Go Green with Employee Paycards
Reducing your company’s carbon footprint is a must in today’s world, but issuing paper checks continues to waste precious resources. Instead of paying employees with checks, consider going green with employee paycards. Here’s a quick summary of why it’s worth considering making the switch:
- Paycards are appealing to the underbanked:Millions of people don’t have a bank account at all, and even more are “underbanked,” or use financial products and services outside of the banking system. Offering payroll via a paycard eliminates the need for a bank account, making it appealing to those in these categories.
- Paycards are cost-effective: An employee who doesn’t have a bank account may have to pay upwards of $5 to cash every check, and this cost can quickly add up. With a paycard, that employee can use the funds immediately instead of having to cash a check.
- Paycards are free to use: At Payroll People, we offer free paycards to our valued clients. They’re free to both employers (who use our services) and employees.
- Paycards can be a retention tool: Knowing what employees want and offering the desired benefits can boost employee retention and morale. Members of the younger generations might quit or not accept a job if the company doesn’t offer the benefits they want, including flexible payment options.
Want to go green by eliminating paper checks? Offer your employees paycards that give them secure access to their money right away. Contact your customer service rep to learn more and get started!
State Employment Law Developments
California employers should be aware of a few key legal developments for workers in the state:
- Increased penalties for non-compliant meal and rest breaks: Make sure proper meal and rest break policies are in place for employees to avoid costly penalties under Labor Code sections 226 and 203.
- Arbitration agreements: A state court refused to enforce an arbitration agreement found in the employee handbook on the basis that “there must be more than a boilerplate arbitration clause buried in a lengthy employee handbook given to new employees.”
- Discrimination against employees who use cannabis: A bill under consideration in the state legislature wouldmake it illegal for an employer to discriminate against employees who use cannabis away from the workplace.
Reminder: CalSavers Deadline is June 30
As mentioned in the last newsletter, CalSavers updated its employee threshold and requires employers to register their businesses by June 30, 2022. Failing to register by the deadline could incur penalties. Click here for more information.
Upcoming Important Dates
June 20 (Observed Juneteenth): Payroll People open/Federal Reserve closed
Non-processing day, allow an extra day for PPI Common and electronic deposit accounts.