EY Survey: Cost Per Payroll Error Climbs to $339 Average for Companies
Paycom publicized a commissioned EY analysis finding payroll errors cost companies an average of $339 each, up nearly 20% from the 2022 study, with errors occurring in 1 of 5 payrolls. The survey of more than 500 U.S. payroll professionals estimates time, attendance and expense errors alone cost $289,722 per 1,000 employees annually, and the five most time-consuming error types consume nearly 29 workweeks per 1,000 employees per year.
Key figures
- Survey respondents
- more than 500
- Payroll error cost avg
- 339
- Five costliest errors total
- nearly 29 workweeks per 1,000 employees annually
- Error cost increase since 2022
- nearly 20%
- Beti error correction time reduction
- 85%
- Time attendance cost per 1000 employees
- $289,722
- Time punch error cost per 1000 employees
- $93,600
- Time attendance errors per 1000 employees
- 1139
AI analysis
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