Payroll mistakes are not only embarrassing for bosses, they can also be demoralising for staff and cost a lot of money. Only last year payroll mistakes cost businesses £700 million which says something about how common mistakes are.
So in no particular order here are some of the most common payroll mistakes made by businesses in the UK:
Not transferring money on time
Have you ever heard of an accounts department that pay money into employees’ bank accounts on time? This is a fairly common mistake to make and will immediately leave staff feeling discontent and annoyed that they worked for an entire month and the company didn’t have sufficient urgency to make sure they got paid.
Missing HMRC deadlines
This is probably the most common error made and it is usually down to not marking important dates in the calendar which opens up the potential for errors to occur.
Gone are the days when payroll was handled with manually. Everything is now input into high tech systems that make everything so much easier. Unfortunately, this can make people a little lazier and they will often get to the stage where they rely too much on these systems. No system is perfect no matter how good it is and we still rely on human input to make computer programs work.