KPI Benchmarks : Payroll Processing Accuracy Rate
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KPI Details : Payroll Processing Accuracy Rate
Payroll Processing Accuracy Rate measures the efficiency with which a company’s payroll employees process payroll payments. A lower than average value for this metric may be attributed to several factors: highly manual (i.e., error and rework prone) payroll payment processing practices (e.g., manual data entry, etc.), inefficient payroll payment processing policies (poor payroll data governance, unstandardized payroll submissions, etc.) and sub-par employee training and performance. Each of these factors can lead to prolonged payroll processing cycle times which directly impacts employee dissatisfaction and turnover rates.
KPI Best Practices : Payroll Processing Accuracy Rate
KPI Calculation Instructions Payroll Processing Accuracy Rate?
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