If you had to venture a guess, how much time do you estimate the average American spends on their smartphone a day?

Drum roll, please...

The answer, according to Salesforce's 2014 Mobile Behavior Report, is 3.3 hours a day. It hardly comes as a surprise, then, to learn that 85 percent of Americans believe mobile devices are a central part of everyday life. This report reinforces what we've known for a long time: smartphones are the way of the future.

While we know smartphones have transformed the way people communicate, it's also shaping the way they bank, manage their finances and make payments. A study by the Board of Governors of the Federal Reserve System found that 39 percent of all mobile phone owners with a bank account used mobile banking in 2014, up from 33 percent in 2013 and 15 percent in 2012. People are increasingly seeing their phones as way of interacting with their financial institutions and appreciate mobile banking because of the convenience and flexibility it allows.

For employers, it's important to tap into the mobile payroll trend and develop a strategy for delivering wages, including creating an app that allows your employees to track their paycheck on their smartphones, manage funds, make withdrawals and pay bills. This approach will give employees 24/7 access to their wages, and be especially helpful in reaching unbanked or under-banked workers. The same Federal Reserve study found that 73 percent of this population has a smartphone, so by going mobile, you're empowering these employees to take control of their finances and manage their money.

A mobile payroll approach can pay off for employers, too, as you may be able to streamline wage payment management and reduce the administrative and operational costs of having to distribute and write paper checks. Talk about a win-win!

The information provided in this blog post is for informational purposes only and not for the purpose of providing accounting, legal, or tax advice. The information and services ADP provides should not be deemed a substitute for the advice of any such professional. Such information is by nature subject to revision and may not be the most current information available.

Tags: Mobile payroll