Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
April 22, 2009
Direct Deposit: Good for Your Bottom Line and the Environment
How many payroll practices not only save money but help save the environment too? A new study finds that switching to direct deposit can result in significant savings for employers and have a momentous, positive impact on the environment.

Announced during Earth Month (April) and with Direct Deposit Month (May) approaching, PayitGreen, a coalition of financial services companies, provided detailed statistics about the benefits of direct deposit in their study. From a historical perspective, PayitGreen explained that direct deposit has saved U.S. businesses a total of $6.7 billion over the past 10 years—or $605 million per year.

They also broke down the financial and environmental impact of switching one U.S. employee to direct deposit: A business could save $176.55 per year on just one employee, while saving one pound of paper, and eliminating the release of four gallons of wastewater and one pound of greenhouse gasses.

PayitGreen then calculated the annual environmental impact if every U.S. employee with access to direct deposit (which they estimated at 122.5 million) used it. Aside from saving over 11 million pounds of paper and over 4 million gallons of gas, such a scenario would avoid the release of 31,581,675 pounds of greenhouse gasses into the atmosphere, which is equivalent to over 112 million miles not driven, 1.3 million trees planted (and grown for 10 years)and nearly 14 million square feet of forest preserved.

But back to your bottom line--how can you find out what your specific payroll savings would be if your employees used direct deposit? You can find out by using what PayitGreen calls the “first-ever Direct Deposit Cost Calculator.” To access the calculator, go to and click the “Business” tab on top of the page.

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!
Featured Free Resource:
Cost Per Hire Calculator
Twitter  Facebook  Linked In
Follow Us
Copyright © 2017 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on
Document URL: