Traditionally, payroll have been characterized as being a difficult document for workers to decipher, in fact, nearly one in four employees (24%) claims not to understand it, but have companies evolved in this aspect? PayFit and YouGov They teamed up to carry out a study which sheds light on the document that employees receive each month.
HR managers from different companies participated in the survey and 74% of them agree that their company’s payroll management is in line with the requirements of today’s world. However, in a previous study carried out on workers, 83% of those questioned assured that, for them, payroll is a difficult document to understand. This is why PayFit’s human resources experts recommend that companies implement a payroll digitization process that ensures greater clarity for employees.
Scanning The question remains unanswered since 59% of companies still cling to traditional methods of payroll management. But how could this digitalization come to fruition? The French company recommends using a software payroll management which gives autonomy to the process, this is the aspect most appreciated by 74% of the HR directors surveyed. Although many companies have not yet digitized their payroll, the truth is that this technological process is gaining more and more followers, realizing that 53% of companies recognize their intention to implement it. And, according to the study, HR directors in Spain appreciate, in addition to autonomy in payroll management, the flexibility of the system in 71% of cases as well as immediate access to data, according to 72% of those surveyed.
Payroll, “a complex document”
While for the role of the HR team to be more effective, it is recommended to carry out a scanning task; to solve the problem of 83% of those surveyed who see payroll as “a complex document”PayFit offers a new, more visual writing model with more specificity towards the data that interests the worker. With this operating system, the HR team will be able to devote their time to implementing stronger strategies that promote talent retention and the selection of qualified personnel.
For this reason, PayFit offers a new simplified payrollfar from outdated formats and with a structure that clarifies concepts, making them more accessible and easy to understand for all collaborators. We would thus find the net salary specified more clearly, since 69% of those questioned assure that it is the first thing they look at when receiving their pay. The transition to digital solutions not only promises to improve efficiency and data security, but also provides greater transparency and accessibility to employees and managers.
PayFit and YouGov also wanted to know what respondents thought about transparency in their businesses. In this area, Spanish companies are doing very well and, although there is still a long way to go, Spain is at the top of the ranking. salary transparency legislationwith 71% of Spanish companies adopting policies to improve in this regard. However, companies face certain challenges when implementing pay transparency policies. This would include, for example, the need to communicate these policies to employees in a clear and effective manner, in addition to protecting the confidentiality of employee data, maintaining the security of personal and salary information remains one of the main challenges facing businesses are facing.
However, the study also found that Spain is also making progress in terms of conciliation. In our country, companies have followed the current trends in labor management by offering various benefits to their employees. We’re talking about flexibility, such as teleworking and flexible hours, which come first with 40%, followed by professional development opportunities with 35%. This data not only demonstrates an adaptation to current demands of the labor market, but also reflects a commitment by companies to support their employees in a dynamic and constantly evolving work environment.
