“Payroll professionals have the important job of looking out for both their company and its employees. They make sure that people get paid fairly and on time, and in a way that’s as efficient and cost-effective as possible for the company."
Portland, Ore. (PRWEB) September 04, 2012
TFG Card Solutions is celebrating the 16th annual National Payroll Week (NPW) the week of September 3-7 in honor of hard working payroll professionals managing paychecks for America’s 156 million wage earners on pay day. As a way to say thank you to payroll professionals everywhere, TFG has gathered some great tips on how paycards can help both businesses and employees save time and money.
NPW was founded by the American Payroll Association (APA) as a way to celebrate the partnership among American employees, businesses, federal social security and fair labor programs, and the payroll professionals who manage the payment system. Through the payroll system, payroll professionals contribute, collect, report and deposit $1.7 trillion, or about 72 percent, of the U.S. Treasury’s annual revenue.
“Payroll professionals have the important job of looking out for both their company and its employees,” said Tom Secor, President at TFG Card Solutions. “They make sure that people get paid fairly and on time, and in a way that’s as efficient and cost-effective as possible for the company.”
Issuing paper checks is unnecessary and costly to everyone involved. Most U.S. companies spend between $200.00 and $250.00 per employee every year on the printing and distribution of traditional paper checks. A company of 1,000 employees could spend as much as $15,400 annually just to print and distribute paychecks.
Although paper checks have been a long-time standard for many companies, TFG is one of few companies offering a better solution with payroll debit cards. Paycards have a long list of benefits for both businesses and employees. Here are just a few of them:
- Curb Costs – Stop check delivery fees, minimize stop payment exposure and eliminate check fraud or escheatment liability.
- Stay Competitive – Increase employee productivity by reducing employee time spent leaving early to cash checks and/or talking to HR or payroll about payroll issues.
- Maximize Employee Pay – Issuing an employee a paper check leaves the employee no choice but to spend money to access their money.
- Protect Funds – Easily replace lost or stolen cards, with zero liability for disputed transactions. Payroll cards also eliminate the check verification and reconciliation process for employers.
- Go Green - Each year, paper checks use more than 675 million gallons of fuel and add more than 3.6 million tons of CO2 to the atmosphere. Paycards can drastically reduce company carbon footprints.
Visit the National Payroll Week website for updates and more tips on paycheck management, as well as the chance to win APA education credits or a free trip to Las Vegas through various online promotions. TFG Card Solutions will be sharing fun facts about National Payroll week all week long across Facebook, Twitter, LinkedIn and Google+ and on its Resource Blog.
About TFG Card Solutions, Inc.
TFG offers https://www.tfgcard.com/index.php/pages/employers free payroll debit card solutions that help businesses of all sizes increase direct deposit participation, maximizing their current direct deposit system and empowering unbanked employees. Payroll debit cards save both the business and its employees money every single pay period. For more information, visit http://www.tfgcard.com.