Businesses in Ireland highlight salary processing as top priority

Salary processing

by HRHQ Editorial Team

In a recent study by SD Worx Ireland, a Bray-based European HR solutions provider, the speed and efficiency of salary processing in is the biggest challenge in payroll management. The extensive research was carried out among 5,118 HR leaders across Europe, including 150 in Ireland.

Speed and efficiency in payroll processing is the primary challenge for organisations in Ireland, with 51pc of HR leaders citing it, significantly surpassing the European average of 41pc. Additionally, the research suggests a potential issue with accuracy in salary payments, as 47pc of respondents identify processing accuracy as a top concern.

To handle salary payments, 39pc of businesses in Ireland work with a specialist payroll provider. The study found that most (86pc) organisations in Ireland combine outsourced functions with their own in-house expertise and software.

The research found that some 8pc of HR leaders surveyed acknowledge that they experience issues with the timeliness of their salary payments. The Europe-wide survey across 18 countries found that just three countries – Austria, Belgium and Denmark – show greater dissatisfaction for the punctuality of wages. Despite these challenges, most organisations in Ireland (83pc) are satisfied with the overall handling of their payroll processes – versus a 71pc average across Europe.

Eimear Byrne, Country Leader, SD Worx Ireland, said: “Payroll is getting more complex. In particular, legislation is continuously evolving, with new rules being added – sometimes retroactively – both at local and European level. It has become a much bigger job than it was previously, so it is important for everyone involved to stay alert and ensure they have seamless processes in place.

“We continue to live in a cost-of-living crisis. Many people don’t have the luxury of having savings that can cover rent, childcare and other expenses if their salary doesn’t arrive in time. A delay of just one day can cause undue and unnecessary stress.