E Payroll - Make the Move to Paperless Payroll

E Payroll is steadily gaining in popularity as companies see the benefits and cost savings of moving to Paperless Payroll.

How Paperless E Payroll Works:

Companies that make the switch to Paperless Payroll stop providing “live” checks for their employees, and instead move to electronic money movement. This may be accomplished in two ways: either through direct deposit into the employee’s bank account, or for those without a bank account, through direct deposit onto a “payroll card”, which essentially works like a debit card.

Each employee will be given a unique password to a secure site where they are able to view or print their paycheck stubs. Because of this, many states require that employees must be able to access the internet from work. See this list of each state and their specific requirements for E Payroll check stubs.

Paperless E Payroll Benefits

Going to a paperless format typically saves money; a company no longer needs to pay fees for cutting checks, stuffing envelopes, and delivering payroll. The savings realized, however, may be somewhat negated by some outsourcing payroll providers charging a fee for providing access and employee passwords to their secure website. Of special note: Read this article to see why Paperless Open Enrollment can save companies between $25 and $75 per enrolled employee, as well some of the other benefits of Paperless Open Enrollment.

Going paperless helps the environment; the volume of paper used in the payroll process is greatly diminished, reducing consumption of trees, and lessening the volume of discarded paper in both recycling efforts and landfills.

Potential Drawbacks to Paperless E Payroll

Some employees will be resistant to E Payroll. Most of these employees tend to be older or less computer savvy, and may feel intimidated by using technology they don’t understand well. Others are resistant to change in general; they are used to taking a live check to cash at their local bank. Employees who do not currently have an active bank account may have concerns about how they will access their money; in this case, a company may opt to use a payroll card.

Companies may need to offer training sessions to assist these people in accessing their payroll check stubs, or may need to provide a computer for employees to use at work.

Once employees concerns about change have been addressed, Paperless E Payroll tends to be a positive change for most companies overall.