‘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 RELEASE
Coverage:
Caxton Payments
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.
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