Paper checks are still one of the best payment options for employees. However, many small business owners immediately jump on the direct deposit bandwagon. Paying employees with paper checks is quite advantageous for small business though. If you are setting up human resources operations for your small business, you will definitely want to consider using paper checks and an Excel timesheet to pay your employees. Find out why paper paychecks are still one of the best small business payroll solutions in the post below.
Paper Saves Money
Paper paychecks save small businesses money. As a small business owner, you have many different costs to worry about, particularly in regards to human resources expenses. HRM system solutions can be quite expensive. Using paper checks to pay workers will save you money on third party direct deposit paycheck solutions. Those types of payroll solutions can put a huge dent in your overall operating budget. Save business money by writing paper checks to pay employees. Then, you can spend that business capital on other, more expansive human resources technology. The low cost of paper paychecks is one of the many reasons why they are so advantageous for small business HR in particular.
Paper Affords Employees’ Privacy
Using paper checks protects your employees’ privacy. When you use a payroll solutions company to process direct deposit for employees, their information is funneled through numerous channels. First, they give it to you. Then, you pass the information along to the third party payroll processing provider. The more channels your employees’ sensitive banking information passes through, the more likely it is to be compromised. This can cost your business tons of money in a lawsuit, should employee data be hacked and stolen. Paper paychecks provide the added benefit of increased employee data security, which is something no small business should turn down.
Paper Provides Employees’ Autonomy
A paper paycheck allows employees’ additional autonomy over their own salaries. Small business payroll companies force employees to choose in advance where and how they would like their salary distributed. That makes it very complicated for employees to change their direct deposit after they have initially made their decision. When you pay employees with paper checks, they have complete control over when, where and how they would like their paycheck disbursed. The more autonomy your employees have, the happier they will be. That is one of the big advantages of using paper paychecks for small business payroll.
Paper Always Works
Paper paychecks always work. There will never be a time that your checkbook experiences downtime from a hack or malware. The same cannot be said of paperless payroll technology. Technology has improved over the years. But, it is still not perfect. Payroll software can experience downtime, crash or become corrupt and unusable. That could spell disaster for your business and your employees. It could even lead to your small business falling out of HR compliance. Paper checks will always work, as long as you have a pen and a checkbook. This is a huge advantage for small business to have over larger competition that uses direct deposit solutions for business.
Paper Is Easy For Anyone To Figure Out
Paper payroll is easy enough for any adult to figure out. Not everyone is familiar with payroll software. Implementing new HR software can come with a very steep learning curve that takes a business months to bounce back from. With a paper payroll system, your HR department can continue operating at full capacity. That means that your business will never have to slow down or create new HR processes for direct deposit payroll solutions. Instead, your business can continue growing and expanding with the tried and true paper payroll system. This is hugely advantageous to any small business operation’s long-term sustainability and success.
If you are trying to set up payroll solutions for your HR department, you may want to rethink all you have heard about paper paychecks. Paperless payroll is the most popular payroll solution for business of all sizes. However, paper checks afford small businesses like yours a ton of advantages. Paper checks save small business money, provide employees’ additional privacy, data security and autonomy. In addition, paying employees with paper checks is a process that will never experience costly downtime or implementation and training time. Consider all these benefits when deciding how to set up your small business payroll operations for HR.