More than half of Americans have suffered paycheck problems

More than half of Americans have suffered paycheck problemsMore than half of Americans have suffered paycheck problemsIf youve ever been paid late, underpaid, overpaid or had trouble understanding your paycheck and taxes,youre not alone.82 million Americans- more than half of the U.S. workforce- have experienced a problem with their paycheck during their career, according to asurvey released today by The Workforce Institute at Kronos Incorporated.Just as surprising not understanding all the line items on a paycheck made workers less motivated in their jobs day to day. Not understanding the impact of taxes and deductions on how much workers earn has an impact on their engagement at work, the report found, based on data from the U.S. Bureau of Labor Statistics report from January 2017.Paying people accurately can be very complicated to do but its so important because of impact that it has on people, saysJoyce Maroney, director of The Workforce Institute at Kronos.Paycheck problems mak e you less productivePayroll problems have taken many forms.The survey found that 26% of hourly workers have been paid too little, 15% reported having been paid late, and 6% said they have been overpaid.Having extra money gives you more flexibility, but thats not the case for everyone.The survey found that 58% of workers and their families live paycheck to paycheck, which is why the finding that 37% of American employees have reportedly had to make a late payment on a bill such as their car loan, credit card, mortgage, or apartment/home rent because of payroll problems is so concerning.Maroney told Laddershow some payment issuesarise humans.A paper and pencil process is more prone to human error than one thats automated, Maroney said - which you would expect her to, considering thats exactly what her company does Payroll professionals are serious about doing a good job- their job is easier when they have great technology to help them, she said.Human error is just part of the probl em.Any manager, wherever theyre working in the world, needs to understand the relevant labor laws that apply to their situation and its also important for employees to understand what those rules are, Maroney said.Want to be happier? Understand your paycheckYou dont know what you dont know, but that could be taking a toll on you at work.The survey found that 42% of all workers say taxes and deductions on their paycheck are confusing to read and understand and that 45% of American employees say they would feel more engaged with their job if their employer helped them better understand the impact of taxes and deductions on their overall earnings.The surveyalso found that 15% of participants reported that they do not understand their tax forms enough to even recognize an error.Maroney gaveLaddersadvice on what companies can do.A lot of people are perplexed by deductions on their checks, and its worth the employer making the effort to educate employees on how to read payroll statement s o they get how much is coming out of their check and for what purposes, Maroney said.But not understanding financesisnt a new phenomenon foradults in the U.S.A 2015 NerdWallet survey of 1,015 adults in the U.S. found that the average U.S. adult scores about 50% on personal finance questions related to U.S. federal income tax returns. The 10-question quiz featured topics like retirement, healthcare and putting money away for college.Unfortunately, not liking your job is also bad for business.Gallups 2017 State of the American Workplace report found that actively disengaged workersare more likely to steal from their company, negatively influence their coworkers, miss workdays and drive customers away. Gallup estimates that actively disengaged employees cost the U.S. $483 1000000000000 to $605 billion each year in lost productivity.Understanding your whats taken out of your paycheck and how to complete tax forms could make you feel more connected to your job. And tax season is upon us, so make this the year you really delve into understanding your taxes before April 18.