Going Green: Eliminating Paper Payroll
Companies can utilize a wide range of processes to become more earth friendly and closer to becoming free of paper. The type of payroll service companies use is one such way companies can work toward saving some trees.
Payroll is essential and it generally requires a whole team to get it accomplished during the companies pay cycle. Employees work to get paid – that’s life. However, by getting those processes online, employees will be happier and companies will be saving money.
We are a society focused on the Internet, online budget programs and online bill pay. What can be easier than having your bills paid automatically each month, or receiving your bill in an e-mail and then simply and easily scheduling it to come out on time. It is a great way to save on the expense of stamps and checks, aside from the environmental aspect. While it may seem a bit unnerving to take the step to having monthly deductions without your supervision, knowing that you don’t have to remember to schedule bills is a huge relief. No longer will you need to worry about being late on a payment – it’s already scheduled!
First companies began the trend with direct deposit. Instead of having to waste time by picking up your check at the office and then delivering your check to the bank and then waiting for the check to clear, the money is accessible right away on payday. It arrives much faster than if you have to run to the bank. And, don’t forget the potential gas and time savings. Gas prices keep rising and anything we can do to avoid driving is helpful.
Usually once direct deposit kick in you will still receive your pay stubs in the mail so you can keep track of your yearly pay, taxes and any benefits deductions. However, if more companies either utilized a payroll service to get the statements online or use their own system to make online pay stubs a reality, there would be a tremendous savings for both the company an the employee.
Online pay statements offer great benefits to both employers and employees. It allows quick and easy access for employees. No more paper in the mail, no more stuffed file cabinets with weekly or bi-weekly statements. These systems may also offer more security as sensitive payroll and personal information will no longer be traveling in t he mail and falling into the wrong hands. And, if we are being honest – how many people actually look at their pay stubs each time one arrives in the mail? I would guess a large majority of people just shred them anyway. This would eliminate this need altogether.
These online systems can also be integrated with other processes to offer a potential one-stop resource for all payroll, benefits and even holiday/vacation time requests or accrued hours. Just imagine if you could handle all of your payroll requests online, change your benefits elections, verify your tax information and even confirm your current address.
In the future we will find that more and more companies will go toward online payroll systems or a payroll service. By providing quicker and easier access to information, more secure and confidential means of delivery and more environmentally friendly methods of getting information to employees, online systems’ popularity will only grown over time.
About the Author:
About the Author: Rebecca Beckett is a freelance writer for Innuity If you would like more information about payroll service or Payroll go to Human Capitol Strategies
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