According to new research out today from ROC Consulting, the global consultancy dedicated to digital Human Capital Management (HCM). Just over half (56 per cent) of UK private sector decision makers and little more than a third (39 per cent) of their public-sector equivalents believe their payroll can meet the challenges, despite 74 per cent agreeing that changing staffing models require new ways of paying workers.
With the ONS revealing that self-employment rose 22% from 2008 to 2015, and currently accounts for 15% of the UK workforce, the results suggest that traditional payroll systems are not being used effectively to help secure the best short-term talent.
Fifty six per cent of IT and Finance decision makers agree they need to find better ways to pay quickly, but cut offs and systems mean that 59 per cent are unable to pay a new starter until a new payroll cycle has started. When the majority (78 per cent) still pay monthly, and 60 per cent would not consider paying daily, new workers could wait for up to six weeks before receiving payment.
London-based businesses felt they were better prepared for the gig economy (65 per cent) versus the UK as a whole (50 per cent), and more likely to pay daily (64 per cent against 39 per cent).
