A new survey has discovered that frustrating issues in payroll could be the quickest way to get one of the best employees of a company to turn in their resignation letter.
The Workforce Institute at Kronos Inc. found 49 percent of workers in America will start looking for employment elsewhere if there are at least two concerns and issues about their regular paycheck.
The study comes from the second portion of the “Engaging Employees Through Payroll” series that questioned more than 1,000 employees in the U.S. Its aim was to analyze how any mistakes in payroll could lead to more costs for a company. It also took a look at the importance level of how employees in the payroll department interact with workers.
While the first portion of the study showed that issues in payroll impacted 82 million workers, or 54 percent of the American workforce, the second portion revealed more data and details. Interestingly enough, this differs across generations. Baby Boomers were said to be the most patient with payroll mistakes and have a better understanding of how their paychecks are calculated. Forty-three percent of employees between the ages of 18-29 have had to make a late payment on a bill because of payroll issues. The same holds true for 52 percent of employees 30-39. But when it comes to Baby Boomers, that number is only 11 percent.
Aside from evidence that employees who experience at least two issues with their checks don’t wait long before seeking a new job, the study also proved that managers who invest in their employees have a major impact. Twenty-six percent said their supervisor is the first person they would go to for an issue.
The participants almost came to a consensus when asked about a raise. The survey showed that 84 percent of all employees look for a pay raise each year they are with the company.
