Wtf is going on with switching paydays. I heard part of a meeting but that's it.
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Don’t know what business unit you’re in or what payroll group you’re part of, but if the 15th or last day of the month falls on a weekend, you’re actually paid the Friday before. Check your pay stub from October 15th.
Payment Date: 10/14/2022
Period Ending: 10/15/2022
Semimonthly is not consistent. If the 1st or 15th falls on a weekend as it often does then we have to wait until the following weekday to get paid. That’s a benefit to the company (float), not us. Most companies will pay the preceding weekday/Friday but Exxon does not. If they are skipping a pay period, I don’t know the rationale but they are keeping one paycheck “in the ho-e” and when you leave, it will be paid out then. But who knows if any of this is even true.
It isn’t a “loan” if we worked the first two weeks of the year. WTF?
Currently payroll is paid as we work. Work Dec 1 - Dec 15 and get paid on Dec 15 for those days.
Is this another ploy to try to deter resignations? First accruing vacation and now pay frequency with an excuse to not pay for two weeks worth of work?
Biweekly or semimonthly…potato potato. But what’s the rationale for skipping the first payroll (or pretending to be so gracious with a “loan” for time we’ve already worked) if in either case it would be due on Jan 13?
"Definitely on board with bi-weekly. More consistent. Most companies pay bi-weekly. "
First and Fifteenth is more consistent.
"It is an accounting/financial game they are playing with your money. This allows them to avoid paying you on the last day of the month, and in particular, the last day of the quarter and borrow $ from you at 0% interest rate."
They said that they are going to float a loan for 80hrs that is going to be due upon termination of employment. This will be optional with the other option skipping the first paycheck after the change
What happens if you want to get paid once a month?
Definitely on board with bi-weekly. More consistent. Most companies pay bi-weekly. Always thought it weird that we didn't have it. But, i'm sure there must have been some benefit to the company and not us.
Wth. This is what someone thinks up, when there are 1000 more legit ways to keep the company from bleeding money?
In this way you get 26 paychecks per year instead of 24.
It is an accounting/financial game they are playing with your money. This allows them to avoid paying you on the last day of the month, and in particular, the last day of the quarter and borrow $ from you at 0% interest rate.
I really wish y’all would stop giving them ideas on how to sc--w us.
Something about switching to a bi-weekly from the semi-monthly schedule now. I also heard we will have to skip a paycheck in January.