The notion of becoming environmentally sustainable is a popular and increasing trend among businesses today — a trend that can have a meaningful impact on your business financially and from a socially responsible perspective as well. So it’s really not a question of should you go green with your payroll, it’s really a question of when.
Smart Business spoke with Mark Strippy, Executive Director at Heartland Payment Systems®, about the benefits of a Web-based payroll solution.
Is now the time for your business to go paperless with its payroll?
According to the American Payroll Association, every year more than 146 million workers in America receive a paycheck. That's more than 3.5 billion paychecks per year. By providing paperless payroll you reduce or eliminate the production of paper reports and direct deposit vouchers — helping your business save in paper waste, water and energy.
Other benefits of Web-based, paperless payroll to help you save resources and gain efficiencies include:
- Direct deposit, payroll cards and online pay statements mean you never have to make a special trip to your other business locations to drop off paychecks.
- You can submit your payroll data according to your schedule — whether it is early in the morning or late at night — through a Web-based payroll system. And you can submit it from anywhere.
- Payroll reports are available when you need them, not when the courier shows up. Reports can be emailed to your CPA and bookkeepers — creating additional efficiencies and security.
- Online pay statements allow your employees to keep track of their earnings 24/7/365.
- Direct deposit is a secure, convenient way to pay your employees, giving them immediate access to their funds on payday — even if they’re on vacation.
Plus, by using a Web-based green payroll solution, you won’t have to archive paper copies of payroll reports, W2 checks or vouchers. All data is stored online and should be protected by the payroll company’s data security policies and procedures.
Most payroll companies today charge additional fees for printing and delivery costs. However, Web-based access to the employer/employee data should be free (or provided at a significantly reduced price) compared to payrolls that are delivered via courier — so there will be savings by switching to this greener option. And you can reinvest that savings back into your business for other improvements.
Remember, too, greening a business shows that the owners care about people and the environment. By reducing waste and energy, a business demonstrates that it is socially responsible.
If you’re ready to make the switch to more environmentally friendly payroll — that also saves you money and time — you need to make sure the payroll company/service that you use is able to provide a secure Web-based set of tools to provide you and your employees access to standard payroll reports, and a report writer for customized reports. The employees must have access to an employee self-serve (ESS) Web application with the ability to enter and modify demographic information as well as to review and print payroll specific information.
Today, “green” is everywhere. By greening your payroll you can turn a responsibility into an opportunity to gain efficiencies, save money and provide a perk for employees.
Now is the time.
Heartland Payment Systems, Inc. (NYSE: HPY), the fifth largest payments processor in the United States, delivers credit/debit/prepaid card processing, gift marketing and loyalty programs, Web-based payroll, check management and related business solutions to more than 250,000 business locations nationwide. A Fortune 1000 company, Heartland is the founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. The company is also a leader in the development of end-to-end encryption technology designed to protect cardholder data, rendering them useless to cybercriminals. For more information, please visit HeartlandPaymentSystems.com, MerchantBillOfRights.com, CostOfABurger.com and E3Secure.com.