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2 OKR examples for Operational Costs

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What are Operational Costs OKRs?

The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.

OKRs are quickly gaining popularity as a goal-setting framework. But, it's not always easy to know how to write your goals, especially if it's your first time using OKRs.

We've tailored a list of OKRs examples for Operational Costs 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.

The best tools for writing perfect Operational Costs OKRs

Here are 2 tools that can help you draft your OKRs in no time.

Tability AI: to generate OKRs based on a prompt

Tability AI allows you to describe your goals in a prompt, and generate a fully editable OKR template in seconds.

Watch the video below to see it in action 👇

Tability Feedback: to improve existing OKRs

You can use Tability's AI feedback to improve your OKRs if you already have existing goals.

AI feedback for OKRs in Tability

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.

Operational Costs OKRs examples

We've added many examples of Operational Costs Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.

Hope you'll find this helpful!

OKRs to achieve profitability by reducing operational costs by 20% in the current fiscal year

  • ObjectiveCut operational costs to achieve profitability
  • KRReduce employee overtime costs by 30%
  • KRImplement automation processes to reduce manual labor costs by 20%
  • KRDecrease inventory storage costs by 25%
  • KRLower utility expenses by 15% through energy-efficient measures

OKRs to implement automation to streamline existing processes

  • ObjectiveImplement automation to streamline existing processes
  • KRAchieve 20% reduction in operational costs via automated processes within the quarter
  • TaskImplement advanced automation software in key operational areas
  • TaskTrain staff to effectively use automation tools
  • TaskEvaluate and optimize current processes for potential automation
  • KRIdentify 3 processes that can be automated by end of first month
  • TaskPrioritize three processes for automation deployment
  • TaskSurvey current company operations for repetitive tasks
  • TaskEvaluate the potential for automation efficiency
  • KRTrain 80% of the team on utilizing the new automated processes efficiently
  • TaskIdentify team members unfamiliar with the new automated processes
  • TaskDevelop comprehensive training sessions on automation efficiency
  • TaskImplement and track progress of these training sessions

Operational Costs 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.

Save hours with automated OKR dashboards

AI feedback for OKRs in Tability

OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. Reviewing progress periodically has several advantages:

Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, you can move to Tability to save time with automated OKR dashboards, data connectors, and actionable insights.

How to get Tability dashboards:

That's it! Tability will instantly get access to 10+ dashboards to monitor progress, visualise trends, and identify risks early.

More Operational Costs OKR templates

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

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