‘Payroll Report Issued 18 April 2023’
Caxton has conducted two separate research studies, one surveying 2,020 consumers in part or full-time employment and another study directed at 260 finance professionals in payroll.
At a glance the studies suggest:
- Almost half of UK employees (40%) have received an incorrect wage.
- Payroll professionals declare almost half (41%) of their time at work is spent fixing payroll issues rather than doing their typical job.
- Over 1 in 5 (27%) payroll professionals regularly report the negative impact this has on their workload to manager.
- More than 1 in 10 employees have considered leaving or have left their job (13%) because of an incorrect or late salary payment.
- 65% of workers suffer serious anxiety or mental health issues due to payday errors or delays, with almost a quarter (23%) unable to pay for food grocery bills.
Caxton Payments is an alternative to traditional banks, established over 20 years, we help businesses make faster payments more reliably. We offer streamlined processes, automation through API and a collaborative solution to complex payment issues all from a single platform. Our payment capability extends from business expense management, to payroll payments, supplier payments, and currency risk management. We also offer personal prepaid travel cards and international money transfer.