We guarantee to fix any payroll discrepancy on the same day to ensure stress around payroll is a thing of the past, ensuring that our Nurses feel valued and appreciated for the service they provide.
Importance of Fixing Payroll Mistakes on the Same Day
Payroll mistakes are errors on any document or calculation relating to pay. These mistakes present a major challenge to businesses, as they can have along-lasting negative impact if not fixed on the same day.
Almost half of UK employees have received a late or incorrect wage, while payroll professionals spend a large part of their month correcting errors.
When Caxton did a survey, they asked about the physical or mental impact of not being paid on time or incorrectly, over 35% of people reported feeling more anxious or stressed. Alongside this, almost a third (30%) said their mental health has suffered.
In this article, we explore why this is so important, and the steps taken to ensure these mistakes are fixed quickly.
Introduction
Payroll mistakes can refer to any miscalculations, inaccuracies, or discrepancies related to employee pay or compensation. It can include anything from incorrect hours worked or wages paid, to failing to take into account employee benefits, deductions, or additions. All payroll mistakes should be addressed as soon as possible in order to ensure legal compliance, employee satisfaction, and financial stability.
Reasons why it is important to fix payroll mistakes on the same day
Businesses must be compliant with relevant laws and regulations when it comes to employee pay. In the UK, this includes the Minimum Wage Act 1998, which sets the legal minimum wage for all employees aged 16 and over, and the Employment Rights Act 1996, which sets the maximum amount of weekly working hours. There can be steep penalties for non-compliance with these laws, so it’s important to make sure all payroll data is accurate and all employee wages are paid in full-on time.
If payroll mistakes occur and remain unresolved, employees may become dissatisfied with their employer, and could even launch legal action against the company. Employees should feel that they are treated fairly and that their pay is secure. Unresolved issues regarding payments can have a major impact on morale and cause longstanding conflict between employers and employees. Not only this but the impact on the payroll team also needs to be considered.
In the survey conducted by Caxton, over three quarters (76%) of respondents responsible for payroll stated that they found the period around payroll each week was stressful.
A significant 41% of their time at work is spent rectifying payroll issues rather than doing their typical job. Over a quarter (27%) said that they regularly communicated with their manager about the negative impact this has on their workload.
Legacy payroll systems and outdated attitudes and approaches today were primarily blamed and BACS led the list of complaints with nearly threequarters (72%) of users claiming that the BACS system was not suitable for modern payroll.
This is predominantly linked to lengthy input times and inflexible pay structures, which in temporary and contract recruitment is paramount to successful payment runs. A third also stated that they had to process a follow-up payment run almost every time, something umbrella companies have become ever more used to doing, some even offering daily payroll runs.
At Express Nursing we have monthly payroll reviews with our chosen Umbrella companies to ensure communication around rates, deadlines and claimable expenses are transparent and effective to reduce the requirement for additional payroll runs, and to allow for the collaboration of us as the agency, the umbrella company as the payroll vehicle and you as the locum worker to have a harmonious and smooth experience, week after week.
Steps taken to ensure payroll mistakes are fixed on the someday
Businesses take a range of steps to prevent, detect, and fix payroll mistakes on the same day. One of the most effective measures is employee training. All payroll staff should be highly trained in the relevant laws and regulations, as well as the company’s own policies and procedures. Training should also be regularly updated in order to ensure all staff are kept informed of any changes.
The quality of payroll data should be regularly monitored and procedures should be put in place to identify any potential discrepancies. Automated systems can help with this task, by providing alerts when inconsistencies or irregularities occur. Having a second person review payroll data is a vital safeguard against errors and discrepancies.
We use a number of technologies here at Express Nursing to ensure regular and consistent communication is released weekly around payroll deadlines, especially given the additional May bank holidays we are enjoying, as well as a number of automated checks and workflows created within our CRM and payroll systems to ensure accurate data is recorded and passed to our nominated Umbrella companies.
Summary
On the rare occasion we may find a discrepancy has occurred, we guarantee to fix it on the same day to ensure stress around payroll is a thing of the past, ensuring that our Nurses feel valued and appreciated for the service they provide.
