The HR sector’s average PaymentCheck score is significantly higher than the UK average, suggesting a commitment to prompt payment within the industry – at least on paper. However, the disparity between the top and bottom payers is frankly alarming, with some firms lagging far behind. The small sample size for regional data means it's indicative, not definitive.
The South West emerges as the strongest-performing region with an average of 93.6, although this is based on only six companies, making it hard to generalise. The North East, while respectable at 86.4, is based on a mere two companies, limiting the insight.
Late payments can impact cash flow; use this late payment calculator to see potential costs.
Despite an impressive sector average of 80.4, the 87.9 point difference between the best and worst performers underscores the urgent need for improved payment practices across the board.
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