Percentage of employees receiving payroll disbursements via direct deposit

This measure calculates the percentage of employees receiving payroll disbursements via direct deposit, in which an employee's regular wages are electronically deposited directly into the employee's personal account. A payroll disbursement is a transfer of funds from the payroll department to an employee, including all payment methods (e.g., paychecks, direct deposits, manual checks, etc.) and types. This measure is part of a set of Process Efficiency measures that help companies optimize their "manage pay" process by minimizing waste and refining resource consumption.

Benchmark Data

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Measure Category:
Process Efficiency
Measure ID:
101958
Total Sample Size:
1,366 All Companies
Performers:
25th Median 75th
- 95.0% -
Key Performance Indicator:
Yes
Sample image showing interactive filters for more detailed measure peer group data and an interactive graph.

Compute this Measure

Units for this measure are percent.

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Percentage of employees receiving payroll disbursements via direct deposit

Key Terms

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Process efficiency represents how well a process converts its inputs into outputs. A process that converts 100% of the inputs into outputs without waste is more efficient than one that converts a similar amount of inputs into fewer outputs.

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.

Full-time Employee

For the purpose of this survey, a regular full-time employee is hired for an indefinite period of time and is normally scheduled to work forty hours per week. Appointment is continuous, subject to satisfactory performance and availability of funding.

Part-time Employee

For the purpose of this survey, a regular part-time employee is hired for an indefinite period of time and is scheduled to work less than forty hours per week.

Temporary Employee

A temporary employee is employed for a finite period of time, to fulfill a time-limited role, or to fill the role of a permanent employee who is absent from work. The length of time an employee can work for the organization and be considered a temporary employee may be governed by employment legislation.

Measure Scope

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Cross Industry (8.0)

  • 9.5.2.1 - Enter employee time worked into payroll system (10858) - Tracking the number of hours worked for the payroll system. Register the number of hours worked by an employee into the payroll system for the purpose of calculating salaries or wages.
  • 9.5.2.2 - Maintain and administer employee earnings information (10859) - Tracking and oversee salary breakups of employees. This process requires the organization to manage and update information pertaining to the structure of every employee's salary. This would involve the updating any changes to the salary structures of the employees, in a central repository which can be accessed by pertinent departments.
  • 9.5.2.3 - Maintain and administer applicable deductions (10860) - Processing salary deductions for tax purposes. Keep and manage the details of every employee's salary deductions based on their expenses and investments during the year.
  • 9.5.2.4 - Monitor changes in tax status of employees (10861) - Tracking changes in the salary structure of employees for tax deductions.
  • 9.5.2.5 - Process and distribute payments (10862) - Processing and distributing salaries to all employees. Execute the payroll management function through the dispensation of employee salaries. Leverage a centralized database of all payroll expenses.
  • 9.5.2.6 - Process and distribute manual checks (10863) - Handling incorrect/omitted salary payments.
  • 9.5.2.7 - Process period-end adjustments (10864) - Adjusting salary deductions for tax purposes at the end of the year.
  • 9.5.2.8 - Respond to employee payroll inquiries (10865) - Addressing salary-related queries raised by employees.