To many employees, holidays are the best days to go on duty because they receive higher pay. In exchange of their time rendered for the company for holiday and double time, they definitely expect bigger cash. As an employer, you should know that there is a way on how you can handle all of the double pays and holiday pays. Processing all of your employees pay can be done in no time by following some steps.
Read more here and you will know the steps that we are talking about in order for your company to flourish.
1. Be Familiar with the Law
According to the law, there are some holidays that you do not have to pay for a special rate. Informing your employees about it beforehand will help you avoid any pay disputes.
2. Differentiate Double Time and Holiday Hours
You should put in mind that holiday pay and double time are different from each other. You should be able to think about this even before your business functioned to avoid confusion.
3. Paying Fairly
Before anything else, you must know if an employee is working part time or full time. Part timers can receive bonuses from you. Full timers receive more benefits, such as having paid vacations. The payroll must explain everything in detail to avoid confusion.
4. Adding Up Wages in the Right Way
Once you have mentioned that a certain holiday will give them a special rate, put in mind that you have to reflect it on their wages. You can avoid having mass resignation if you will take good care of your employees.
5. The Calculation of their Double Time
If they will inform you that they have double-timed duties, these should be reflected on their records. Nothing could go wrong if you follow what is recorded.
6. Creating the Best Pay Stubs through an Outstanding Software
It is very easy to make pay stubs nowadays with the use of the latest technology. With the use of your computer, you can have a software that can automatically create pay stubs for each employee. It is also the perfect tool in keeping records with backups. Calculation errors are also eliminated.
Your employees are important assets in your company, which is why it is a must that you should take good care of them. They spend hours in your company, so they have to be paid well. Having a good software in calculating their hours of work will surely be of great advantage.
Check this link to get a preview of the software that will calculate your employees’ wage correctly. Your employees would love to work for your company when they know you have a good system.