According to a nationwide Ernst & Young (EY) study, 20% of payrolls have errors. And research from Morning Consult revealed 86% of Americans would financially struggle from just one missing or delayed paycheck.
Even when it’s straightforward to fix a payroll error, it still unnecessarily wastes time for HR professionals. Instead of focusing on compliance or the employee experience, an HR employee could lose up to 29 workweeks a year overcoming just the most common payroll challenges.
It’s time to end the consequences of outdated payroll. Beti® is Paycom’s employee-guided payroll experience. It automatically leads workers to find mistakes before payroll runs. Employees don’t just have to hope their pay is right — they verify it themselves!
Which payroll errors waste most of HR’s time?
While every company could have a unique issue requiring an extensive fix, EY found the most time-consuming errors often involve time punches and expenses.
A full-time payroll employee could expect to sink 55 business days — or 11 workweeks — into correcting time punches alone. Issues with expenses aren’t far behind; addressing them can consume over 32 business days. Plus, HR loses over 56 more business days fixing:
- uniform charge errors
- health savings plans
- sick time
What are the other tough challenges in payroll processing?
Beyond the risk of rampant mistakes, an outdated payroll process forces HR to deal with:
- poor data input
- inaccurate reporting
- late submissions
Without a payroll automation process, HR may juggle a shared mailbox, call center or more to handle employees’ questions. With Beti, however, employees get full insight into their pay in advance, so they can plan accordingly.
How does Beti help reduce HR pros’ stress and boost compliance?
Every payroll error has the potential to leave an employer liable. In fact, 85% of HR professionals said they’ve experienced higher stress because of mistakes.*
Beti reduces this risk by guiding employees to fix mistakes before they disrupt their pay and fuel HR burnout.
*Survey of 300 U.S. HR, payroll and accounting professionals who regularly work in the payroll process conducted by OnePoll on behalf of Paycom in October 2021.