There are modifications just about within the economy and the global climate that create the move from paper checks to electronic payment additionally compelling each day. By offering paycards or paycards in conjunction with direct put down, employers can greatly decrease or eliminate paper check printing and distribution.
When conferencing with a company last week, (using the telephone and webinar technology over the internet), I was told that they have no requirement and do not want to offer a paycard solution for the reason that they are exclusively focusing on an internal initiative to reduce their carbon footprint.
One of my favorite meanings of a carbon footprint is: a calculation of an individual's, family's, community's, company's, industry's, product's or services generally contribution of carbon dioxide and other greenhouse gases into the atmosphere. It takes into account energy use, transportation techniques and other means of manufacturing carbon. There are a number of carbon calculators have been created to approximate carbon footprints for businesses and individual households accessible for free on the internet. One of the most excellent is the simple calculator on the Web carbon fund (dot) org.
Employing a pay card solution can greatly decrease a company's carbon footprint, in addition to, save the company and their employee’s money. Allow me illustrate, using “ABC Company as an example.
Through the course of our conversation, ABC Company told us they have 2,500 employees in 17 locations across the US and that 40% of their workforce gets issued a paper check.
How do those 40% get their paper check?
So as to comply with their internally-set payroll standards, they concern checks on Thursdays and overnight them for release on Friday to each one location.
Eradicating paper checks is important for many reasons. The obvious? Cost - eradicate the escalating costs of during the night shipping for paper checks. I sent an overnight package two days ago using the carrier's letter size wrap from Portland, Oregon to Dallas, Texas (approximately 1600 miles away). The shipping cost for this one letter package was $46.50!