Manage pay, report time, and process payroll taxes
Payroll is one of the most frequently outsourced HR functions within an organization. Because of this, it’s imperative that organizations understand how current payroll activities, whether or not such activities are performed in-house or by an outside provider, compare with those at best-in-class operations.
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The ongoing threat of outsourcing or of switching service providers puts a great deal of pressure on payroll operations to be efficient, sometimes to the detriment of customer service. This assessment can help identify key measures and reveal core standards of superior performance that payroll managers need to track efficiency and employee satisfaction.
APQC’s payroll assessment provides benchmarks and metrics that can unearth new opportunities of high relevance to directors and managers of payroll, compensation, and benefits. For example, using an integrated system, compared with a manual system, to process payroll yields significantly lower costs and higher productivity.
This assessment will help your organization better manage and execute the following processes.
- Number of full-time payroll employees per 1,000 employees paid
- Payroll system costs as a percentage of total payroll cost
- Percentage of employees receiving payroll and disbursements via direct deposit
- Percentage of payroll disbursements that are checks
- Percentage of payroll disbursements that include retroactive pay adjustments
- Percentage of time records processed error free the first time
- Personnel cost of the payroll process as a percentage of total payroll cost
- Time record processing cost
- Cost of payroll processes per employee paid
- Cost per payroll payment
- Cycle time in days from the payroll system cutoff date until payments are made
- Cycle time in days to process time record data and enter into the payroll system
- Cycle time in days to reflect a new employee in the payroll system
- Cycle time in days to remove a terminated employee from the payroll system
- Cycle time in days to resolve a payroll error
Why Trust APQC?
Founded in 1977, APQC is a member-based nonprofit organization. With over 500 members, APQC serves as a steward for broader open standards benchmarking, providing global, consistent process measurement.
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