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Reality Check: How Outdated Payroll Processes Harm Employees

See how payroll errors can impact millions of people and what your organization can do to protect employees.

Download our infographic to see how to prevent payroll errors in your organization

20% of traditional payrolls have errors, on average.

Many people live paycheck to paycheck, including 20% of U.S. households with annual incomes over $150,000.

Payroll errors erode trust with employers and fuel turnover.

Automated payroll identifies errors and guides employees to fix them before submission.

A nationwide Ernst & Young survey revealed that the average traditional payroll has a 20% error rate. Just one error can be devastating to an employee. In fact, 7 in 10 U.S. employees are stressed about their financial situation and only 11% could cover an unexpected expense of up to $1,000.

Even high earners live paycheck to paycheck

20% of households with incomes over $150,000 live paycheck to paycheck, according to Bank of America. That’s why it’s critical to ensure on-time payroll without delays and errors. Errors due to outdated payroll systems can make it impossible to pay bills, afford groceries or fund an emergency situation. Not only that, but payroll errors erode trust.

Employees will walk over payroll errors

A survey from The Harris Poll commissioned by Paycom revealed that over 50% of employees would look for a new job if they experienced any issue with their pay.

So how can you ensure accurate payroll, every time?

It’s easier than you think. Thousands of companies rely on automated payroll, which identifies errors and guides employees to fix their check before submission. With software that ensures accurate pay, you can:

improve morale and help prevent financial hardship
reduce time-consuming payroll errors and corrections
enhance the efficiency of your employees and HR team

To learn more, download the Reality Check: How Outdated Payroll Processes Harm Employees infographic.