Here’s how your business can get back on track
Tim Cooper is an award-winning freelance financial journalist with 20 years’ experience. He has written regularly for a wide range of publications. He has also written for many organisations from large blue chips to small sole traders.
No employer wants to miss the payroll run, which means they’ve not paid their staff on time. But it can happen for several reasons, including mistakes in the process and financial pressures.
In the past 12 months, the biggest cause of missed payroll has been cash flow stress caused by the coronavirus pandemic.
Many companies are still feeling this financial pressure, and the unwinding of government support structures such as the furlough scheme later in 2021 could trigger yet more payroll failures.