It’s true that employees expect their paycheck to be delivered to them promptly on payday. But did you know there are other ways your payroll program can affect employee happiness?
Payment method
The method of paying your employees may seem like a simple decision, but it really makes a difference to those getting paid. If you only pay by printed check, you are requiring your employees to make a trip to the bank to cash it. And, you also present problems for those who do not have bank accounts, an unfortunate but real issue for some employees. Direct deposit solves the issue of trips to the bank, but presents the same issue for those without bank accounts; after all where will they have it deposited without an account? Those kinds of employees would be overjoyed to have the option of receiving pay on a debit card. No bank account is required for this, and pay is available immediately to the cardholder.
Payment method
The method of paying your employees may seem like a simple decision, but it really makes a difference to those getting paid. If you only pay by printed check, you are requiring your employees to make a trip to the bank to cash it. And, you also present problems for those who do not have bank accounts, an unfortunate but real issue for some employees. Direct deposit solves the issue of trips to the bank, but presents the same issue for those without bank accounts; after all where will they have it deposited without an account? Those kinds of employees would be overjoyed to have the option of receiving pay on a debit card. No bank account is required for this, and pay is available immediately to the cardholder.
Most companies have a wide range of employee types. By offering multiple pay choices, including a combination of printed pay checks, direct deposit, and debit cards, you will have many options for your employees to choose from.
Pay data accessibility
People work for a variety of reasons, from the love of their job to the pay. But another reason of equal importance is the benefit package they receive from their employer. That is why employees love the ability to see at a glance where they are when it comes to benefits. How many vacation hours have I used this year? How much money have I contributed to my 401K? These types of questions are important, and giving employees the answers they need quickly, will keep them happy, and also cut down on administrative time checking on such things. Most of this information can be printed on the employee paycheck stub, where employees can have a chance to view this information. Whether it’s printed on the pay stub or elsewhere, be assured your employees will be happier with the ability to always know where they stand with their pay and benefits.
Tax form transmission
End of year is a stressful time for most, and having to agonize over when one will receive their W-2 form should not add to that stress. Sending employees their W-2 forms in a timely manner allows employees to file their taxes more quickly and also provides them with a comfortable feeling, knowing their employer is on top of getting them the tax information they need. One way to employee employees with their W-2 is electronically, where the form is generated for viewing and printing, and employees access their W-2 with a secure login and password. Providing the W-2 online ensures employees receive their W-2 faster, and it also cuts down on the time to print and distribute/mail the forms.
CenterPoint Payroll software has these tools and more, to keep employee satisfaction high, and help you streamline your payroll processes. Join a free, personalized online demonstration to see if CenterPoint Payroll is right for your business!