Payroll period
Workforce Management Glossary
Payroll period
What is the definition of a payroll period?
The term payroll period refers to the days in which an employee is essentially tracked and paid. Different from the working week the payroll period can be weekly fortnightly semi-monthly and monthly. Put simply the payroll period is how often employees receive their pay.
How do businesses pick their payroll periods?
Payroll periods are different for every company regardless of the industry they are in. This is because the payroll period is often dependent upon highly individualised factors such as cash flow.
For example a new business may not be able to meet the demands of a weekly or even fortnightly pay period because they will need to outlay several times a month which might not be possible in the early stages of operations.
How can businesses choose and facilitate a set payroll period?
Business owners and managers need access to analytics across various facets of the organisation in order to make informed decisions. With Roubler’s workforce management and payroll software businesses also have access to tools such as HR analytics and business intelligence software.
Offering real-time insights into business proceedings comprehensive information is easily accessible providing the data that businesses need in order to make decisions today and projections for the future.