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DO YOU PROVIDE INTERIM / AD-HOC PAYMENTS TO EMPLOYEES BETWEEN PAY DAYS?
This year’s results show more payroll departments are making payments between pay days . With the recent cost of living crisis and pay on demand / earned wage access (EWA) becoming more popular, it’s clear that payroll departments are amending process to support employee’s needs. Pay on demand / earned wage access has more than doubled from 3.32% to 7.66% this year.
33% No
14% Yes - via a supplementary run
6% Yes - other
54% Yes - via a manual process outside of payroll
8% Yes - via a pay on demand / earned wage access platform
VIEW YEAR-ON- YEAR DATA
Last year the result showed a decrease in compliance with only 57.92% indicating that they always use the contractual pay date on the full payment submission (FPS), even if paying early for a bank holiday or over Christmas. Concerned about the impact reporting the wrong date can have, especially those that claim universal credit, the CIPP has produced regular communications throughout the year to promote awareness and help improve accuracy. The results show a positive swing with respondents reporting the date the money is credited to the bank account dropping by 12.68% and the employees contractual pay date has increased by 10.70% . However, although this a great step in the right direction, it means that more than 30% of respondents are still non-compliant.
FPS SUBMISSION FOR EARLY PAY DAYS
69%
The employee's contractual pay date
14%
The date the employee recieves the money in their account
10%
The final day of the pay period
4%
Don't know
2%
Other
2%
Different dates dependant upon clients request
VIEW YEAR-ON- YEAR DATA
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