Getting OT here but my experience managing a SW company was that direct deposit EASILY paid for itself by not having employees running to the bank on payday. Let's say you pay someone $80K/year. That's roughly $40/hour, and roughly $3077 per pay bi-weekly pay period.
30 minute run to the bank: $20 Three days' interest on $3077 at 5% per annum: $1.26 Of course, as Howard suggested, if you don't value your employees, then that run to the bank is free, isn't it? Charles -----Original Message----- From: IBM Mainframe Discussion List [mailto:[EMAIL PROTECTED] On Behalf Of Howard Brazee Sent: Monday, February 19, 2007 10:45 AM To: IBM-MAIN@BAMA.UA.EDU Subject: Re: License keys for ISV products(What alternatives are there? On 19 Feb 2007 10:40:52 -0800, [EMAIL PROTECTED] (Chase, John) wrote: >Indeed, that was the "main" reason cited by a former employer for >refusing to implement "direct deposit" of payroll checks. They budgeted >the projected interest they would earn during the "float" period between >us cashing or depositing our checks, and their bank clearing them. > >Oh, it wasn't a small business, either. It was a governmental entity: >"Oklahoma City Public Schools". When I left there in early 1996, it was >"rumored" that direct deposit of payroll checks was "going to be >reconsidered soon".... That sounds like an effective way of determining how a company values its employees. ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [EMAIL PROTECTED] with the message: GET IBM-MAIN INFO Search the archives at http://bama.ua.edu/archives/ibm-main.html
