Employees are confident that their companies pay them the correct amounts, payroll group says.
By Garry Kranz Comments 0 | Recommend 0
Paychecks and Balances: Employees have reason to be skittish. Layoffs are on the
rise, and the U.S. economy is grinding to a halt. Jitters in the credit market
certainly don’t ease the malaise felt by most workers. At least there is some
comfort in knowing that when it comes to getting paid, employers for the most
part are getting things right. Nearly 90 percent of employees are confident
their paychecks are accurate every day, according to a survey by the American
Payroll Association. Only 9 percent of the 45,000 participants, or about 4,200
people, indicated they lack confidence that their paychecks are consistently
accurate. Changing accounting laws and use of manual procedures are to blame,
along with the trend to outsource parts of the payroll function. However, about
88 percent believe their employers do a good job of protecting personal
information from identity theft.
Workforce Management contributing editor Garry Kranz is based in Richmond, Virginia. E-mail editors@workforce.com to comment.
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