Royal Mail has increased the cost of postage from April 2023 to £1.10 for a First Class stamp and 75p for a Second Class stamp. 500 employees cost £15,000 per annum in paper, printing, packing and postage of payslips, P60s, P11Ds, P45s.
The price of a First Class stamp is £1.10 and the price of a Second Class stamp is 75p, from April, 2023. With the cost of an envelope / payslip stationery, printing, and administration, we estimate the costs of producing and sending a payslip could be as much as £2.50, per payslip. Organisations that are posting payslips would see an immediate cost saving of 80% from moving this process online.
For an organisation with 500 employees this could cost £15,000 per annum to send payslips. With the added cost of workers requesting copy payslips and other sending other pay documents such as P60, P11d and P45, this can be a significant cost to the business.
360 Payslips is an online self-service web portal for Pay Document. Workers are invited to complete a registration process and then have secure access to their pay document history. They can access the system 24/7 and download their documents to store them offline, if required. Email or SMS notifications notify the worker when new documents are available to view / download.
How does it work?
The files that you would normally send to the printer are securely transferred to 360 Payslips. They are validated and imported to your portal which is branded to look like your website. The process is quick and results in your staff getting their pay documents sooner than they would by post.
- You send us a copy of your file
- We brand your Payslip Portal
- Portal invites staff to register
- Trial run for 4 weeks
- Stop printing paper payslips
Request a free trial
If you would like to discuss the features of 360 Payslips a how it might benefit your organisation then please get in contact.
