Payroll Solution: Getting Paid in America

By:  Mark Ward | Payroll Experts, Inc

 

Hello!  As payroll geeks, we are members of the national payroll association.  We are constantly flooded with information and could spend entire weeks reading/learning about the ever changing face of payroll.  Don’t worry, we won’t bore you with tons of payroll info; we will just continue to keep you compliant J!  However, we thought you’d enjoy the results of a national survey about Getting Paid In America.  This survey was done by the National Payroll Association.

 

Getting Paid In America Survey Results

 

According to the IRS, the average tax refund in 2012 was $2,803. Do you prefer getting a large tax

refund at the end of the year or would you rather have the refund as an extra $107* in each paycheck

throughout the year?*Calculation based on biweekly payroll.

Large tax refund….. 16,012….. 48.8186%

More money each paycheck….. 15,597….. 47.5533%

Didn’t know I had an option….. 1,190….. 3.6282%

Total 32,799 100%

 

Why do you prefer a large tax refund over getting paid more money in each paycheck?

I can use it to make a big purchase (more than $200)….. 3,959….. 24.7036%

I can use it to pay down/off credit card or other debt….. 4,452….. 27.7799%

I can use it to boost my retirement savings….. 614….. 3.8313%

I can use it for a vacation….. 3,216….. 20.0674%

I can use it to boost my emergency savings….. 3,139….. 19.5869%

Not sure….. 646….. 4.0309%

Total 16,026 100%

 

What’s more important to you, better health benefits or higher wages?

Better health benefits….. 14,506….. 44.227%

Higher wages….. 18,293….. 55.773%

Total 32,799 100%

 

How difficult would it be to meet your current financial obligations if your next paycheck were

delayed for a week?

Very difficult….. 10,343….. 31.5345%

Somewhat difficult….. 11,466….. 34.9584%

Not very difficult….. 6,348….. 19.3542%

Not at all difficult….. 4,558….. 13.8968%

Don’t know….. 84….. 0.2561%

Total 32,799 100%

 

How do you receive your pay? (Remember, Payroll Experts can provide payroll cards for your employees)

Direct deposit….. 31,580….. 96.2834%

Payroll card….. 143….. 0.436%

Prepaid reloadable card….. 59….. 0.1799%

Paper paycheck….. 925….. 2.8202%

Other method….. 92….. 0.2085%

Total 32,799 100%

 

 

How would you feel if your company paid you by depositing your payment to a “payroll card” (a

card that acts like a debit card) instead of paying you with a paper check or prepaid reloadable card?

Would like it….. 183….. 17.6641%

Inconvenienced/unhappy….. 607….. 58.5907%

Wouldn’t matter….. 246….. 23.7452%

Total 1,036 100%

 

Does your employer provide an employee selfservice portal, where you can access your pay and

benefits information online? (Remember, to watch Payroll Experts Employee Self Service demo video)

Yes….. 27,135….. 82.7312%

No….. 5,664….. 17.2688%

Total 32,799 100%

 

How do you prefer to access your employee selfservice portal?

Desktop computer….. 15,675….. 57.7795%

Laptop computer….. 8,918….. 32.8726%

Tablet computer….. 612….. 2.2559%

Smart phone….. 1,578….. 5.8167%

Telephone….. 71….. 0.2617%

Kiosk at work….. 166….. 0.6119%

Other….. 109….. 0.4018%

Total 27,129 100%

 

Are you notified by an alert on your smart phone or tablet when your pay is made available to

you?  (Remember, this is a possibility – let Payroll Experts know if your employees would benefit from this)

Yes….. 4,216….. 26.3615%

No….. 11,777….. 73.6385%

Total 15,993 100%

 

Have you ever deposited your paycheck or any other check by scanning it with your smart phone or

tablet?

Yes….. 5,419….. 16.5218%

No….. 27,380….. 83.4782%

Total 32,799 100%

 

Beginning this year, contributions to all medical Flexible Spending Accounts (FSAs) will be limited to

$2,500 per year. Is this a large enough amount to meet your family’s needs?

Yes….. 11,151….. 33.998%

No….. 6,356….. 19.3786%

Don’t participate in an FSA….. 14,029….. 42.7726%

Don’t know….. 1,263 3.8507

Total 32,799 100%

 

How do you receive your annual Form W2, Wage and Tax Statement? (Remember, Payroll Experts can provide W-2’s both ways)

Paper W‐2 only….. 12,087 ….. 36.8517%

Electronic W‐2 only….. 8,363….. 25.4977%

Paper and Electronic W‐2….. 12,349….. 37.6505%

Total 32,799 100%

 

How do you input the hours you work at your place of employment? (Remember, Payroll Experts has many new time keeping solutions)

Badge/card reader….. 3,800….. 11.5857%

Biometric scan….. 1,427….. 4.3507%

Telephone….. 362….. 1.1037%

PDA….. 89….. 0.2713%

PC….. 8,851….. 26.9856%

Smart phone….. 271….. 0.8262%

Web….. 8,122….. 24.763%

Custom/Other….. 9,877….. 30.1137%

Total 32,799 100%

 

I thought you might find this information interesting.  It gives you a good picture of what your employees may be thinking.  Remember, we exist to simplify your payroll process and have many solutions to employer and employee needs.  Thank you for giving us the opportunity to work with you and your businesses.

 

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