Guest: Steve Boese, H3 HR Advisors
In a new nationwide study, Ernst & Young (EY) revealed the high cost of common payroll errors under the traditional system. On average, fixing a single payroll mistake costs a company $291.
The cost isn’t simply financial. Organizations also pay in time spent fixing these errors and managing the fallout they create. EY found, on average, a full-time payroll employee spends nearly 29 workweeks on corrections.
In this episode of HR Break Room®, H3 HR Advisors co-founder Steve Boese joins host Morgan Beard to dig in to the EY study and break it all down. Listen as they:
· react to the study’s key findings
· discuss how payroll errors harm the employee experience
· examine the impact of payday accuracy on HR productivity
· offer strategies for avoiding payroll errors