10 OKR examples for Payroll
What are Payroll 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.
Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.
To aid you in setting your goals, we have compiled a collection of OKR examples customized for Payroll. Take a look at the templates below for inspiration and guidance.
If you want to learn more about the framework, you can read our OKR guide online.
Building your own Payroll OKRs with AI
How to create great OKRs for any scenario in seconds
While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here.
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.
How to improve existing OKRs with AI feedback
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's Strategy Map makes it easy to see all your org's OKRsTability 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.
Using the free OKR generator to get a quick template
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.
Our Payroll OKRs examples
You'll find below a list of Objectives and Key Results templates for Payroll. 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!
1. OKRs to increase accuracy and efficiency in processing payrolls
ObjectiveIncrease accuracy and efficiency in processing payrolls
KRReduce payroll errors by 30% through advanced tracking and verification processes
Conduct bi-weekly payroll verification audits- Standardize employee timesheet submission process
- Implement advanced payroll tracking software
- KRConduct training for payroll staff to improve knowledge of new processes by 20%
- Identify areas needing improvement in current payroll procedures
- Implement training and assess knowledge improvement
- Develop comprehensive training program for new processes
- KRImplement automatic payroll system to save 15% processing time
- Train staff members on the new system usage
- Research and select a suitable automatic payroll system
- Monitor and adjust the system for efficiency
2. OKRs to improve payroll accuracy and efficiency
- ObjectiveImprove payroll accuracy and efficiency
- KRIncrease payroll processing speed by 15% by streamlining manual processes
- Identify redundant or outdated steps in the current payroll process
- Implement automated payroll software to eliminate manual entries
- Train staff on efficient usage of automated payroll systems
- KRDecrease payroll errors by 20% through implementation of automated checks
- Research and select appropriate payroll automation software
- Train staff on new software operations
- Implement and integrate selected software into system
- KRReduce payroll processing time by 25% by training staff on best practices
- Conduct periodic evaluations to monitor improvement
- Provide materials on efficient payroll processing techniques
- Implement regular training sessions on payroll best practices
3. OKRs to improve efficiency of payroll processing metrics
- ObjectiveImprove efficiency of payroll processing metrics
- KRTrain team on new payroll metrics and processes
- Monitor and provide feedback on team's grasp of new processes
- Schedule regular training sessions for the team
- Develop comprehensive training material on new payroll metrics
- KRImplement automated time tracking system
- Research suitable automated time tracking software options
- Train staff on using the new system
- Purchase and install selected time tracking system
- KRIncrease payroll accuracy rate to 98%
- Implement automated payroll software to reduce human error
- Provide payroll processing training for staff
- Conduct regular payroll audits for discrepancies
4. OKRs to streamline and optimize the payroll process
- ObjectiveStreamline and optimize the payroll process
- KRIncrease payroll team's efficiency by providing training to enhance skills
- Schedule and implement chosen training programs
- Source relevant training programs for these skills
- Identify skill gaps within the payroll team
- KRReduce payroll processing time by 20%
- Implement a fully automated payroll system
- Outsource payroll processing to a trusted company
- Train staff on efficient payroll processing practices
- KRImplement a new payroll software to reduce errors by 15%
- Regularly monitor and evaluate software performance
- Research and select an efficient payroll software
- Train the HR team on the new software
5. OKRs to enhance compliance and precision in payroll management
- ObjectiveEnhance compliance and precision in payroll management
- KRPerform regular audits of payroll systems, ensuring 100% compliance with regulations
- Regularly review and update audit procedures
- Implement a compliance checklist for regulations
- Establish frequent payroll system audit schedule
- KRConduct bi-weekly staff training sessions, improving payroll comprehension by 80%
- Implement a feedback system to measure comprehension improvements
- Schedule bi-weekly staff training sessions on payroll system
- Develop clear, comprehensive payroll training materials
- KRImplement a digital payroll system, reducing manual errors by 60%
- Research top-rated digital payroll systems suitable for the company
- Monitor, evaluate, and report system's performance and error rates
