Reward Strategy. Incoporating Payroll World.
Hello there,

You are viewing this article as a guest, please login or register to read more. 

One in five employees quit due to payroll issues

More than 20 percent of British employees have changed jobs after being paid late or inaccurately by their employer, according to new research. 

TwitterLinkedInFacebook
60 percent of employees identify mistakes on their payslips
60 percent of employees identify mistakes on their payslips

The study of 2,000 employees commissioned by Zellis and conducted by an independent research firm found these statistics are equivalent, on a national scale, to nearly seven million employees.

 

It found 60 percent of employees identify mistakes on their payslips. Additionally, 39 percent of employees said they had been paid late on at least one occasion, after which:

 

• 48 percent said the employer didn’t care about their wellbeing;

• 47 percent said they felt undue levels of stress and worry;

• 40 percent felt at risk in their financial situation;

• 25 percent felt less engaged and productive at work.

 

The survey further highlighted the impact of late payment on financial wellbeing. More than a third said they had missed payments on direct debits and a similar number said they had gone into their overdraft. A quarter also said they had incurred bank charges and suffered damage to their credit rating.

 

Helen Hargreaves, associate director of policy at the Chartered Institute of Payroll Professionals (CIPP), said: “These results show that when payroll departments are unable to pay staff accurately and on time, the impact is not only felt on the wellbeing of employees, but on the business as a whole. However, the responsibility is shared between employers and employees. Employees play a significant role in providing the payroll department with accurate and timely information; without it, the payroll department can’t fulfil its core objectives.

 

“Receiving accurate and timely information is only half the story. Payroll processing is becoming increasingly complex, with additional duties introduced every year. Although purchasing good quality payroll software will shoulder some of the burden, it’s crucial that payroll practitioners keep themselves up to date with all the changes to legislation, ensuring they are best placed to meet their obligations.”

TwitterLinkedInFacebook
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

You might also like

34% of single parents: “better off on benefits”

34% of single parents: “better off on benefits”


Is in-house moving out?

Is in-house moving out?


NHS Foundation Trust invests in team "to promote payroll as a career"

NHS Foundation Trust invests in team "to promote payroll as a career"


Revealed: The Rewards 2019 shortlist

Revealed: The Rewards 2019 shortlist

LATEST PAYROLL AND REWARDS NEWS IN YOUR INBOX

Reward Strategy homepage
Reward Strategy RSS

Did you find our website useful?

Thank you for your input

Thank you for your feedback

reward-strategy.com - an online news and information service for the UK’s payroll, reward, pensions, benefits and HR sectors. reward-strategy.com is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Reward Strategy is committed to diversity in the workplace.
© Copyright Shard Financial Media Ltd