Nearly a quarter of all UK workers have been paid late by an employer
Cascade HR, a subsidiary of IRIS, recently concluded research which found that 22% of all UK workers have at some point in their careers, been paid late by an employer.
The survey also found that as a result of this, employees experiences a range of financial complications, with some even stating that they struggled to buy food and everyday essentials, including travel costs to and from work. 61% explaining that they had been forced to borrow money from a friend or family member, and over a quarter had received late payment charges from their bank or building society.
When asked how they felt about the late payments, 86% replied ‘annoyed’ or ‘extremely annoyed’ and interestingly, 68% then reported that they were happy with how their employer handled and corrected the mistake.
Oliver Shaw, CEO of Cascade HR, said: “The issue of late payments can present some really serious difficulties for employees, who are often relying on the timely arrival of their wages so they can fund their living costs. It’s concerning to see that within some companies, late payments have happened on more than one occasion and workers are suffering as a result.
“Business owners have a responsibility to ensure they’re paying their staff members on time, on or before the date mentioned in the employee contract, so that workers aren’t suffering the costs. It’s extremely important that employers have a contingency plan in place, so that if this situation was to arise, it can be rectified quickly and consequences for workers are kept to a minimum.”
If you’re an employer who has had issues similar to this in the past, why not look at the IRIS Managed Payroll Service; the reliable and hassle-free option to outsource your payroll.
The IRIS Managed Payroll Service is fully BACS and RTI-accredited and enables you to pass the time and hassle needed to run payroll over to us, so that you can focus on other things for your business. We offer a flexible, tailored service – running a weekly or monthly payroll? Just need payslip printing or BACS processing? We can help! The service also handles changes in legislation such as auto enrolment and holiday pay, so you don’t need to worry about compliance.
If you’re thinking that outsourcing may the best option for your business, check out our user testimonials of businesses using the IRIS Managed Payroll Service, and also use our handy Payroll Outsourcing Calculator to receive a free, no-obligation quotation.
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