It depends on the nature of your business but it is generally an essential requirement for small business handlers these days. As your business grows from year to year, you find yourself having to employ more workers, not too many, just enough to ensure that your business is allowed to be run efficiently and cost-effectively. During peak season months, you also find it necessary to hire temporary workers or so-called casual laborers.
And permanent or sub-contracted or temporary, all these workers need to be paid safely, securely and on time. They have households and bills to take care of. Many of you are paying your workers on a weekly basis. But as the business grows and the staff turnover grows in accordance, you are also taking on additional tasks that are taking you away from other elements of your business. It is a challenge to handle large amounts of cash on your premises as always.
A larger amount of cash is kept on your premises on paydays. The security risk grows. You do not wish for this and neither do you need it. Your staff certainly don’t either. A best business practice for you right now to help you pay your workers on time, safely and securely, would be to contract in the essential and available payroll services for small business. It can be handled manually on your behalf but generally this will continue to be ill-advised.
The service becomes software based and electronic transfers of cash can be safely and efficiently managed from your business account to those of your waiting staff. While cash will always be king, it is not a good idea to carry a lot with you, certainly not on this scale.