Employees Embrace Online Paycheck Tools, Payroll Cards
SAN ANTONIO, Sept. 19, 2012 /PRNewswire/ -- Seventy-six percent of employees would prefer to view their pay stub electronically, according to results from the 2012 "Getting Paid In America" survey conducted by the American Payroll Association. The process known as "paperless payroll" sees companies deliver payroll data through a secure online portal instead of the traditional paper pay statement.
"The survey indicates that employees strongly favor using technology to review their paycheck details. The results support the trend we have seen among our customers who are adopting Web technologies for payroll every day," said Liz Bucko, director of payroll and tax product management at Ultimate Software. "We commend payroll professionals who are all working hard to manage the process efficiently by keeping employees happy, supporting their businesses with an accurate and compliant payroll, and helping our economy move forward."
The annual "Getting Paid In America" survey asked respondents "How would you feel if your company no longer gave you a paper pay statement but instead provided a breakdown of your paycheck through an online portal?" Seventy-six percent responded either "would like it" or "my company does it and I like it." An additional 15 percent were open to the method, responding that it "wouldn't matter." Only nine percent would not like such a program.
"These responses reinforce a trend we're watching closely – that more people are embracing the use of technology in the workplace," said Paychex President and CEO Martin Mucci. "As this trend grows, we will continue to offer choices that ensure business owners have the freedom to succeed and that their employees have access to information whenever and wherever they need it."
Additional survey results reinforced employee openness to electronic pay options with 97 percent indicating they're paid by direct deposit, paycards or prepaid reloadable cards. All three payment methods allow employees to be paid electronically—even those without a bank account. Only three percent of respondents indicated they're paid by paper paycheck or other methods.
"There are a lot of misconceptions about payroll cards. We find once a company offers payroll cards along with a great training program, employees are much happier using the card than receiving a paper check," said Michael Purcell, executive vice president and chief marketing officer, Global Cash Card. "Employees save time not having to cash a check, they save an average of over $170 annually and they have the security of their funds being on a card. It's a win - win solution for everyone."
The "Getting Paid In America" survey was held in conjunction with APA's annual public awareness campaign, National Payroll Week (NPW). More than 30,600 employees responded to the survey, providing insight into how workers are paid in America. For complete results, visit www.nationalpayrollweek.com.
The APA is the nation's leader in payroll education, publications, and training. Visit APA online at www.americanpayroll.org.
SOURCE American Payroll Association