An online payslip, also coined electronic payslips form integral parts of modern HR systems. Using online payslips not only mark you as a modern employer, but also make life easier for HR professionals. Not only this, but it is a more efficient way for employees to view their pay records online. Giving them access at the click of a button, whenever and wherever they want. A free online payslip is a cost effective, and simple way to send out payslips, it’s a no brainer really.
- The benefits of free online payslips for your organisation
- The benefits of free online payslips for employees
- Download Factorial’s free online payslip template
- Factorial’s payroll feature
- ✅ Register with Factorial today to manage payroll tasks in one place!!
The benefits of free online payslips for your organisation
Online payslips are cost-efficient
A CIPP 2016 study found that 83% of their respondents claimed to be saving money when they switched to electronic payslips. These savings, depending on the organisation, ranged from £1200-£6000 per year.
The savings originate from cost savings in labour, as well as savings in the price of printing and posting them. For big organisations with hundreds of employees, these costs would amount to a lot. Additionally, the time saved by HR professionals, could be dedicated to other more productive tasks, tasks such as supporting employees and increasing employee satisfaction within the company. Using or creating a free online payslip can be guaranteed to save your company a lot of money in the long run.
Free online payslips are better for the environment
Due to not needing to print the payslips, paper and ink will be saved in the process. This will help facilitate in achieving environmental and waste reduction goals.
Online payslips take up less space
By utilising a free online payslip instead of having it on a paper file, there is no need to file and store the payslips that were undelivered or uncollected. This not only means there is more available space within the office, but also that these documents can be accessed 24/7 from any electronic device. Meaning to find an old payslip from five years ago, you don’t have to troll through hundreds of payslip documents.
If an employee can’t collect their payslip, it is returned to the office, which can ultimately be a nuisance and inconvenience. However, with online payslips they are emailed to employees, saving time, labour and money.
Online payslips bring more security
By having payslips on a database, it means the payslips will not be left lying around the office. Meaning other employees won’t be able to read or access this confidential information. Factorial’s payslip feature guarantees the safety of personal data through our powerful encryption system and single access for each user.
The benefits of free online payslips for employees
Instant access to all payslips
Before online payslips, if you could not find a payslip from the past, it would mean having to call up the Payroll department and ask for a copy. This could become cumbersome and time-consuming. However, with online payslips, you have access to all the information then and there. Meaning no trolling through your filed payslips to find that one missing payslip from seven years ago.
Access from mobile devices
If your company has invested in a HR payroll software which is mobile friendly, (which Factorial is- just saying…) staff can access their payslip whenever and wherever they want. This is useful for those that may not work in the office and may not have access to a laptop or computer. Making employees’ lives that bit easier. Additionally, if your HR software company also has an app (and before you ask, Factorial does) then it means employees can access their payslips from any device. Be it mobile, laptop, ipad, ipod, tablet, desktop… you get the gist.
Employees don’t have to wait to receive their payslips anymore. The delivery of your payslip won’t be affected by the postal service running slow, or whether you’re away when it gets sent out so won’t be able to access it until you get back. A speedy delivery can be guaranteed.
This payslip template UK version includes all the information you need in a template, and from this, you can create your template quickly and easily.
Factorial’s payroll feature
Factorial’s payroll feature ensures that all your companies payroll information is always up to date, and that you have access to all payroll data in one place. This means that if you need to make modifications, it immediately updates it on the system. Additionally, you can download the payroll summary in Excel format. As well as being able to share payroll variations with your payroll manager. Payroll managers can also track changes in employees’ payroll by generating personalised reports. We also provide a digital document signing feature. Lastly, we guarantee your data will be safe with us. This is down to our encryption system and single access for each user.