Alight study reveals half of companies committed payroll errors during the last five years
19 Fevereiro 2024 - 10:30AM
Business Wire
Outdated payroll practices are penalizing organizations and
emphasize the urgent need to make transformative changes in payroll
management
Alight, Inc. (NYSE: ALIT), a leading cloud-based human capital
technology and services provider, today released the findings of
its 2024 Company Payroll Complexity Report, which revealed that
over half (53%) of surveyed companies have incurred payroll
penalties in the last five years for non-compliance.
Building on the data from the 2023 Alight Global Payroll
Complexity Index, this new report surveyed nearly 300 payroll
professionals and stakeholders to understand key aspects of payroll
operations, including the number of countries that each company
processes payroll in, as well as the types of processes and
technology they used to execute payroll.
In addition to penalties, the report found 51% of those surveyed
still use spreadsheets, and 19% use outdated manual or paper
processes within their payroll departments.
The survey also reveals that many companies are shifting towards
more streamlined processes and migrating more of their payroll
operations to the cloud. Currently, only 26% reported employing
fully cloud-based strategies. Despite significant media attention
around AI and a continued industry trend to migrate to digital
solutions, only 8% of respondents expressed intentions to
incorporate artificial intelligence (AI) to their payroll processes
within the next two years.
Organizations surveyed also placed integrating payroll and
benefits into a unified platform as their number one priority,
followed by employee data analysis and implementing automatic
reporting mechanisms.
As well, payroll challenges are magnified for companies
operating in the top 10 most complex payroll processing countries
where there is an increased likelihood of receiving a penalty for
payroll non-compliance. The report underscores a direct correlation
between the number of countries an organization operates in and the
likelihood of receiving fines. Notably, 24% of organizations
operating in a single country received fines. However, this
percentage sharply rises to 67% for organizations expanding their
operations into two-to-five countries, marking the highest
prevalence of fines within this range.
“Payroll is an integral part of any business and can damage an
organization’s reputation if something goes wrong,” said Luca
Saracino, executive vice president of payroll and professional
services at Alight. “These mistakes can be mitigated with a
well-integrated, single platform that combines all-important HR
functions such as payroll and benefits into a one-stop shop.
Streamlining such processes not only saves time and minimizes risks
of human errors, but also goes a long way in safeguarding both the
company and promoting employee wellbeing.”
To learn more about Alight’s Company Payroll Complexity Report,
download the 2024 report here.
Research methodology
The 2024 Company Payroll Complexity Report is the result of a
survey completed by nearly 300 payroll professionals between July
and September 2023. The survey targeted payroll professionals as
well as key stakeholders with a vested interest in payroll
operations in their respective companies including the number of
countries companies processed payroll in, to the number of fines
and penalties received for non-compliance.
This report builds on and uses the data from the 2023 Global
Payroll Complexity Index to create a holistic picture of the
current payroll technology landscape, including what options
companies have in terms of technology, functionality and processes
to optimize their payroll operations.
About Alight Solutions
Alight is a leading cloud-based human capital technology and
services provider that powers confident health, wealth and
wellbeing decisions for 36 million people and dependents. Our
Alight Worklife® platform combines data and analytics with a
simple, seamless user experience. Supported by our global delivery
capabilities, Alight Worklife is transforming the employee
experience for people around the world. With personalized,
data-driven health, wealth, pay and wellbeing insights, Alight
brings people the security of better outcomes and peace of mind
throughout life’s big moments and most important decisions. Learn
how Alight unlocks growth for organizations of all sizes at
alight.com.
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Mariana Fischbach mariana.fischbach@alight.com
Alight (NYSE:ALIT)
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