Our news stories for November/December 2019, featuring financial education, retail payroll research, and The Rewards 2019.
The end of the year is an important moment for organisations and their employees. It’s a time to reflect on valuable lessons learned, milestones achieved, and what’s still left to accomplish. It’s also an opportunity to look ahead to both the challenges and opportunities that the new year may hold.
So, as the year came to a close, which issues were front of mind for Zellis?
Let’s take a look at Zellis in the news for November and December 2019
2020: the year of financial education?
The world of HR is undergoing constant change, and every new year brings opportunities for organisations to further improve the employee experience. There are many different opinions on what the defining issues for HR teams will be in 2020, but we believe one of them will be financial education.
Andy Haldane, Chief Economist at the Bank of England, has claimed that financial literacy rates in the UK are getting worse. When we surveyed 2,000 British employees, we discovered gaps in awareness that seem to support this:
Underpinning the research – which was covered by HR Magazine, HR Grapevine, Reward Strategy, and more – was the finding that less than half (44%) of UK employers offer financial education to help close these gaps in awareness. We believe that beyond processing the payroll, employers have the opportunity to play a valuable role in improving financial literacy. This in turn will help address the money concerns that affect huge numbers of people.in the UK, causing them stress and worry, as well as damaging their engagement and productivity at work.
Writing for CXM Magazine in collaboration with Gethin Nadin, Director, Employee Wellbeing at Benefex, our CEO, John Petter, outlined some practical ways employers can support financial literacy, including running educational programmes, strengthening communications around benefits, and offering mental health support.
Payroll challenges in the retail sector
Running a reliable and efficient payroll operation in the retail sector is no easy task. This is especially true during the peak months of November and December, when employers take on large numbers of seasonal workers who have varying shift patterns, a strong chance of working lots of extra hours and overtime, and are likely to be earning the national minimum wage.
The highly mobile and scattered nature of the retail workforce can make it difficult for payroll teams to receive all of the right information at the right time to ensure employees are paid accurately. In a follow-up to our earlier research on UK payroll experience, we looked specifically at the experience of 650 retail workers, finding that over half (61%) have experienced mistakes with their pay, while nearly a third (29%) have been paid late on at least one occasion.
We collaborated with the Chartered Institute of Payroll Professionals (CIPP) on a press release on our findings, featuring comments from Associate Director of Policy, Helen Hargreaves, and our CEO, John Petter. Check it out here.
With the high street already under pressure from rising costs and low consumer confidence, it’s imperative that retailers maintain strong workforce management processes, including running a resilient and flexible payroll system which is capable of fulfilling complex requirements. After all, the future of the high street depends in large part on motivated and engaged teams on the ground – and this means continuing to invest in creating an excellent employee experience.
Zellis wins at The Rewards 2019
What better way to end 2019 than with another accolade for our payroll and HR software, ResourceLink?
We were delighted to attend The Rewards 2019 in December, where we received the prestigious ‘Payroll and HR Software Product’ award. In the past year, we’ve taken huge strides to develop improvements and new capabilities within ResourceLink, with the goal of delivering a modern, digital and data-driven employee experience – all while keeping our customers compliant with the very latest legislative changes.
We’ve got a very exciting roadmap ahead for 2020 and beyond – you can read more about this, and learn what our Chief Product and Technology Officer, Marko Perisic, had to say about our award win, in this blog.
Or, if you’d like to learn more about our research and speak to one of our experts, please contact Matthew Robinson (firstname.lastname@example.org).
If you’d like to discover more about ResourceLink or how our people can help you transform your payroll and HR operations, we’d love to talk.Talk to us