![]() This is because there’s a good chance they’re used to this pay frequency and will find it easier to transition.īest for: Small businesses that frequently hire new hourly and salaried employees If you hire a lot of new employees on a regular basis, a biweekly schedule might be your best bet. In fact, in the U.S., the Bureau of Labor Statistics states that 43% of businesses use a biweekly pay schedule. This is the most commonly used option because it can keep most workers happy without an excessive amount of admin work. Most employers who follow this payroll calendar distribute paychecks every other Friday. You might not be able to or want this level of frequency.ĭownload Weekly Payroll Calendar Template PDF BiweeklyĪ biweekly pay schedule is when you pay your employees every two weeks, or 26 pay periods per year. Significant time commitment: It can take a lot of time to run payroll four or more times per month.Also, if you send paper checks, your mailing costs will go up. Some payroll services place a cap on how often you can run payroll without additional fees. Higher payroll costs: You might have to spend more money on your payroll processing.You’ll find it much easier to do so when you track overtime on a weekly basis. Easier to calculate overtime: If you have employees who work overtime, you’ll need to pay them time and a half for their overtime hours, per the Fair Labor Standards Act (FLSA).If you have lower-wage workers or those with irregular schedules, this is a huge plus. Greater cash flow for employees: A weekly payroll calendar gives your employees access to their wages fairly quickly.
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