As many as 94 per cent of Canadians would seek new employment if they encounter regular pay delays and 91 per cent would look for a new job if their pay was regularly inaccurate, according to a conducted by Angus Reid for the National Payroll Institute.
The research warns that if employees find that their pay gets changed, disrupted or compromised on a regular basis, there will be more consequences for the organizations.
Of those surveyed, 64 per cent said they would trust their employer less, 59 percent would caution others about joining the company and 51 percent would have concerns about how much their employer values them.
The research found that 38 per cent of respondents who have experienced payroll mistakes or delays felt they were not able to manage expenses and the same percentage had the feeling that their employer unappreciated them.
Furthermore, 29 per cent felt a strain on workplace relationships, 27 per cent said they suffered negative mental health and 26 per cent said they observed a lack of productivity or disengagement at work.
"It's clear that payroll is at the core of business operations and is the foundation on which employee relationships, engagement and productivity are built," president of the National Payroll Institute Peter Tzanetakis said in a news release published last week. "In an environment where employers are jumping through incredible hoops to elevate their brand and show candidates they are a great place to work, it's a missed opportunity to not proudly talk about the effort that goes into an organization's payroll practices."
In order to conduct payroll professionally, the National Payroll Institute says it has complied what they call the 鈥渃ore principles鈥� which comprise the including accuracy, timeliness, transparency, security, equity, compliance, disclosure, professionalism.
鈥淭he Declaration for Payroll provides business leaders an opportunity to make a public commitment to uphold these principles, to the best of their abilities, and use this as a differentiator that appeals to the needs of current and future employees.鈥� the National Payroll Institute said in the release.
Methodology:
These are the findings of a survey conducted by National Payroll Institute from Feb. 23 to Feb. 27, 2023 among a sample of 1,550 online Canadians who are employed full or part-time and are members of the Angus Reid Forum. The survey was conducted in English and French. The results are considered accurate within +/- 2.5 percentage points, 19 times out of 20.
