HR Payment Practices See Marginal Improvement: 2024 Scores Edge Up By 0.4 Points

The Comparison

• 2023: A benchmark study encompassing 108 companies reveals an average score of 80.0 out of 100 for HR payment practices. This figure represents the aggregate performance across various metrics related to payment efficiency and timeliness.

• 2024: Repeating the study with the same cohort of 108 companies shows a slight increase, with the average score reaching 80.4 out of 100. This small uptick suggests a modest overall improvement in payment practices year-over-year.

What This Means

While the change from 80.0 to 80.4 indicates a positive direction, the magnitude of the improvement is relatively small. This suggests that fundamental payment processes within HR departments have remained largely consistent across both years, and that improvements are likely incremental refinements rather than wholesale changes. Companies can use a late payment calculator to further analyse the impact of payment delays.

One-line summary: HR payment practices in 2024, measured across 108 companies, improved marginally, increasing from an average score of 80.0 to 80.4.