Payroll has come a long way since workers were paid with cash in pay packets. It’s not so very long ago that people were paid in cheques. As in all walks of life, technology is advancing swiftly, with Smart Phones often at the centre of things, which, in the world of Payroll means digital payslips. In this article we look at 5 reasons to use digital payslips.
But first some statistics. 11% of employers are now looking for payroll providers who offer portal or smartphone access to payroll information in order for employees to receive digital payslips. More people are accessing different information from their mobile devices more than ever before, so this figure is only going to grow.
Reason 1. Convenience. Access anytime, anywhere
We are now seeing a change in how people work. With advances in technology allowing employees to work remotely on mobile devices and laptops, workers are no longer constrained to always being in the office from 9m – 5.30, 5 days a week.
Receiving payslips on a mobile phone can mean that your employee can access their payslip wherever they are and no matter what time of day it is. In addition, they can also access previous payslips, which means there is no need to file away paper pay slips and then spend ages trying to find them when it comes to tax return time.
Reason 2. They are GDPR friendly
Not only are digital payslips convenient for your employees, but there are also privacy and security advantages too which is great in the age of GDPR. If a payslip is sent to the wrong desk or emailed to the incorrect person, which is very easily done, then that is a serious breach of GDPR. With digital payslips, recipients have to log on with a unique and secure user name and password, which is more secure. Two-factor authentication to provide a further layer of protection is also becoming more common.
Reason 3. Reduce HR Queries
Access to portals or pay apps, along with all the additional information they hold, will almost certainly reduce the number of payroll related queries fielded by your HR and/or payroll teams. This additional informatio0n will help your staff understand their pay better, too, helping them to plan their finances better.
Reason 4. Reduce Costs
Electronic payslips can help your business save money, as there will be no need to print and post them to staff. 83% of employers in a 2016 CIPP study said they saved money by switching to electronic payslips, with some larger firms suggesting that they had saved up to £6,000 per year.
Reason 5. The Environment
As well as saving you money in printing and posting, electronic payslips can also help the environment, due to the reduction in paper and ink used.
Talk to us About Digital Payroll
With more companies offering electronic payslips, soon the paper payslips will be dead. It is important as a company that you keep updating and changing your payroll processes to ensure you are compliant, efficient and up to date. Talk to us. We can help.