Many organizations pay their employees on a bi-weekly basis and one of the most common paydays is Friday. Since January 1, 2021, is a bank holiday and falls on a Friday, we asked organizations in our last edition of Inside HR how they are handling payroll (assuming a bi-weekly payroll).
For those affected, the majority of respondents indicated they are adjusting their process so employees will receive wages before the holiday, resulting in an extra paycheck in calendar year 2020.
Other responses indicated that they will process wages as normal, and either employees will be notified that wages will be posted the next business day, or the bank will automatically process the deposit the previous day.
Any changes to payroll dates should be communicated to employees as far in advance as possible. When adjusting payroll due to a holiday, most employees appear to receive wages the day prior to the holiday.
Thank you to everyone who participated in our poll!
Source: MRA - The Management Association