Finding a payroll system that works for both you and your employees can be incredibly tricky.
However, if you want to streamline your efficiency, improve office morale, and save yourself serious time and money, you need to find the solution that's right for your team.
Today, more and more companies are realizing that moving to a paperless payroll is the way to go.
Are you considering making the switch?
Read on to learn why it's a great idea.
1. You Won't Have To Stress About Taxes
Nobody likes paying taxes.
In addition to having to fork over a serious chunk of change to the government, you also have to deal with the complete nightmare of understanding both federal and state requirements.
Luckily, paperless payroll provides you with the perfect solution, thanks to automatic compliance with tax laws.
Now, you won't get stressed out when it's time to file, because you'll know that you and your employees have used their payroll software to make the process much easier -- and automated.
2. You'll Be Better Organized
Are you tired of losing time and space in your office dealing with giant document storage file cabinets? Wouldn't your life be easier if you could get all your payroll information in one place?
When you go paperless, you can.
Paperless software means you can seriously declutter your office, since there's no longer a need to keep paper records. Also, all of your employee's payroll information will be in a single program.
You can have access to these documents for as long as you need to.
Paperless payroll will also help your future meetings with your accountant go much more smoothly.
Instead of spending time gathering and organizing documents to send to them, you can get the information to your accountant with the click of a button.
3. Your Information Will Be More Secure
Even if you're the most organized person in the world, nothing is going to save your paper payroll statements in the event of a fire or a flood in your office.
Plus, think about the time you'll lose when you have to find a way to replicate that lost information.
When you go paperless, you're not just increasing convenience -- you'll also get better security. But it's not just about having digital copies of all your files.
The software also takes numerous precautions to ensure that your data is protected. You'll have cloud storage, better password and encryption security, and more frequent backups.
4. Handle Payroll Processing On Your Own Time
Another beloved benefit of paperless payroll?
The data can be accessed anywhere, anytime. Feel like sorting through your payroll at the local coffee shop in the evening after work? Now, you don't have to come into the office.
Often, you'll even be able to access payroll data from your smartphone. This means that you'll no longer have to stress about meeting payroll deadlines and prioritizing payroll during work hours.
Wouldn't it be great to have some more flexibility?
5. You'll Tackle Timesheets
Let's face it: dealing with the hassle of timesheets can be a complete nightmare. In addition to being a huge stress factor, they're also a great way to waste valuable company time.
Especially if you frequently hire freelancers or outsource your work, keeping track of your timesheets can eat up a large portion of your day.
But when you switch to paperless payroll, everything will be much easier to handle. Digital versions of your timesheets can be shared with your freelancers, full-time employees, and clients with the simple click of a button.
Now, you can spend more time actually working at work.
6. You Can Go Green
Did you know that the average American uses over 700 pounds of paper in a single year?
Even if you're a small business, it's highly likely that your office consumes and wastes a good amount of paper every day. But recent studies have shown that both potential employees and potential clients are much more interested in working with and for companies that are committed to sustainability.
This means that paperless payroll, in addition to other sustainability solutions, will help your company to attract the right kinds of people.
Of course, it goes without saying that you'll also save lots of resources when it comes to budgeting for paper and printing supplies.
7. Your Employees Will Be Happier
A recent study found that more than half of the world's employees aren't currently happy with their workplaces.
This leads to job hopping, which can get expensive, time-consuming, and incredibly frustrating for employers.