How to Make Payday Easier | If you run a small business and you are in the process of trying to streamline payday for everyone, it’s important to think about what is necessary. Consider what would make the most sense for you and your employees, while providing the type of payroll that allows you to focus on your job. For many employers, that can mean using an outside service so they aren’t spending most of Friday writing paychecks. Here’s what you should keep in mind as you work to make payday a good day for everyone involved.
Determine What Your Employees Need and Want
A good first step is to find out what your employees need and want. Some might prefer a pay card option, especially if they do not have a bank account and for whatever reason, cannot set one up. Others might want direct deposit, making it easy for them to pay bills and manage life while saving on a trip to their local bank. Either way, talking to them directly is the best way to stay informed on what they are looking for. If you have a larger company, collecting this information via a form or email might be easier than talking to everyone personally.
Set Up Direct Deposit
Many employees like a direct deposit because it saves them time. Often, banks do not place holds on funds that are directly deposited into an account, so there’s no waiting period to begin using money deposited by one’s job. Direct deposit is helpful when employees are on vacation or leave from work since they don’t have to find another way to get their paycheck taken care of. Being considerate of your workers and finding another way for them to save their time can make life easier for everyone.
Make Pay Stubs Accessible
Pay Stubs are important for a variety of reasons. You can use a paycheck stub online for something employees can print off and use as proof they are employed and earning a specific income amount. This is especially helpful for cases where employees need something to show for a home or apartment rental, credit cards, or any other financial information. Again, this is another instance where talking directly with your employees can be helpful, especially in finding out what their needs are and what would be useful for them. Making pay stubs available online means less paper waste, so employees are only printing what they need.
Find a Service That Meets Employee Needs While Being Affordable
Once you have a list of everything you and your employees would like to ensure a successful payday, it is time to find a company that can deliver those promises. Make a point to shop around, since this is the best way to get a better rate on payroll assistance and you might find something better for your company by learning about all the perks different businesses will offer. Ideally, you want something that can deliver to everyone at the lowest possible price point. Consider taking a lower-level payroll package and then moving up over time as your company requires.
If you are a small business owner, you know how important it is to make payday easy for both yourself and your employees. Start by finding out what your employees need in order to have a successful payday. Trying to get an overall feel from everyone, either personally or through a form that workers fill out might be the best way.
Find out what it takes to get direct deposit set up. This saves time for everyone, and employees don’t have to leave work to put their checks in. Their money is usually available the day they get paid, right away. Having paystubs available online makes it easy for everyone to print as needed, and it allows your company to save on paper waste. Find a service that is affordable, while fulfilling what you and your workers require. These suggestions can keep everyone happy in the long run.
