Technology is always advancing and working habits are changing along with it, including the way that people are paid and receiving their payslips.
11% of employers are now looking for payroll providers who offer portal or smartphone access to payroll information. Most people are accessing different information from their mobile devices more than ever before according to the Office of National Statistics research. We can do almost anything on our mobile devices now, from banking to managing emails and even making purchases, so why wouldn’t we also receive our payslips digitally too?
Access anytime, anywhere
We are now seeing a change in how people work. With advances in technology allowing employees to work on mobile devices and laptops, workers are no longer constricted to be in an office, doing the normal 9-5 hours.
Receiving payslips on a mobile phone can mean that your employee can access their payslip wherever they are and no matter what time of day it is. Not only can they view their recent payslip, but they can also look at old ones too if needed. Instead of filing bits of paper away every time they receive a payslip, it will all be in one place, easily accessible from anywhere, which is useful for staff when needing evidence requirements for any loans or mortgage applications for example.
Not only are digital payslips convenient for your employees, but there are also privacy and security advantages too which is great in the age of GDPR. If a payslip is sent to the wrong desk or emailed to the incorrect person, then that can be reported as a serious data breach. Letting your employees log into a secure server or app on a phone can prevent these mishaps. You can even have a two-factor authentication to provide a further layer of protection, so not only do they use a password they will also use another item to prove their identity.
Reduce HR Queries and Educate your employees
Access to portals or pay apps is a great way to reduce the number of queries to HR and payroll teams. Allowing your employees to understand their pay can help them plan their finances better and ensure your employees are in a good financial position and not worrying about money as much. In April 2019 employers will now be required to provide employees who are paid according to ‘time worked’, details of the number of hours being paid on their payslip this time. Many payroll solutions (such as FMP Global) already offer such capability, however, not all employers provide hours information to their payroll or, if they do, choose not to show such information to their employees on their pay statement. This will need to change.
Electronic payslips can help your business save money, as there is no need to print or post them to staff, reducing paper, ink and courier charges. 83% of people in a 2016 CIPP study said they saved money by switching to electronic payslips, with some stating they saved up to £6,000 per year.
As well as saving you money in printing and posting, electronic payslips can also help the environment, as a lot less paper and ink are used. Organisations all over the world are trying to do their bit and help improve the environment and this can be a great, easy way to do so and help show employees and customers that the company is eco-conscious and not wasteful.
With more companies offering electronic payslips, soon the paper payslips will be dead. It is important as a company that you keep updating and changing how you are doing payroll to move with the times and ensure you are lawful and knowledgeable about any new legislations. In 2019 it’s not just the way we give payslips are changing. Check out our eBook on the top 10 payroll issues companies will face in 2019 to help you plan for the new year.