He that leaveth nothing to chance will do few things ill, but he will do very few things. George Savile, Marquess of Halifax, 1633 – 1695
It’s springtime in the Rockies…again. Snow, sunshine, wind, rain, then repeat. We seem to get all four seasons packed into one day.
It’s also a Friday and Fridays make me think of payday. While our clients pay each day of the week, Fridays is payday for more than half of our clients. If you don’t offer direct deposit to your employees, you are costing yourself some inconvenience both for yourself and your employees.
As an employer, there is no check to reconcile with the bank with a direct deposit and no outstanding check to track down. Many employees expect direct deposit when they start a new job – it’s assumed and certainly not brought up in a job interview. They are very surprised when they find out their pay comes to them in a check – an unpleasant surprise. This means a trip to the bank (and a line if they wish to make that deposit on Friday). The bank will frequently put a one day hold on a paycheck versus no hold on a direct deposit. I know my wish list doesn’t include unnecessary travel to anywhere including the bank teller line.
Do yourself a favor – provide direct deposit as the default option for how your employees receive their paycheck. It’s easier for you and it’s easier for the employee.
Happy Fridays,
Bryan Dear
