47% of workers have had a late or incorrect wage on pay day, research suggests

28 Apr 2023

Research carried out by payment solution provider Caxton has suggested that 47% of UK workers have had a late or incorrect wage paid into their bank account on pay day.

33% of workers polled said that a late or incorrect wage would affect their ability to pay bills, and 32% stated that they wouldn't be able to pay their mortgage on time.

35% said that they feel more stressed and anxious as a result of being paid late or incorrectly, and 30% believe it would take a toll on their mental health. 23% said they wouldn't be able to afford food for themselves if they were paid incorrectly or late.

Rupert Lee-Browne, CEO of Caxton, said: 'These results demonstrate that for many employees across the country pay day is an outdated process for so many businesses. This is causing huge stress and anxiety to their most important assets, people.

'Whilst many other departments within business have seen huge digital and technology transformation, more recently heavily driven by the pandemic, the payroll function has often been left behind.'

What our clients say

Home | Contact us | Site map | Accessibility | Disclaimer | Help | © 2023 Reddy Siddiqui LLP. All rights reserved.

Reddy Siddiqui LLP, 183-189 The Vale, Acton, London W3 7RW

Reddy Siddiqui is the trading name of Reddy Siddiqui LLP, a limited liability partnership. This firm is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Registered office is 183-189 The Vale, London W3 7RW. Registered in England and Wales No. OC417809

We use cookies on this website, you can find more information about cookies here.