- Revamp contract management processes to help improve efficiency of the Sales team
- Automate the monthly contract renewal process by end of the quarter% 1000
- Reduce the contract sign-off and execution turnaround time from 45 days to 20 daysdays 2045
- Create a Contract Negotiations Guide and train the team with new guidelines by end of the monthtraining held 10
Legal OKR Examples
A legal team deals with compliance and regulatory requirements, risk assessments, and contract management, among other responsibilities. Assessing the performance of these tasks goes beyond measuring efficiency and it can get challenging to set and evaluate the goals of a legal team.
Adopting the Objectives and Key Results (OKR) framework makes it easier for legal professionals to create relevant goals and identify metrics that measure the value of activities delivered. It also helps differentiate between cost management and performance measurement parameters. Legal teams can use the OKR examples below to get inspired when creating their goals.
- Improve payment processes and provide better support to the Sales team
- Streamline the payment process to receive payments from 100% of existing customers in this quarter% 1000
- Train all new team members on SLAs, billing guidelines, and policies by the end of the monthtrainings 100
- Create and publish 15 legal definitions and 10 FAQs online to improve awareness and adoptionmaterials published 250
- Support and expedite expansion plans into new region in the quarter
- Ensure all documents are ready for registration of new business entity in the region documents 205
- Ascertain 100% compliance of financial, tax and employment law regulations% 1000
- Ensure compliance with regulations relating to corporate reporting and auditing based on governance requirements% 1000
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