Company Payroll Store: A New Employee Benefit
The Company Payroll Store (CPS) is a private payroll shopping service which gives employees the opportunity to purchase home, fashion and personal items and pay for their purchases over time using payroll deductions.
CPS sets up private shopping site and works with payroll processor to manage data feeds
Employer provides their employee list and sets spending and deduction guidelines
A communication goes out to all employees, CPS manages all ongoing site marketing and promotion
Employees register and once their information is validated, they can begin shopping the site
|1.||Your employer signs up for program|
|2.||A private corporate branded shopping site is created for employees to shop securely|
|3.||Employees can then register and are given a spend allowance which represents the limits for payroll deductions (based on the company’s guidelines)|
|4.||Promotions and weekly specials are communicated to employees through email or company intranet|
|5.||Employees shop and order merchandise online and can have items shipped to any location|
|6.||Orders are processed & shipped and payroll deductions (payments) begin on your next pay period|
|7.||Deductions periods vary and are set by each company’s guidelines. Typical payback periods range from 6 - 12 weeks.|
The difference between the Company Payroll Store (CPS)site and other internet shopping services – is CPS provides a branded site specific for your employer and payments that are processed using payroll deductions tied to your company’s payroll.
When you log on to the corporate site a spend allowance will always display at the top of the page. It will reflect the available spend amount based on corporate guidelines minus any open purchases.
- Employees shop top brand names and private label items
- Create “wish lists” and add then add items to a cart
Employees can easily purchase items up to their approved limit and have these shipped to their home or office. Confirmation emails and a dedicated customer support line are provided to help answer customer questions.
- A payment deduction amount and the number of payroll deductions is displayed and provided.
- Orders are processed immediately for shipment, or in certain cases for Federal based agencies, once the deduction Allotment is approved.
- Items can be shipped to any location.
- If you are unsatisfied with a purchase it can be returned for a full refund within 30 days (some limitations apply).