Cost per Payroll Payment
This PDF report includes benchmarking data (in a visual, chart-based format), a comprehensive KPI definition, characteristics of high performers and technical details on measuring Cost per Payroll Payment. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.
What is Cost per Payroll Payment?
The total amount of expense incurred by the Payroll function divided by the number of payroll payments processed over the same period of time. Total Payroll function expense should include all labor, technology and other overhead costs related to running the Payroll function.
Why should Cost per Payroll Payment be measured?
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.
Download a Sample Cost per Payroll Payment
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