Fortnightly pay
Workforce Management Glossary
Fortnightly pay
What is fortnightly pay?
Fortnightly pay which is also referred to as bi-weekly pay is a payroll system where employees are paid every two weeks. With a fortnightly payroll cycle there will be 26 pay periods in total per year.
Why do organisations implement a fortnightly pay cycle?
When it comes to fortnightly pay there are operational and personnel benefits to consider. In terms of employees having pay deposited bi-weekly is often preferred to monthly cycles. This could have the benefits of enticing employees to your organisation and improving morale which in turn helps to decrease employee turnover rates.
In relation to operational benefits a fortnightly pay cycle helps to ensure a measured yet also efficient and effective approach to payroll. By utilising the payroll department in this way pay isn’t distributed once a week which can be a constant drain on resources. Instead resources can be optimised and unnecessary administrative practices can be avoided.
How can a business manage fortnightly pay?
The payroll department has to consider a lot of different facets in order to distribute pay to each and every employee that is accurate. For example any sick leave PTO and overtime must be reflected in the payment.
Roubler’s all-in-one workforce management system ensures seamless and simplified payroll processing. Designed to feature an intuitive system that automatically draws in attendance and leave data to processing methods fast and accurate payroll can be assured every fortnight.