Paperless Payroll: 6 Things Employers Need to Know
paperless payroll on laptop

Paperless Payroll: 6 Things Employers Need to Know

Now more than ever, businesses are looking for ways to go green, while also maintaining security. Doing away with paper pay stubs and checks in favor of an online portal is a great way to do just that. The benefits of paperless extend further as the majority of employees today prefer direct deposit and receiving their check stubs electronically.

Why should I switch to direct deposit and paperless?

  1. Give employees what they want
  2. Not only are online check stubs a good way to save paper and money, but they are also very popular with employees. 87% of employees are highly satisfied with their decision to use direct deposit, according to a recent NACHA survey. 73% say it helps them feel in control of their finances while 72% say it helps them manage their money. With the introduction of mobile apps, employees are able to view their pay details securely from anywhere at any time.

    mobile payroll processing

  3. Reduce paper waste
  4. Although 64% of employers encourage or require workers to use direct deposit, 43.9% of American wage earners receive a paper pay stub. That adds up to approximately 1.8 billion paper check stubs each year. That’s 3.6 million reams of paper and more than 200,000 trees. Switching to online check stubs is a simple way to reduce your company’s carbon footprint.

  5. Keep your payroll information securely accessible
  6. There are many benefits to switching from paper paychecks to online check stubs, including security. You never know where paper pay stubs may end up, which means your employees’ sensitive information could be at risk. An online system allows employees to view their pay stubs securely and on their own time. Online check stubs along with online reports also mean no delivery fees or lost payroll records.

    Employers should know that workers trust direct deposit. According to NACHA, 83% say it’s a safe and secure method to receiving pay.

  7. Keep payroll records up to date
  8. Using checks means that an employee who is sick or on vacation doesn’t get paid until they come back to work. Employees like being paid immediately, regardless of whether they are in the office on payday. Moreover, bookkeeping will be immediately up to date; you don’t have to wait until everyone cashes their check for the books to balance.

  9. Reliability
  10. With direct deposit employers are able to process payroll and pay their employees on time regardless of national holidays or things like bad weather or natural disasters. This puts confidence and reliability into an organization's framework.

    payroll data on laptop

  11. Costs of running payroll
  12. Paychecks are expensive. According to the National Federation of Independent Business (NFIB), it can cost employers $3 to print a single check. For organizations with a dozen or more employees, and those looking to grow, these costs can begin to stack up quickly.

    How Can a Payroll Service Help with Direct Deposit?

    Time is money, and you don’t want to waste time (especially as a medium or small business owner) running payroll and managing payroll taxes. A payroll service can handle those tasks for you.

    Cloud-based payroll software makes the information available anywhere and from any device. The direct deposit process should be seamless with a top-notch customer support team that’s a phone call away should any questions arise.

    For more information on how Paycor can help with your payroll and direct deposit, click the button below for a self-guided tour.

    View Payroll Software

More to Discover

Webinar: Virtual Demo: Employee Experience Solutions - 2/18 @1PM ET

Webinar: Virtual Demo: Employee Experience Solutions - 2/18 @1PM ET

Paycor’s human capital management software modernizes every aspect of people management, from the way you recruit, onboard and develop people, to the way you pay them, retain them and build a company culture. With a single source of truth for all employee data, you’ll never have to switch platforms, log-in to multiple systems, re-key information or open multiple spreadsheets. In this live virtual demo, our product experts will highlight Paycor’s Employee Experience Solutions, including HR, Learning Management and our mobile functionality. Discover how HR Leaders can build a great place to work where people show up, make a difference and win together. During the webinar, we’ll highlight how Paycor helps you: • Get out of the weeds and...

Webinar: Relationship Wellness Series: Navigating the Different Personalities at Work - 2/23 @2PM ET

Webinar: Relationship Wellness Series: Navigating the Different Personalities at Work - 2/23 @2PM ET

The differences in our ideas, backgrounds and personalities often strengthen the success of our teams. However, sometimes the differences can be a challenge. One simple way to enhance communication among the differences is to learn about each team member’s personality type. The purpose of this webinar is to help you easily identify personality types and better navigate successful relationships.In-depth personality type tools often require budget and lengthy training. In this webinar, our speakers will cover the following: - Learn a tool to help you self-assess your personality - Discuss the preferences of the different personality styles - Participate in exercises to help you better understand - Learn tactics to adapt to others’ styles...

Webinar: Relationship Wellness Series: A Case Study - Creating an Inclusive Workplace for Your Workforce - 2/11 @2PM ET

Webinar: Relationship Wellness Series: A Case Study - Creating an Inclusive Workplace for Your Workforce - 2/11 @2PM ET

What does #BLM mean to your organization? Responsible organizations are waking up to learn that it is more than a hashtag. Historically, systemic inequities brought to the surface by #BLM and other awareness groups have had a disparaging impact on minorities. Because the system of oppression is designed to protect itself after hundreds of years, we all have a lot to learn about how to make change. Attend this session and learn how one university IT Dept of 300 people changed their culture using assessments, planning, and gumption. They increased feelings of inclusiveness among their Black workforce, and their female workforce, and ultimately increased employee engagement and job satisfaction.At the end of this presentation, and through a...

Demotion Letter Template

Demotion Letter Template

There’s nothing better than seeing employees thrive, but setbacks and slips in performance do happen. One way to address performance problems is a demotion. Sometimes, it’s necessary to take a step back before you can take two steps forward. Download Demotion Letter Template When is a Demotion Necessary? In an ideal world, there wouldn’t be demotions. They are a sign something’s wrong: it could be that an employee has failed to respond to a performance improvement plan or they could just be disengaged. A demotion is the last stop before termination. If you believe the person has potential and is worth investing in, then a demotion might be the best way forward. Demotions are risky, though. You could end up with an employee who is even...