On-Demand Pay: Are the Biweekly Payroll Times A’Changin?
On-demand pay is gaining access and employers big and small, are beginning to look at this method of payment for their workers. In this webinar we will discuss how on-demand pay began in the gig economy and has now spilled over into the traditional employee workplace. We will look at the different types of on-demand pay programs that have been developed, from in-house programs to third-party vendors. And we will examine closely the federal and state laws/regulations and their impact when offering on-demand pay.
In recent years, the gig economy has undergone rapid expansion. This event has also expanded the interest in faster payment methods like on-demand pay. Gig workers wanted to access their pay when they wanted rather than according to a schedule that was set up by the company. It was like harkening back to the days of mowing lawns and babysitting. Once the work was performed you were immediately paid. Gig workers reasoned, why should the company be allowed to hold onto my money when no taxes etc. are being withheld. Interest in on-demand pay did not stay within the gig economy. Many employees across the nation are now requesting access to their wages earlier than the arbitrary traditional payday. However, the concept of on-demand pay for employees raises many questions and potential hazards for employers. These might include when the actual payment occurs for employment tax withholding, depositing, and reporting; handling garnishment deductions that are currently based on either a biweekly or other established pay period or whether it is even permitted under wage hour laws.
Areas covered in this webinar:
• What is on-demand pay
• Types of programs available
• Benefits of on-demand pay to employees
• Benefits of on-demand pay to employers
• Drawbacks to on-demand pay for both employees and employers
• State and federal wage and hour regulations for on-demand pay
• Tax ramifications of on-demand pay
• Setting up an on-demand pay policy
Who can Benefit:
• Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
• Human Resources Executives/Managers/Administrators
• Accounting Personnel
• Business Owners/Executive Officers/Operations and Departmental Managers
• Attorneys/Legal Professionals
• Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues
Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor™, a firm specializing in payroll education and training. The company offers a payroll news service which keeps payroll professionals up-to-date on the latest rules and regulations.With over 35 years of hands-on experience in all facets of payroll functions as well as over 20 years as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issue... View Full Profile
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