This can affect the final cost of the service depending on the payroll cycle that you choose. This can be a great perk for those that like getting paid often as opposed to waiting a whole month before receiving their next paycheck. The more frequently you receive your paycheck, the more frequently you can get your finances in order. In The Cambridge Dictionary and The Oxford Dictionary, “biweekly” is the correct variation. It has a definition that states it as a noun and adjective when it is written as one word. For example, the term bi-monthly is generally used to describe something that happens every two months.
- This makes for 26 paychecks yearly and 27 paychecks in a leap year.
- If you have decided on a biweekly pay schedule for your employees, it means that you will give them paychecks once every two weeks, on a dedicated day.
- If you choose to go with the biweekly pay periods, here is how it works.
- As a busy business owner, do you really have the time to manually calculate employee payroll?
- Employees who only work every other week might find that their hours are not worth as much as those who work weekly.
Employees need to be more conscious that they will only get paid every other week instead of once a month. While it’s still possible to manage expenses with biweekly pay, it’s more work than with traditional weekly pay. The biweekly pay system means that the boss will submit a total of 26 paychecks per year. However, just like the word biweekly, a common misconception is that bimonthly is used to describe something that happens twice a month. While it may be technically less correct than the word semimonthly, it’s still something to keep your eyes out for. Biweekly pay means that you are paid every two weeks for the hours worked within the two week pay period you are being paid for.
Biweekly pay translates to 26 paychecks per year versus 12 paychecks on a monthly pay schedule. The employee will see that their biweekly pay has been calculated as a normal paycheck. However, since their paycheck is actually half of their monthly salary, the employee will simply receive this total 26 times over the course of the year. In fact, in the U.S., the Bureau of Labor Statistics states that 43% of businesses use a biweekly pay schedule.
The Meaning of Employee Relations
They believe that “bi” and “weekly” can work as independent words, but the hyphen helps to modify their definitions. Let’s go over how to spell “biweekly” when using it in our writing. Some people get stumped as to whether it’s one or two words. It might even work as a hyphenated form, so this article will look into the answer for you.
- You’ll save time and money without disappointing your workforce as many of them are used to waiting at least 30 days to get paid.
- We mean “sorry” in the sense that we feel a kind of sorrow aroused by circumstances beyond our control or power to repair.
- This is found by taking the total number of weeks per year, 52, and dividing it by 2.
- Kevin Miller is a growth marketer with an extensive background in Search Engine Optimization, paid acquisition and email marketing.
- In addition, depending on where you’re located and who you hire, you may be legally required to pay your workers more than once per month.
- A monthly payroll calendar is where you pay your employees at the beginning or end of every month.
The only time you might find it useful to do so is when you write it as part of a title. If you like to capitalize every other word in your title, then https://business-accounting.net/ it’s wise to capitalize both parts of the hyphen too. If you don’t know your hourly wage, you can usually find this on your job offer or pay stub.
Biweekly pay benefits for the HR:
You have the choice to remove the deductions for the last payroll of the month during the three-payroll month, or calculate the deduction total based on 26 pay periods rather than 24. The choice is yours, but don’t forget to adjust it, otherwise you will be over-deducting from your employee paychecks, which will create additional work and a lot of unhappy employees. Basically, biweekly pay refers to the biweekly pay schedule.
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If you want to learn more about using the English language properly, feel free to check out The Word Counter blog! We’re constantly putting up new content that can help you to understand not only what words you’re saying but why you’re saying them and where they come from! Our goal is to provide people with an invaluable resource and wealth of knowledge for speaking in the most educated way possible in the world today. There are also many similar words to biweekly, like biennial for intervals happening every two years or bi-hourly for breaks happening every second hour.
Biweekly, Bi weekly, or Bi-weekly? (Helpful Examples)
Ultimately, biweekly pay can give employees a sense of increased financial security. Although it means that they receive less per paycheck, this means that they receive more checks per year. In cases of emergency, this means that they can move more quickly to resolve their financial issues. Employees need to remember to set aside money for those 26 paychecks. This is a good idea if workers have a habit of always blowing their paychecks far too early.
Biweekly payroll is easier to manage without the need for expensive software systems. Compared to a weekly pay schedule, biweekly payroll systems are likely less expensive https://quick-bookkeeping.net/ to administer, though it will depend on the organization. A weekly pay schedule requires 52 paychecks, where as a biweekly pay schedule requires 26 paychecks.
Does biweekly mean you get paid for two weeks?
Enter a start date and an end date and the week calculator will return the number of weeks and days separating the two. Although not as commonly used, biweekly may also refer to https://kelleysbookkeeping.com/ a magazine or newspaper that publishes once every two weeks. Another synonym for biweekly is semiweekly, which means “twice a week.” The prefix semi- means half or partially.