Digital tool will help increase financial education and empowerment among UK employees
UK, 01 July 2022: Global information services company, Experian, has announced it is expanding its employer services suite in a move that aims to encourage more organisations to share employee payslips digitally.
Through interactive payslip platform PayDashboard, recently acquired by Experian, employees can better engage with, and understand their payslip information, offering HR teams and outsourced payroll service providers greater access to payroll insights through interactive dashboards.
The solution can integrate with existing payroll software to deliver online payslips, PAYE forms and payroll data.
Alongside access to their digital monthly payslip, the solution also offers a host of additional features to help engage and educate staff, reduce payroll-related queries, and make payday easier for payroll teams.
Recent research1 revealed 62% of employees said they have at one time felt confused about their payslip. Through the use of digital payslips, payroll teams can effectively communicate useful information to their employees about what their payslip means and support the whole workforce, particularly those who don’t feel comfortable reaching out for personal help.
Emma Davies, Strategy, Markets and Portfolio Director at Experian UK&I, said: “At a time of continued business uncertainty and financial pressures, gaining a better understanding of the information provided on your payslip has never been more important. PayDashboard’s solution allows employers to leverage the knowledge of their payroll team, along with the best digital technology, that supports the workforce through the economic turbulence we’re all currently facing.
“We’re excited to be leading the market in moving these processes into the digital age and continuing our mission to improve the nation’s financial health”
Paul Gibbons, Operations Director at PayDashboard, said: “Payday is a critical moment for employees to map out how they manage their finances, and an often-missed opportunity for businesses to connect with and support the people they pay. This investment will see PayDashboard accelerate the demand for a truly digital payday experience that will encapsulate other services offered by Experian that gives employees the power to share their verified data. Together we will help to improve access to various financial services via the payslip, so that people can make better decisions about their finances and businesses can improve the financial wellness of their staff.”