Square Payroll Introduces Benefits Offerings for Small Businesses and Their Employees
15 11월 2018 - 2:00AM
Business Wire
Follows recent launch of Square Payroll App and
nationwide availability of Square Payroll
Square, Inc. (NYSE: SQ) today launched employee benefit
offerings within Square Payroll, providing small businesses who use
Square Payroll access to quality, affordable benefits like health
insurance and retirement savings. Benefits are flexible,
easy-to-use, and seamlessly integrate with the rest of Square
Payroll, removing the administrative complexity businesses
typically face with offering benefits. In addition to providing
businesses a new tool that can attract and retain world class
talent, certain employee benefits can even save businesses money by
reducing their payroll tax burden, at no out of pocket cost.
“With today’s launch, Square Payroll is giving small businesses
access to ‘big company’ benefits,” said Caroline Hollis, Head of
Square Payroll. “We’re empowering businesses to provide their
employees a comprehensive set of benefits and the financial
security that comes with having them.”
Benefits available through Square Payroll include health
insurance, retirement savings, pre-tax spending, and workers’
compensation. To provide these benefits to businesses and their
employees, Square Payroll partnered with innovative,
technology-focused partners including SimplyInsured, Guideline
401(k), Alice, and AP Intego Insurance Group that offer high
quality products at affordable prices. Through Square Payroll, any
business owner can select the specific benefits that fit their
business and their budget -- whether that’s one or all of the
available options. After completing a one-time benefits enrollment,
there’s no extra work as benefits automatically sync with Square
Payroll to ensure employee deductions and business contributions
are always accurate.
“With Square Payroll we are able to simply and affordably
provide employees with the benefits they need and reduce
administrative time in the process,” said Shatisha M. Wilson, LPC,
RPT, the owner of Wilson’s Garden of Hope, a play therapy &
counseling center in Augusta, Georgia that serves active duty,
retired, and reserve members of the military and their families.
“Options we looked at before had employee minimums that prevented
us from qualifying, but with Square Payroll the benefit plans are
designed to meet the needs of businesses my size.”
Offering benefits can dramatically improve the overall
employment experience a seller offers its employees. According to
the Employee Benefit Research Institute, 83% of employees said that
health insurance was very important or extremely important when
deciding to choose or stay at a job, and 73% said the same about
retirement benefits1. In a recent survey, Square Payroll employers
selected benefits as the top product request with 42% of
respondents wanting to purchase benefits policies.
Square Payroll is an elegant, all-in-one service for small
businesses looking to run payroll quickly and efficiently. Earlier
this month, Square Payroll became available nationwide. Square
Payroll also introduced the Square Payroll App for employers and
Square Payroll Team App for employees this fall, providing greater
access to core payroll features including automatic payroll tax
calculations, payments and filings, and payroll support for W-2
employees and 1099 contractors.
Employers can access all payroll information, including benefits
enrollments and contributions, from the Square Dashboard, which
provides an up-to-date view of all employee information in one
place. More information about Square Payroll can be found at
squareup.com/payroll.
About Square, Inc.
Square, Inc. (NYSE:SQ) creates tools that help sellers start,
run, and grow their businesses. Square enables sellers to accept
card payments and also provides reporting and analytics, next-day
settlement, and chargeback protection. Square’s point-of-sale
software and other business services help sellers manage inventory,
locations, and employees; access financing; engage buyers; build a
website or online store; and grow sales. The Cash App is an easy
way to send, spend, and receive money, and Caviar is a
food-ordering platform. Square was founded in 2009 and is
headquartered in San Francisco, with offices in the United States,
Canada, Japan, Australia, Ireland, and the UK.
1 Employee Benefit Research Institute; The State of Employee
Benefits: Findings from the 2017 Health and Workplace Benefits
Survey, April 10, 2018.
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Square, Inc.Media contact:press@squareup.com
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