{"id":17694,"date":"2021-04-21T10:28:57","date_gmt":"2021-04-21T14:28:57","guid":{"rendered":"https:\/\/www.dailypay.com\/?p=17694"},"modified":"2022-01-25T15:45:50","modified_gmt":"2022-01-25T20:45:50","slug":"direct-deposit-better-for-environment","status":"publish","type":"post","link":"https:\/\/www.dailypay.com\/resource-center\/blog\/direct-deposit-better-for-environment\/","title":{"rendered":"Direct Deposit: Why It\u2019s Better For Your Company And The Environment"},"content":{"rendered":"\n<p>Paper checks. While these little slips of paper can make anyone\u2019s day better, they are lots of work for payroll employees and costly for your company as a whole. But there\u2019s another problem with paper checks \u2014 they\u2019re wasteful and bad for the environment.<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-dailypay-heading undefined\" data-version=\"1f68\"><h2 class=\"heading color_blue \"><strong>Why is direct deposit better for your bottom line than paper checks?<\/strong><\/h2><\/div>\n\n\n\n<p>Business owners save about <a href=\"https:\/\/www.business.com\/articles\/direct-deposit-services-small-business\/#:~:text=More%20than%2090%25%20of%20American,independent%20contractors%20using%20direct%20deposit.\" target=\"_blank\" rel=\"noreferrer noopener\">$3 per check when using direct deposit<\/a>. Here are a few ways it helps you save:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Save money on supplies \u2014 with direct deposit there is no longer a need to buy paper checks, postage, envelopes, etc.<\/li><li>Avoid payroll fraud \u2014 payroll check fraud is much easier to avoid with direct deposit<\/li><\/ul>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-dailypay-heading undefined\" data-version=\"1f68\"><h2 class=\"heading color_blue \"><strong>How does direct deposit help your payroll team?&nbsp;<\/strong><\/h2><\/div>\n\n\n\n<p>Your payroll team works hard and direct deposit is easier for many reasons including:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Less work for your payroll team \u2014 with direct deposit your payroll team will spend less time processing paychecks.<\/li><li><a href=\"https:\/\/www.paychex.com\/articles\/payroll-taxes\/benefits-of-direct-deposit-to-employees-and-employers#:~:text=With%20no%20paper%20check%2C%20direct,flexibility%20and%20convenience%20for%20employees.\" target=\"_blank\" rel=\"noreferrer noopener\">Lost or stolen checks aren\u2019t a problem<\/a> \u2014 since there are no paper checks with direct deposit, the risk of losing a check is eliminated on both the employer side and the employee side. There also is no risk of the check being damaged in the mail.<\/li><li>Deposit checks from home \u2014 direct deposit can be processed and received anytime from anywhere, something that is important for remote employees who process payroll.<\/li><\/ul>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-dailypay-heading undefined\" data-version=\"1f68\"><h2 class=\"heading color_blue \"><strong>Why is direct deposit better for the environment?<\/strong><\/h2><\/div>\n\n\n\n<p>Direct deposit is much more sustainable than paper checks. <a href=\"https:\/\/paperontherocks.com\/2018\/11\/28\/environmental-impact-of-deforestation\/\" target=\"_blank\" rel=\"noreferrer noopener\">410 million acres of trees are cut down every year around the world for the use of paper<\/a>. When this many trees are cut down, it not only reduces the oxygen trees produce that we need to breathe, but it eliminates entire ecosystems and reduces biodiversity.&nbsp;<\/p>\n\n\n\n<p>However, trees are not the only thing needed to produce paper checks, they also need ink to create them and fuel to deliver them.&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.huffpost.com\/entry\/going-paperless-the-hidde_b_3008587\" target=\"_blank\" rel=\"noreferrer noopener\">Every year in the U.S., paper checks<\/a> require:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>10 million trees<\/li><li>250 gallons of oil<\/li><li>1 billion gallons of water<\/li><\/ul>\n\n\n\n<p>Americans are looking for companies that value sustainability. When it comes to recruitment, <a href=\"https:\/\/solarbuildermag.com\/news\/survey-employees-more-likely-to-work-for-company-with-sustainability-programs\/#:~:text=over%2070%25%20of%20people%20surveyed,environmentally%20and%20socially%20responsible%20company.&amp;text=Over%203%25%20would%20even%20be,of%20over%20%2410%2C000%20per%20year.\" target=\"_blank\" rel=\"noreferrer noopener\">this article by Solar Builder<\/a> states that:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>70% of people are more likely to choose to work for a company with a green footprint<\/li><li>More than 10% would accept a salary that is $5,000 to $10,000 lower if the company values sustainability<\/li><li>More than 3% would even accept a salary decrease of $10,000<\/li><\/ul>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-dailypay-heading undefined\" data-version=\"1f68\"><h2 class=\"heading color_blue \"><strong>How can you increase your direct deposit enrollment?