We continue to be surprised that there are still companies producing and posting physical payslips for their employees. We understand that there are some benefits for some of your staff this way, however we believe that there are many more disadvantages.
We’ve identified some of the main benefits to making the switch to online payslips. After all, how and when your employees are notified of their pay can have a huge impact on how they view your business, and how they work for you. With a vast increase in companies going digital, you need to stay ahead of the curve. So let’s look at some of the benefits of switching to online payslips in more detail.
It goes without saying that a key benefit of switching to online payslips is to save money. There is so much to gain back financially by making that switch to digital payslips. You can reduce your pay run costs significantly by eliminating pre-printed payslips and postage. Both of these elements for a typical pay run can cost upwards of £1,400!
Yet producing PDFs and posting them to an online portal costs a fraction of that! On top of this, switching to online payslips also saves you the trouble of purchasing or leasing specialised printers or franking machines, which are very expensive to purchase and just as expensive to maintain in the long run.
Which brings us onto the next point – time and effort. Producing physical payslips takes time. Printing and posting can take up hours of our time, so why choose that option when you can create payslips within minutes, and share them with your employees instantly too.
This is a massive benefit of switching to online payslips and demonstrates how it makes you and your employees’ lives much easier. Imagine what you could do with that time back!
Our third and final point on the benefits of switching to online payslips revolves around keeping your staff happy. As mentioned earlier, companies are realising the benefits of digital processing and online payslips are fast becoming the norm. If you continue to provide physical payslips for your employees, they may look elsewhere to companies who are able to provide them with that quicker, more convenient service. Employees expect to receive their payslip straight away, and to be able to access all their previous payslips in one place, at any time.
These are just some of the reasons why your business should switch to online payslips. So to cut costs, save time, and keep your staff happy, we recommend you make that shift to online payslips, and reap the benefits that digital payruns bring with them.
