24 Jul Is your payslip easy to understand?
I think Australia would benefit from more of a focus on Plain Numbers, not just Plain English.
Last night I stumbled upon the work of the UK organisation Plain Numbers, and it really resonated. I’ve seen first hand in my work as a financial literacy trainer how many Australians struggle with numbers.
Plain Numbers research has identified that about half of UK adults have the numeracy expected of a primary school age child – and that many executives and communication professionals simply don’t consider this. The report released this month into the results of their work with organisations is fascinating. In some trials they achieved a doubling in the number of people who understood the communication on average. Yes, you read that right, a doubling!
This sent me down the rabbit hole of reading the report – here’s the link if you’re interested: https://plainnumbers.org.uk/research-and-reports
I was particularly interested in the case study with payroll provider, Pay Captain, with a great Before and After example payslip.
‘Most people have a payslip that looks like it is from the 1980’s – terribly designed, confusing and totally uninspiring.”
Simon Bocca, Founder of PayCaptain
In the words of Mike Ellicock Chief Executive, Plain Numbers: “Traditional payslips are crammed full of information, which is overwhelming and difficult to follow. Most people don’t question how they could be better. PayCaptain’s work proves the value of the Plain Numbers Approach – showing how careful choices around each number can completely transform the experience the communication provides.”
So what about you and your organisations – could your payslips be made less confusing?
Improving the transparency of payslips is a relatively simple tangible way to support employee financial wellbeing. It shouldn’t be overlooked in favour of ideas that might seem more “exciting”!