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Late payments putting UK employees in the red

Late wage payments are putting UK employees in the red

More than a fifth of British workers claim bosses have failed to pay their wages on time, causing them to suffer financial losses as a result, according to new research.

A study of 2,000 UK employees conducted by Cascade HR found that 22% have been paid late from their current employer at some point in their career. Of those affected, nearly half (49%) said this had happened more than once.

When wages arrived late, the employees claimed they experienced various financial issues, with some even struggling to buy food and every day essentials. Just under two thirds (61%) had been forced to borrow money from various sources, but 33% were unable to pay bills and direct debits. More than a quarter (27%) received late payment charges from their bank and 21% were unable to cover basic living costs such as food and travel expenses.

The research even found that late payments were having an effect on employees’ relationships outside of work, with 17% stating that financial issues led to strains on relationships between partners and family members.

When asked how they felt when they received their wages late, the majority of workers said they were annoyed or extremely annoyed (86%). 11% said they were not annoyed about being paid late and 3% didn’t feel affected either way by the issue.

Despite this, more than half of staff who had been paid late (68%) were happy overall with how their company had handled and rectified the situation afterwards.