- Initiate staff training for effective utilization of the new system
6. OKRs to develop comprehensive RFP questions for payroll and HR solutions
- ObjectiveDevelop comprehensive RFP questions for payroll and HR solutions
- KRFormulate 15 insightful RFP questions about necessary HR solution features by week 6
- Identify key HR solution features needed in the company
- Draft 15 well-crafted RFP questions
- Research exemplary RFP questions related to HR solutions
- KRReceive positive feedback on RFP questions from at least three industry experts by week 8
- Draft RFP questions by week 2
- Solicit and incorporate feedback by week 7
- Identify and contact three industry experts by week 4
- KRCraft 20 detailed RFP questions that cover essential payroll functionalities by week 4
- Review pertinent payroll functionalities for comprehensive understanding
- Draft a list of 20 detailed questions
- Review and refine questions by week 4
7. OKRs to streamline and optimize the payroll process
- ObjectiveStreamline and optimize the payroll process
- KRImplement automated payroll software by reducing manual entry by 50%
- Train employees on utilization and benefits of the software
- Select suitable automated payroll software for the company
- Gradually transition from manual entry to automated system
- KRDecrease processing time by 20% through improved payroll system efficiency
- Identify bottlenecks in the current payroll system
- Train staff on efficient payroll system practices
- Implement automation for repetitive payroll tasks
- KREnsure 100% accuracy in payroll calculations and payments each cycle
- Implement double-checking system for payroll calculations
- Train staff on accurate payroll processing
- Regularly update and review payroll software
8. OKRs to establish and optimize an efficient payroll plan
- ObjectiveEstablish and optimize an efficient payroll plan
- KRImplement payroll plan to 100% of employees ensuring 0 payment errors
- Implement payroll plan using a phased roll-out approach to all employees
- Train staff on new payroll plan implementation and error tracking
- Review current payroll system for potential errors and existing inefficiencies
- KRAchieve 100% satisfaction on payroll process from an employee survey
- Prioritize quick response to employee questions about payroll
- Train staff members on strengthened payroll policies
- Implement user-friendly payroll software for accurate calculations
- KRReduce payroll processing time by 25%
- Train staff on efficient payroll management techniques
- Streamline work process for immediate error correction
- Automate data entry with reliable payroll software
9. OKRs to streamline human resources tasks including payroll and work permits
- ObjectiveStreamline human resources tasks including payroll and work permits
- KRDigitize 90% of human resources documents using automation software
- Convert 90% of HR documents using automation software
- Train HR staff to use digitization automation software
- Select appropriate software for automating document digitization
- KRAchieve a 100% success rate in obtaining work permits for necessary employees
- Prepare accurate and complete application packages
- Track permit application progress timely
- Ensure eligibility requirements are met by all employees
- KRCut payroll process time by 30% with new software integration
- Train staff on new software utilization
- Implement and monitor software efficiency regularly
- Identify and procure suitable payroll processing software
10. OKRs to optimize payroll process for efficiency
- ObjectiveOptimize payroll process for efficiency
- KRReduce manual payroll processes by 40% to minimize human error
- Implement automated payroll software system in the company
- Train HR employees on using the new software
- Monitor and adjust software for efficiency
- KRIncrease payroll automation by 50% for enhanced productivity
- Evaluate and adjust operations for continuous improvement
- Train staff members on new automated payroll systems
- Research and select advanced payroll automation software
- KRAchieve 30% reduction in payroll processing time by improving workflow
- Implementing automated payroll software or system
- Identify and eliminate redundant payroll processing steps
- Train staff on efficient payroll processing procedures
Payroll 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 Payroll OKRs
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:
- 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
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.
Tability's Strategy Map makes it easy to see all your org's OKRsIf 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 Payroll OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to improve effectiveness of vendor management as a recruiter
- OKRs to ensure financial efficiency at Wonderfly Arena
- OKRs to enhance support provided by change managers across all initiatives
- OKRs to enhance leadership skills in the finance department
- OKRs to enhance management of service and admin account life cycles
- OKRs to enhance understanding of competitors' keyword gaps and ranking