Have you ever walked into your office only to find yourself lost in a maze of paperwork? Stacks of reports heaped on your desk, back-dated files stuffed into drawers, piles of paper just begging to be recycled? If this overwhelming experience is a common one in your office, you’re far from alone.
We all like to think of ourselves as modern and up-to-date on the latest technology. But the truth is that many of us still lean on the same archaic systems that turn our workspaces into our own personal paper prisons.
If you’re thinking, “There must be a better way!”, of course you would be right! If your office still looks like it belongs in the 80s, it’s probably time for a change.
Find Freedom with Paperless Payroll
For many years, paper has played a key role in the way we process payroll. From endless reports and paper checks to physical timekeeping slips, we’ve relied on paper to get the job done. Unfortunately, reliance on paper can lead to disorganization, paper pileup, and even higher overhead costs.
Luckily, going paperless is a simple and effective solution! With paperless payroll, your business will:
Increase Profits:
Bank of America reports that it costs between $4 and $20 to print, process, and mail a SINGLE paper check! Just imagine the costs when you factor in all those printed payroll reports and tax documents. Going paperless means saving money on paper products, ink, postage, and other costs associated with printing and delivering checks.
Improve Workflow:
With paperless payroll, your payroll processes are automated and completely digital, allowing for fast, accurate, and seamless processing. Time and attendance information is passed directly through to the payroll system so no manual entries are needed. And when you utilize electronic payment methods like pay cards and direct deposit, you minimize delivery time – ensuring that your employees are paid quickly and conveniently, every time.
Reduce Your Carbon Footprint:
Unsurprisingly, paper-based payroll processes take a significant toll on our carbon footprint. Every year, more than 200 million trees are cut down to produce paper and paper products – not to mention all the energy and water consumed during the process. Even worse? Only 17 reams of paper are produced by each fallen tree. To put that in perspective, the average office worker uses about 10,000 sheets of paper per year – that’s more than one entire tree per person, per year.
But the damage doesn’t end there. Check printing is yet another environmental offender, with CO2 emissions ranging between 5g-6g for EACH printed page. Of course, issuing paper checks also involves transporting them to their final destination, consuming even more natural resources. By choosing paperless methods instead, you’ll reduce harmful emissions – without reducing your profits.
Employees Benefit Too
As mentioned above, going paperless is beneficial for employees as well. Deliveries, particularly during the end-of-year holiday rush, can sometimes be unreliable. Instead, utilizing direct deposits ensures employees’ paychecks end up directly in their back account without the extra step of depositing it themselves. Additionally, their check information is conveniently available in our EmployeeXperience self-service portal whenever they need it.
Going paperless goes beyond direct deposits — W-2 forms are also an important item to consider moving away from paper. There’s already enough stress that goes along with filing taxes, so why waste time waiting for this important document to arrive or risk it getting lost in the mail? When opting in to paperless delivery, employees’ W-2s are instantly available once they’re produced. Plus, the sensitive information that can be found on W-2s is protected if it’s accessed through their secure EmployeeXperience portal. The same can’t be said for paper forms.
A lost W-2 is more than just an inconvenience. The W-2 contains exactly the type of information that identity thieves are looking for. This makes the risk of having such an important tax document lost in transit even more worrisome.
Go Paperless!
With eco-friendly payroll practices like electronic timekeeping, employee self-service, and direct deposit, you can escape your paper prison, keep your data secure, and protect our planet, too. The most surprising thing about going green? Paperless payroll is just as good for your business as it is for the environment.