Study on the payroll schedule preferences among private employees in Iba, Zambales
College of Accountancy and Business Administration, President Ramon Magsaysay State University, Philippines.
Research Article
Magna Scientia Advanced Research and Reviews, 2023, 08(02), 026–035
Article DOI: 10.30574/msarr.2023.8.2.0091
Publication history:
Received on 14 May 2023; revised on 03 July 2023; accepted on 05 July 2023
Abstract:
This study is to identify which payroll schedule is more preferred as perceived by private business employees because how often they are being paid has a significant impact on the business. Moreover, paying employees too infrequently can cause employees to stress about their budgets, however, paying employees too frequently can add considerable costs to the business’ expenses. This study utilized a descriptive research design employing a survey questionnaire in data gathering from the 150 private employees selected through quota-convenient sampling. The questionnaire is composed of 2 parts: (1) to determine the respondent’s profile variables, and (2) to determine their perceived preferred payroll schedule.
The researcher concluded that the majority of the respondents belong to adulthood, females, rank-and-files, working for 5-7 years, lower-middle class status; spending of P685.82 daily, and currently using a monthly payroll schedule. The respondents perceived strongly agree with the preferred payroll schedule in terms of daily, weekly, semi-monthly, and monthly payrolls. However, they agree in terms of bi-weekly payroll. And there is a significant difference in the perceived preferred payroll schedule in terms of daily payroll based on the respondent’s age and currently used payroll; in terms of weekly based on the respondent’s age, position, and currently used payroll; and in terms of bi-weekly and monthly payroll based on the respondent’s currently used payroll.
Therefore, it is recommended that business owners who are currently using a monthly payroll schedule may consider the other form of payroll to prevent employees from financial stress from waiting too long before they get paid. Business owners may refrain from implementing the bi-weekly payroll for the employees. Business owners may consider the age bracket of their employees in implementing daily payroll. Additionally, business owners may also consider the welfare of the employees as they are important in day-to-day operations. Thus, they should be motivated through payroll.
Keywords:
Payroll; Payroll Schedule; Private Business Employees; Business Owners
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Copyright © 2023 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0