This measure calculates the number of business days that elapse between the HR/benefits system cut-off and the payroll transmit date. It is a Cycle Time measure that helps companies analyze the duration of the "process payroll" process, which consists of the payment of salaries and wages in accordance with organizational policies and government regulations, from beginning to end.
Cycle time in business days to process payroll from HR/benefits system cut-off to payroll transmit date
Cycle time is the total time from the beginning of the process to the end. This includes both time spent actually performing the process and time spent waiting to move forward.
The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.