Paying Workers Without Paper Checks
The COVID-19 pandemic has created a widespread of challenges for businesses of all sizes. Not only has it changed the way businesses think and act, but it has changed the demands of employees and consumers alike.
One of the things the pandemic has changed forever is the way employees are paid and how they receive their money. It’s clear your employees and their families are in a tough position right now and they need as much help as they can get.
Unfortunately, many employers are still utilizing paper checks on payday -- opposed to the wide range of options available today. In fact, paper checks are one of the least-preferred methods when getting paid and it’s time for businesses to take notice of it.
So, why shouldn’t you use paper checks?
When business owners choose to pay their employees with paper checks, a majority of them don’t understand the process involved when printing the checks, placing them in envelopes, and sending them out. Not only does that require physical labor, but it requires time when dealing with shipping and handling.
As we’ve seen with the COVID-19 pandemic, physical labor is still difficult to manage and there isn’t even a guarantee that it’s available. In addition to that, employees need their money sooner than ever because a majority of them are living with their backs up against the wall.
When your business uses paper checks, it does more harm than good to the employee -- and even your business. It costs you money, it takes time, and employees are stuck waiting an unnecessary amount of time just to get paid for the work they’ve already completed. Some of them might have to pay a small fee just to access that money, especially if they don’t have a bank account.
If that’s not enough to persuade you to consider paying employees electronically, think about all the different hands -- as well as germs and potential viruses -- that touch the paper check before reaching your employees. With how important public health and safety is today, paper checks present far-greater risks than we once imagined.
There’s a Better Option When Paying Workers
For the business owners out there that think paying their employees via paper checks or even cash is the only option when paying workers, we want you to think again. Paying them electronically is a much-more feasible option in today’s economy, putting you and your employees in a position to succeed short-term and long-term.
It shows your employees that you’re thinking about them and that their needs matter to your company. In an age where many employees feel like they’re not being heard or appreciated, this can go a long way -- not just for you, but for the rest of your employees and customers.
With so many different options out there, including direct deposit, individual pay cards exclusive to your payroll, mobile wallets, and even services like Zelle and PayPal. Desperate times cause for desperate measures and your employees would do anything to rid themselves of dealing with paper checks.
If you need assistance or guidance when switching from paper checks to electronic payments, Consultants In-A-Box is here to help. We’re experts when it comes to payroll, human resources, and accounting services for businesses of all sizes.
Contact us today to learn more about how we can help you and your business find the success you were imagining when you first opened up. One of our trained professionals will assist you immediately.