KPI Benchmarks : Cost per Payroll Payment
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KPI Details : Cost per Payroll Payment
Cost per Payroll Payment measures how much, on average, the Payroll function spends to process a single payroll payment. A high unit cost for processing a single payroll payment may be related to several inefficiencies within the Payroll function, including highly manual payroll payment procedures (e.g., large amount of payroll payments performed by manually entering data into the company’s systems, etc.), low employee productivity, and/or poor training and employee oversight within the Payroll function. Each of these factors can increase employee dissatisfaction and turnover rates. Formal analysis of Payroll Department processes typically reveals opportunities for improvements to payroll payment data quality and submission standards, which can also greatly reduce the cost to process a single payroll payment.
KPI Best Practices : Cost per Payroll Payment
KPI Calculation Instructions Cost per Payroll Payment?
KPI Formula :
Payroll Staffing Ratio
The number of company-wide employees divided by the total number of Payroll employees working for the company at the same point in time, expressed as a ratio (e.g., total employees per payro...
KPI Type : Organizational
Formula : Total Number of Employees / Number of Payroll Department Employees
KPI Benchmark Range : 192 - 1,667