Cycle time in business days to process time record data and enter into payroll system

This measure calculates the number of business days that elapse between receiving a time record from the employee and entering the data into the financial system that calculates employee wages based on factors such as taxes, vacation, salary, and withholding amounts. It is a Cycle Time measure that helps companies analyze the duration of the "report time" process from beginning to end.

Benchmark Data

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Measure Category:
Cycle Time
Measure Id:
100540
Total Sample Size:
1,274 All Companies
Performers:
25th
– Median
– 75th
–

Compute this Measure

Units for this measure are days. Lower values are better.

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Cycle time in business days from receiving the time record from the employee and entering the data into the payroll system

Key Terms

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Cycle Time

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.

Measure Scope

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Cross Industry (7.2.1)

  • 9.5.1.1 - Establish policies and procedures (10853) - Developing policies and procedures for the HR function to calculate compensation.
  • 9.5.1.2 - Collect and record employee time worked (10854) - Tracking billing hours of each employee on daily basis.
  • 9.5.1.3 - Analyze and report paid and unpaid leave (10855) - Tracking leaves allowed and taken by employees.
  • 9.5.1.4 - Monitor regular, overtime, and other hours (10856) - Observing the number of hours worked by an employees on daily basis. Track the number of hours worked by an employee, as well as the number of hours worked beyond normal working hour's according to company standards.
  • 9.5.1.5 - Analyze and report employee utilization (10857) - Monitoring the number of productive hours for employees.