For years after the advent of the computer age there was the promise of a "paperless" workplace. But until recently, this has been less of a reality and more of a wish. However, it was the introduction of cloud-based computing and storage that really triggered the possibility of a truly paperless office. And we are seeing more businesses minimize their use of paper as they take advantage of web-based business solutions.
And while it may have seemed impossible not too long ago, payroll management services can now offer payroll processing systems that allow a business to set up and implement paperless payroll processes that are accurate, dependable, and reliable.
A Paperless Payroll Process Is a Good Thing
It is certainly in the best interests of everyone on the planet to consider paperless options. And while "going green" is admirable and can even enhance your company's image, ecological altruism isn't the only reason paperless payroll makes sense for today's business owners.
Managing your company payroll is a task that has to be taken on from the first day you hire your first employee. And it only becomes more complex and demanding as you grown and your staff size increases. A paperless payroll system can offer many benefits in addition to making your payroll management easier.
Saving More Than Just Trees
Paper costs are on the rise and, according IBISWorld, "the prices of paper and packaging products are on an upward trend as input costs rise for upstream suppliers and consumer shopping trends drive demand for shipping materials and services." In other words, paper for everything from packaging to payroll is costing more and will continue to do so.
So going with a paperless payroll system benefits your business in cost savings. If your business could eliminate the bulk of it's paper use that comes from processing payroll, cutting and mailing checks, filing government forms, and the myriad of related tasks that use paper, the impact would be significant.
Five Benefits of Paperless Payroll for Employees
You already can see some of the benefits of this approach for you and your HR staff. But the truth is, a paperless payroll system will make your employees happy, as well. Here are some of the advantages:
- They won't have to go to the bank and wait in line to deposit their paycheck
- Misplacing or losing their paychecks will no longer be a concern
- Their pay will be available on their payday
- Paystubs and pay information will be available anytime online
- They won't have to wait to pick up their checks at work or come in on their day off
In addition, they will have the peace of mind that the payroll will always be accurate, on time, and reliable. No more missed pay-days or processing errors by overworked and understaffed payroll departments.
Save Time, Save Money, and Save Trees
When viewed from the perspective of a strategic business owner looking to optimize resources while minimizing costs, going paperless is a no-brainer. When seen from the point of view of a conscientous business leader with an eye towards social responsibility, it is again, a no-brainer. And when you look at it with the eyes of a typical employee, it's a smart move on the boss's part!