Paychex Small Business Snapshot: American Workers Say the Best Part of Pay Day is the Ability to Pay Bills
Paychex, Inc., a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses, today released the results of its latest Paychex Small Business Snapshot in honor of National Payroll Week.
According to the company’s latest snapshot, 52% of employees polled say their favorite thing about pay day is that it gives them the ability to pay bills. Twenty-seven percent of respondents claimed seeing the dollar amount in their account(s) go up as being the best part of pay day.
“National Payroll Week is a great opportunity to publicly recognize and thank hard-working, experienced payroll professionals,” said Martin Mucci, Paychex president and CEO. “Today, businesses struggle with the growing complexity of payroll, including new proposed overtime rules, expanded benefits requirements, and minimum wage changes. Regulations such as these make the role of Paychex even more important to helping businesses succeed and grow.”
The survey also revealed that 68% of employees report looking at their pay stub on pay day. Only 3% said they don’t look at their pay stub. In addition, the survey revealed the majority of employees are aware of the most common payroll deductions – Social Security, Medicare, federal tax, and state tax (if applicable) – being taken out of their paycheck.
The American Payroll Association’s National Payroll Week is celebrated annually. This year’s recognition, of which Paychex is a platinum-level sponsor, runs through Friday, September 11.
About the Paychex Small Business Snapshot The data included in the Paychex Small Business Snapshot was taken from the results of the Paychex Small Business Survey, administered by Survey Monkey. The survey was conducted online between August 20, 2015 and August 27, 2015. The survey yielded 1,274 responses from both business owners and their employees.