May 3, 2013

E-payslips: The future?

Churning out contracts, timesheets and attendance records to name a few, the HR and payroll department are a paper-making machine.

While the requirement to print certain documents remains, there’s little doubt that this approach is hardly environmentally friendly. But times are changing and there are some documents traditionally delivered in hard copy that have made the successful move to digital.

With the government increasing pressure on organisations to reduce their negative environmental impact and to operate more sustainably, the need to tackle one of the biggest paper generators – payslips – has been recognised.

According to independent research, a single paper payslip contributes 2.8 grams of CO2 to the UK’s total emissions. They have been a main offender for decades, creating the seemingly endless need for paper production up to 52 times a year per employee (and that’s not including expense slips or the paper used for posting!). E-payslips remove the need for the production and circulation of paper-based payslips, allowing employees to view this information online.

Making the shift from paper to electronic payslips is a good idea for both the reputation and bank balance of your business, not to mention one less thing for Mother Nature to worry about. You’ll automatically reduce the environmental impact of your business, cut the carbon emissions involved with printing and posting, as well as significantly minimise your company spend on paper, ink and stamps. There are also the benefits e-payslips bring to employees, such as the ability to quickly rectify a mistake, and the avoidance of details of pay falling into the wrong hand.

Although data loss incidences are rare, there are a handful of risks involved with traditional payslip distribution. For example, with independent distributers, there’s the that chance payslips may be lost during transit, leaving confidential information, such as wages, bonuses and overtime, open to unauthorised eyes.

The benefits of ePayslips:

  • The cost of stationery sees a significant reduction
  • Less time is required from payroll to create and distribute payslips, giving them time to add value in other areas
  • The paper consumption of your business significantly decreases, helping to reduce your carbon footprint and save more trees
  • Security concerns are diminished, thanks to the ability to view details securely within an online, password protected environment
  • An automated and streamlined payroll system
  • Fewer instances of incorrect pay, because e-payslips can be accessed before money hits employees bank accounts
  • Information is accessible anywhere, at any time as long as you have an internet connection

In this technological age, where most households are connected to the internet via several devices, it seems natural that such a common process would catch up with the rest of the modern world. Moorepay recommend that any business consider moving from a paper-based to electronic approach, and embrace the benefits of HR software. For more information on e-payslips, get in touch with us today on 0845 184 4615

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