In terms of shorter timeframes, our survey explored whether these had resulted in any issues for the payroll team. As many as one in two ( 51% ) revealed it had increased stress levels on the team, while nearly the same percentage ( 49% ) said it had increased workload for team, resulting in overtime. Additionally, more than a quarter ( 27% ) said the changes have prompted more employee queries, 18% admitted there have been errors with pay and 13% revealed there had been errors with reporting.
HAVE THESE SHORTER TIMEFRAMES RESULTED IN ANY ISSUES FOR THE PAYROLL TEAM?
49%
Yes – increased workload for team / overtime
18%
Overall, fewer than three in ten ( 29% ) stated the shorter timeframes hadn’t created any issues for the team.
Yes – there have been errors with pay
These findings indicate that a growing pressure to work to tighter timeframes can have dire consequences for organisations. Employers / agents must weigh up whether the time constraints imposed are severely impacting wellbeing, which as a result risks errors and non-compliance. Of those surveyed, around three-quarters ( 74% ) said they envisage more change in shorter timeframes going forward, with the remaining quarter ( 26% ) saying they don’t. The fact that most respondents anticipate further change in short timeframes in the future, fuelled by a new government, suggests there could be greater ramifications on the horizon, potentially leading to payroll professionals feeling the strain even more and consequently making more errors.
13%
Yes – there have been errors with reporting
51%
Yes - increased stress levels on the team
27%
Yes - changes have prompted more employee queries
29%
No
AROUND THREE-QUARTERS (74%) ENVISAGE MORE CHANGE IN SHORTER TIMEFRAMES GOING FORWARD
In most cases percentages have been rounded to two decimal places for clarity and may not add up to 100%. Graphics may have been rounded to whole percentages.
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FUTURE OF PAYROLL REPORT 2024
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