelop a revised compensation plan that aligns with market standards and addresses employee needs
  • TaskReview and analyze the company's existing compensation structure
  • TaskConduct market research to determine current compensation standards for relevant positions
  • TaskCommunicate the revised compensation structure to employees and seek their feedback and suggestions

OKRs to reduce operational cost in the Network Operations Center

  • ObjectiveReduce operational cost in the Network Operations Center
  • Key ResultReduce unnecessary expenses by 15% through procurement optimization
  • TaskImplement a stringent approval process for all procurements
  • TaskConduct regular reviews of procurement practices
  • TaskEliminate redundant suppliers to consolidate spending
  • Key ResultImplement cost-effective automated systems to decrease manual labor costs by 20%
  • TaskImplement the chosen systems and monitor the cost-saving
  • TaskResearch and select cost-effective automation systems
  • TaskIdentify areas where automation can replace manual labor
  • Key ResultAchieve a 10% reduction in energy usage through efficient resource management
  • TaskImplement weekly power shutdowns in non-essential areas
  • TaskInstall energy-efficient lighting and appliances throughout the facility
  • TaskInsulate building envelope to optimize heating/cooling use

Best practices for managing your Cost Efficiency OKRs

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.

Tability Insights DashboardTability's audit dashboard will highlight opportunities to improve OKRs

Tip #2: Commit to the weekly 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.

Tability Insights DashboardTability's check-ins will save you hours and increase transparency

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.

Best way to track your Cost Efficiency 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

We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using a proper OKR-tracking tool for it.

A strategy map in TabilityTability's Strategy Map makes it easy to see all your org's OKRs

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 Cost Efficiency OKR templates

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

OKRs resources

Here are a list of resources to help you adopt the Objectives and Key Results framework.

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