Switching to electronic payslips not only marks you out as a modern employer – there are tangible benefits for employees and organisations alike
Electronic payslips (sometimes referred to as ‘epayslips’) are part-and-parcel of the majority of modern self-service HR software solutions. As well as making life easier for HR and payroll teams, employees also appreciate the benefits of having instant access to their pay records online.
Here are our top six benefits of online payslips for organisations and their employees.
Three benefits for your organisation
1. Electronic payslips are cost effective
Because payslips are available online, there’s no need to print or post them to staff – reducing your spend on paper and postage. You’ll probably save money on labour time too: 83% of respondents to a 2016 CIPP study said they saved money by switching to electronic payslips. These savings range from £1,200 to £6,000 per year, depending on the organisation.
2. They are more environmentally friendly
Because there’s no need for printing, your organisation will be using less paper and ink – contributing towards your environmental and waste-reduction goals. Eco-conscious staff will appreciate this step towards ‘going greener’.
3. Online payslips are more secure
Secure payslip delivery means there’ll be less risk that confidential pay information is left around the office for others to read if payslips are stored online. There will also be a complete history of payslips.
Three benefits for your employees
1. Staff can view payslips anytime, anywhere
Invest in a mobile-optimised self-service HR system and your staff will be able to view their payslip anytime, from any internet-enabled device. This means that staff who aren’t desk-based – such as those who work in the field, or in warehousing or retail operations, for example – can access their payslip from their own mobile phone, without needing additional equipment.
2. Instant access to historical payslips
Employees will be able to download, send electronically and print historical payslips from your self-service system, helping them to meet evidence requirements for loans and mortgage applications, for example.
3. Payslips will be stored in a single, secure place
With electronic payslips, employees won’t have a new bit of paper every month to add to their filing pile at home. Instead of looking through paper records for confirmation of their pay, they’ll just need to log into their self-service HR account to check details of pay, tax and deductions.
This article was first published in May 2013. It was updated in September 2018 for freshness, accuracy and clarity.
Ciphr’s HR and payroll solutions enable employees to access their payslips online in real-time. Discover more about Ciphr’s HR payroll systems now