A change to thecycle affects every employee, even those whose pay won’t be impacted, because employees talk. So, planning for the change is key, and planning and execution can take as long as two years, commented Lisa Poole, CPP, VP, business systems analyst at SunTrust Bank. Poole provided some tips and tricks to make the change process as painless as possible.
Change is about efficiency
Efficiency usually means more affordable, easier and whatever makes the most sense at the time, Poole said. A pay cycle change can be precipitated by new software or a merger or acquisition. Sometimes, the C suite can define efficiency as workload reduction, but that might not always be the case, she added. For example, Poole noted that switching from a semimonthly to a biweekly pay cycle might make sense from the corner office’s perspective, but the real result is more work, since you’re going up from 24 pay periods to 26 instead....(register to read more)