<\/strong><\/h2><\/div>\n\n\n\n<p>For most companies, direct deposit isn\u2019t mandatory, but it is highly recommended. There are multiple ways to increase your employees\u2019 desire to enroll in direct deposit. Some of the ways you can increase your direct deposit enrollees include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Hosting an event about direct deposit \u2014 for employees who are skeptical about direct deposit, hearing why it is important directly from an HR or payroll professional could make a huge difference.<\/li><li>Speak with managers \u2014 larger companies with multiple levels of management may make it harder to pass along information. Asking lower-level managers to speak directly with their reportees about direct deposit may help to encourage them to make the switch.<\/li><li>Provide benefits that require direct deposit \u2014 there are many benefits out there that require employees to have direct deposit. For example, an <a href=\"http:\/\/dailypay.com\" target=\"_blank\" rel=\"noreferrer noopener\">on-demand pay benefit<\/a>, also known as an earned wage access benefit, can be a benefit to your company that requires direct deposit for employees to utilize it.&nbsp;<\/li><\/ul>\n\n\n\n<p>Increasing your direct deposit enrollment is an important step to improve your bottom line and your sustainability efforts. Providing a benefit, like earned wage access, which requires direct deposit, is an easy way to improve direct-deposit enrollment.&nbsp;<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>To learn more about how an on-demand pay benefit could help your company, take a look at <a href=\"https:\/\/www.dailypay.com\/blog\/what-is-earned-wage-access\/\" target=\"_blank\" rel=\"noreferrer noopener\">this blog<\/a>.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-dailypay-heading undefined\" data-version=\"1f68\"><h3 class=\"heading color_green \">Looking for a way to increase direct deposit enrollment?<\/h3><\/div>\n\n\n\n<span class=\"wp-block-dailypay-btn\" data-version=\"e71b\"><a class=\"btn btn-primary \" href=\"https:\/\/www.dailypay.com\/demo\/\" target=\"_blank\" rel=\"noopener\"><strong>GET A NO-OBLIGATION DEMO<\/strong><\/a><\/span>\n","protected":false},"excerpt":{"rendered":"<p>Paper checks. While these little slips of paper can make anyone\u2019s day better, they are lots of work for payroll employees and costly for your company as a whole. But there\u2019s another problem with paper checks \u2014 they\u2019re wasteful and bad for the environment. Business owners save about $3 per check when using direct deposit.<a class=\"read-more\" href=\"https:\/\/www.dailypay.com\/resource-center\/blog\/direct-deposit-better-for-environment\/\">Read More<\/a><\/p>\n","protected":false},"author":32,"featured_media":17695,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[147],"tags":[618,613,60],"class_list":["post-17694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-benefits","tag-hr","tag-payroll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Direct Deposit vs Paper Checks - DailyPay<\/title>\n<meta name=\"description\" content=\"Paper checks. While these little slips of paper take their time to arrive in mail. But there\u2019s another problem with paper checks \u2014 they\u2019re wasteful and bad for the environment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailypay.com\/resource-center\/blog\/direct-deposit-better-for-environment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Direct Deposit: Why It\u2019s Better For Your Company And The Environment\" \/>\n<meta property=\"og:description\" content=\"Paper checks. While these little slips of paper take their time to arrive in mail. But there\u2019s another problem with paper checks \u2014 they\u2019re wasteful and bad for the environment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailypay.com\/resource-center\/blog\/direct-deposit-better-for-environment\/\" \/>\n<meta property=\"og:site_name\" content=\"DailyPay\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/dailypay\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/trydailypay\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-21T14:28:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-25T20:45:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailypay.com\/wp-content\/uploads\/direct-deposit-sustainability-environment.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"DailyPay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@dailypay\" \/>\n<meta name=\"twitter:site\" content=\"@dailypay\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"DailyPay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Direct Deposit vs Paper Checks - DailyPay","description":"Paper checks. 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