Semi-monthly pay
Workforce Management Glossary
Semi-monthly pay
What is semi-monthly pay?
Semi-monthly pay is a payroll cycle where employees are paid twice a month. Usually these dates are fixed such as the 15th of the month and the last day of the month. Where the 15th or the last day of the month falls on a Saturday pay will be deposited on the Friday. If the last day of the month is a Sunday pay will go into employee’s accounts on the Monday.
What are the advantages of semi-monthly pay?
Businesses implement a semi-monthly payroll cycle largely because of the associated benefits. In terms of employees having set dates of the month to expect pay can often result in better financial planning.
In relation to the payroll department these set days work to make administration easier when it comes to factoring in things like the overtime policy any sick leave or PTO taken as well as if a double shift or split shift has been worked. With a clear cycle to encompass the payroll department can better ensure that employees are paid accurately.
How can organisations effectively manage semi-monthly pay
Each payroll cycle must correctly take into account how many hours were worked what leave was taken and therefore what loading applies for each and every employee in an organisation.
With a lot of documentation to go through businesses can reduce mistakes and increase efficiencies by implementing an online cloud payroll software system. Roubler’s all-in-one workforce management system stores all data centrally so that payroll can be quickly and accurately processed semi-monthly.