Answer extracted from the Inspiring Industry Podcast — listen to the full episode below.
How is CIPP building financial literacy programs for young people?
CIPP is developing online programs targeting 16- to 18-year-olds that start with practical financial basics: understanding pay slips and what deductions mean. These programs are designed to help school leavers grasp tax and national insurance contributions, with clear expansion plans into budgeting and financial planning awareness streams.
Building foundations from the first pay slip
Financial literacy begins with understanding what happens when money lands in your account. CIPP's approach recognizes that the pay slip is the starting point for most young people entering the workforce—a document that can feel overwhelming without proper explanation.
By focusing on deductions and net pay first, the programs demystify the connection between gross income and what actually reaches a bank account. This foundation matters because tax and national insurance are concepts that often confuse young workers, yet they directly affect financial planning from day one.
Growing beyond basics into real planning
The initiative doesn't stop at pay slip literacy. As Jason Davenport explains in the Inspiring Industry Podcast, CIPP has mapped out expansion into budgeting and financial planning as the next phases of these educational streams.
This progression is intentional: once young people understand their take-home pay, they can move forward to managing it effectively. The broader strategy signals that financial literacy at CIPP isn't a one-off lesson, but a structured journey tailored to how people actually enter and navigate the workforce.
"Is your payroll team trained and qualified and are they supported properly? Payroll professionals should be celebrated every day."
Jason Davenport — CEO of the Chartered Institute of Payroll Professionals. Davenport spent 10 years in construction delivering payroll before moving into business process outsourcing at CMG (later acquired by Logica, now CGI), where he became associate director and director. He worked across multiple continents—France, Netherlands, Belgium, India, Philippines, and America—delivering payroll services across up to 127 countries. He served as non-executive director and board member of CIPP from 2012 to 2021 and is also a mentor in the UK government's Be the Business scheme supporting SME productivity.
Understanding how CIPP is tackling payroll education and professional development reveals why initiatives like these matter: they're part of a broader mission to make payroll a respected, understood career path and to equip the next generation with essential financial knowledge.
See also
What is the significance of payroll management in business operations?
Payroll is key to every business and to the UK economy. For businesses, labor cost represents a huge part of most operations, making accuracy critical in ensuring financial stability and compliance.
How many payroll professionals are employed across the UK?
There are over 100,000 people involved in payroll across the UK. However, the Chartered Institute of Payroll Professionals has approximately 6,500 members, reflecting the broader scale of the profession.
What is the total value of taxes collected by payroll professionals in the UK annually?
Payroll professionals collected £378 billion in taxes during the 2022 tax year. This represents a significant contribution to the UK economy and demonstrates the critical role payroll professionals play in government finances.