HR Payment Practices Dip Slightly: Average Score Drops 2.7 Points from 2021 to 2022

The Comparison

• 2021: A survey of 104 companies revealed an average score of 82.8 out of 100 for payment practices.
• 2022: The same survey, expanded to include 109 companies, showed a decreased average score of 80.1 out of 100.

What This Means

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.