Want to increase employee engagement? Get their paychecks right.
Engaged employees are critical to the success of your business. One of the most basic ways to support job satisfaction – and create engaged employees – is through smooth payroll operations that result in issuing accurate paychecks every time. But reliance on outdated payroll technology and manual processes can lead to payroll errors that frustrate employees. Did you know that:
- More than half of all workers (54%) have had a problem with a paycheck at some point in their careers.*
- Almost half of employees who experience just two payroll errors, such as being paid late or receiving the incorrect amount, would start looking for a new job.*
- Payroll errors can be costly for your company – on average, workers say they would have to be overpaid by $464 before they would report it to their employers.*
- Living paycheck to paycheck magnifies the impact of payroll errors. 37% of employees have paid a bill late because of a mistake with their paychecks.*
- Almost half of all workers (45%) say they would feel more engaged if their employers would help them understand their paychecks, including taxes and deductions.*
The costs of payroll errors go beyond money and time, to the potential loss of good employees. Manually handling time tracking, data entry, and other payroll tasks greatly increases the possibility that these engagement-ending errors can occur. The good news is that an automated workforce solution like Workforce Go! HCM can help you deliver accurate paychecks and clear payroll information to your employees.
Workforce Go! HCM is a comprehensive suite of workforce management tools that allow you to seamlessly and efficiently get payroll right every time. To find out more, call us today at 214-800-5575.
*Source: The Workforce Institute at Kronos, Engaging Employees Through Payroll survey (February 2017).