This post was originally published on The FinTech Times
The first full week of September will begin on Monday the 2nd and marks the start of National Payroll Week. In the lead-up to this, MHR, the HR, payroll and finance software provider has revealed insights on the sentiment of UK payroll workers.
The 2024 MHR payroll report highlights that over half (56 per cent) of all payroll workers believe greater investment is required in the sector. In fact, 47 per cent see untapped potential within the payroll function in their organisation.
There seems to be a growing level of discontent within the industry as 40 per cent of payroll workers are unsure if they will still be in the function within the next five years. Reasons for this include:
high levels of stress (34 per cent)job security (31 per cent)lack of investment in individuals (22 per cent)
Crucially, this year’s report from MHR highlights payroll professionals do not feel equipped to embrace the future of the industry. Fifty-seven per cent believe they need to learn new skills to take advantage of the innovation happening within the industry. In fact, only four in 10 are comfortable with the pace of change. Low skills and confidence are ultimately thwarting morale, with just 45 per cent
— Read the rest of this post, which was originally published on The FinTech Times.
