While the number of surveyed companies increased slightly, the 2.7-point decrease in average payment practice scores suggests a marginal weakening in financial processes within HR departments. This decline, although not drastic, signals a potential need for closer scrutiny of payment protocols among participating organizations. Further data collection is needed to reveal if this is a trend or an annual anomaly.
Summary: HR payment practices saw a minor reduction, from an average score of 82.8 in 2021 to 80.1 in 2022, as measured by the study. Use this late payment calculator to determine late payment charges.