Late or Incorrect Payments
In a survey of European employees shockingly 44% claimed to have been paid late or the wrong amount. Of those paid incorrectly, the vast majority identified the issue themselves rather than having the anomaly detected by their employer. The effects of this are far reaching and the feeling towards employers is unsurprisingly, negative.
Reasons for Late Payment
When it came to late payment, cited reasons included poor management and instability. In addition, late payment to employers from third parties was also a popular reason – cash flow can be a real issue for companies with 54% of SMEs saying they experience problems in this area. Finally, system outages and errors were another given reason for improper payments.
On average, the delays span 1.5 – 2 weeks. These problems highlight the importance of HR departments who can reduce the likelihood of this happening and are better equipped to fix problems should they arise.
In a survey of European employees shockingly 44% claimed to have been paid late or the wrong amount.