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Employers review payroll providers and job cuts as economic pressures bite

by Benefits Expert
26/03/2025
Payroll, pay, reward, HR, money, benefits, data
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Two-thirds (67 percent) of UK companies are considering cutting jobs as a result of economic uncertainty, according to research with 500 senior business decision-makers.

More than three quarters (76 percent) of respondents pointed to chancellor Rachel Reeves’ national insurance (NI) increases as the main reason for reducing headcount, followed by 65 percent that said high interest rates were a key reason to think about job cuts. 

The survey, conducted by Censuswide on behalf of financial specialist provider Payally, revealed further business concerns. More than half the respondents highlighted the high costs associated with payroll systems (54 percent) and six in ten (62 percent) flagged up issues with the overhead costs around payment transfers.  

More than half (52 percent) said they plan to review their payroll and payments provider in the next year. Meanwhile, a further 63 percent said they intended to expand overseas to increase revenue. And 56 percent of respondents said they would benefit from a single platform to manage their payment systems.  

Rafal Andzejevski, founder and CEO of Payally, said: “With businesses facing huge financial pressures and higher taxes, ambitious organisations are seeking new routes to drive revenue and weather the economic storm.

“For too long the high costs associated with international payment transfers and payroll systems have been a roadblock to business growth. Moving forward, organisations seeking faster, more effective operations should look to consolidate these core functions with one single platform and provider.” 

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The podcast from Benefits Expert, the title for HR, reward and benefits professionals.

Seasoned professionals examine the challenges and innovations in today’s employee benefits, reward and HR sector. Every episode, they will unbox a key issue and unpack what it really means for employers and how they can tackle it.

The regulars are Claire Churchard, editor of Benefits Expert; Carole Goldsmith, HR director at the Royal Horticultural Society, and Steve Herbert, consultant and rewards & benefits veteran.

The US DEI Rollback: What It Means for UK Employers
byBenefits Expert from Definite Article Media

The US retreat from diversity, equality and inclusion (DEI) is making waves far beyond the country's borders. In the wake of President Trump’s executive order abolishing DEI across federal government departments, global firms like Goldman Sachs and Accenture have rapidly dialled down their own efforts. 

The influence is being felt in the UK too. However, the UK operates under a different legal framework. It has stronger workplace protections and a government actively looking to enhance employee rights through its Make Work Pay agenda. But as US firms reposition their approach to DEI, UK subsidiaries could find themselves caught between conflicting priorities.

In the latest Benefits Unboxed podcast, co-hosts Claire Churchard, editor of Benefits Expert, Carole Goldsmith, HR director at the Royal Horticultural Society, and Steve Herbert, industry veteran and reward and benefits consultant, discuss how the US DEI rollback might impact UK businesses.

The US DEI Rollback: What It Means for UK Employers
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