PayStubs Online is a secure, easy-to-use, Web-based tool that empowers employees to view their current and/or past pay stubs anywhere, anytime, from Internet-enabled computers. With PayStubs Online, your company can realize a 70% or greater cost savings, versus that of the traditional paper based systems.
PayStubs Online is the next logical step toward paperless employee management. In 49 of our 50 states, electronic pay stubs are an acceptable method of providing payroll information to employees. They also have widespread acceptance, averaging an 80% participation rate when offered by employers. Electronic pay stubs significantly reduce operating expenses related to printing and delivering payroll stubs, while enhancing the direct deposit services that your company already provides employees.
Employers realize dramatic cost reductions
Experts agree implementing the right electronic pay stub solution will result in substantial cost savings. Based on research the average cost of printing a pay stub for one employee is $1.90 per pay period plus postage and materials. This equates to approximately $60.42 per employee for 26 pay periods. Therefore, a company with 500 personnel spends approximately $30,210 per year just to validate payroll via pay stubs. While costs vary, this is a conservative estimate that does not include the expense of storage, replacement stubs, etc. PayStubs Online can reduce your cost of pay stub administration by 70% or greater through:
Eliminating paper cost i.e., forms, envelopes, and other paper goods
Substantially reducing printing cost of the pay stubs, envelopes, etc.
Greatly reducing postage to mail the pay stubs
Lowering time and costs required to reproduce lost pay stubs
Minimizing the time expended by payroll and administrative personnel to manage pay stub activities
Reducing storage costs, no more paper documents to store, everything will be electronic
Employees gain immediate protected access to pay stub information
PayStubs Online provides employees password-protected access to their current/historical pay stub information. This allows employees to proactively:
Providing employees access to online pay stubs, allows all of these tasks to be accomplished directly by the employee, without the involvement of managers or payroll personnel. The result is increased privacy and decreased administrative costs.
- Examine current pay period information
- Review pay history
- Provide information to agencies requiring employment verification
- Provide annual W2 forms