6 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

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 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!

OKRs to improve payroll accuracy and efficiency

  • ObjectiveImprove payroll accuracy and efficiency
  • Key ResultIncrease payroll processing speed by 15% by streamlining manual processes
  • TaskIdentify redundant or outdated steps in the current payroll process
  • TaskImplement automated payroll software to eliminate manual entries
  • TaskTrain staff on efficient usage of automated payroll systems
  • Key ResultDecrease payroll errors by 20% through implementation of automated checks
  • TaskResearch and select appropriate payroll automation software
  • TaskTrain staff on new software operations
  • TaskImplement and integrate selected software into system
  • Key ResultReduce payroll processing time by 25% by training staff on best practices
  • TaskConduct periodic evaluations to monitor improvement
  • TaskProvide materials on efficient payroll processing techniques
  • TaskImplement regular training sessions on payroll best practices

OKRs to improve efficiency of payroll processing metrics

  • ObjectiveImprove efficiency of payroll processing metrics
  • Key ResultTrain team on new payroll metrics and processes
  • TaskMonitor and provide feedback on team's grasp of new processes
  • TaskSchedule regular training sessions for the team
  • TaskDevelop comprehensive training material on new payroll metrics
  • Key ResultImplement automated time tracking system
  • TaskResearch suitable automated time tracking software options
  • TaskTrain staff on using the new system
  • TaskPurchase and install selected time tracking system
  • Key ResultIncrease payroll accuracy rate to 98%
  • TaskImplement automated payroll software to reduce human error
  • TaskProvide payroll processing training for staff
  • TaskConduct regular payroll audits for discrepancies

OKRs to develop comprehensive RFP questions for payroll and HR solutions

  • ObjectiveDevelop comprehensive RFP questions for payroll and HR solutions
  • Key ResultFormulate 15 insightful RFP questions about necessary HR solution features by week 6
  • TaskIdentify key HR solution features needed in the company
  • TaskDraft 15 well-crafted RFP questions
  • TaskResearch exemplary RFP questions related to HR solutions
  • Key ResultReceive positive feedback on RFP questions from at least three industry experts by week 8
  • TaskDraft RFP questions by week 2
  • TaskSolicit and incorporate feedback by week 7
  • TaskIdentify and contact three industry experts by week 4
  • Key ResultCraft 20 detailed RFP questions that cover essential payroll functionalities by week 4
  • TaskReview pertinent payroll functionalities for comprehensive understanding
  • TaskDraft a list of 20 detailed questions
  • TaskReview and refine questions by week 4

OKRs to streamline and optimize the payroll process

  • ObjectiveStreamline and optimize the payroll process
  • Key ResultImplement automated payroll software by reducing manual entry by 50%
  • TaskTrain employees on utilization and benefits of the software
  • TaskSelect suitable automated payroll software for the company
  • TaskGradually transition from manual entry to automated system
  • Key ResultDecrease processing time by 20% through improved payroll system efficiency
  • TaskIdentify bottlenecks in the current payroll system
  • TaskTrain staff on efficient payroll system practices
  • TaskImplement automation for repetitive payroll tasks
  • Key ResultEnsure 100% accuracy in payroll calculations and payments each cycle
  • TaskImplement double-checking system for payroll calculations
  • TaskTrain staff on accurate payroll processing
  • TaskRegularly update and review payroll software

OKRs to optimize payroll process for efficiency

  • ObjectiveOptimize payroll process for efficiency
  • Key ResultReduce manual payroll processes by 40% to minimize human error
  • TaskImplement automated payroll software system in the company
  • TaskTrain HR employees on using the new software
  • TaskMonitor and adjust software for efficiency
  • Key ResultIncrease payroll automation by 50% for enhanced productivity
  • TaskEvaluate and adjust operations for continuous improvement
  • TaskTrain staff members on new automated payroll systems
  • TaskResearch and select advanced payroll automation software
  • Key ResultAchieve 30% reduction in payroll processing time by improving workflow
  • TaskImplementing automated payroll software or system
  • TaskIdentify and eliminate redundant payroll processing steps
  • TaskTrain staff on efficient payroll processing procedures

OKRs to improve payroll processing

  • ObjectiveImprove the accuracy and timeliness of payroll processing
  • Key ResultReduce the number of errors in payroll calculations by 10%
  • Key ResultIncrease employee satisfaction with the payroll process by 20%
  • Key ResultIncrease the number of employees paid on time by 15%

Best practices for managing your Payroll 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

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.

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

Tip #2: Commit to the weekly 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.

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 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.

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 Payroll 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.

Create more examples in our app

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