5 Methods Today’s Businesses are Using to Navigate Employee Payments

Katie Sawyer

Katie Sawyer

April 21, 2020

5 Methods Today’s Businesses are Using to Navigate Employee Payments

Katie Sawyer,
April 21, 2020


As the novel coronavirus pandemic continues to sweep the globe, businesses — from national chains to mom-and-pop shops — have been forced to re-evaluate how to keep their business afloat while protecting their hourly employees. 

Whether your business has seen a spike in revenue or you’re contemplating closing your doors to ride it out, here are some ways you can support your employees during this difficult time. And as an added bonus, we’ll also have recommendations on how your employees can get creative with their cashflow. 

1. Grant paid time off 

Perhaps your city has a “shelter in place” mandate or you just want to take precautionary steps to protect your team. Granting your employees their full paid time off or offering extended paid time off will help them stay afloat should they have to self-quarantine. 

Krogers announced it will pay any current part-time and full-time employees for 14 days that are forced to quarantine at home or have been diagnosed with coronavirus. While Chipotle announced some of its corporate employees will receive unlimited PTO. 

2. Furlough your staff instead of laying them off 

What’s the difference between a furlough and a layoff? 

A furlough is considered to be an alternative to layoff. When an employer furloughs its employees, it requires them to work fewer hours or to take a certain amount of unpaid time 

off. 

Marriott International, the world’s largest hotel chain, furloughed several employees, from housekeeping to general managers. 

In Australia, eligible employees can apply for JobKeeper, stimulus package to help bridge the gap created by COVID-19.

3. Establish an emergency relief fund 

Some businesses may or may not be able to provide their staff with consistent schedules during this time so another alternative is an emergency relief fund. Take, for example, Amazon, who has set up a relief fund with a $25 million contribution to support delivery service partners and drivers along with Amazon Flex participants and seasonal employees.

No matter how small or large the fund, it won’t go unnoticed by your employees who will appreciate any help you provide during these difficult times. 

4. Make a schedule that meets business needs without overstaffing

When it comes to scheduling, you need the right staff, at the right times, across different roles or locations. Take the guesswork out of scheduling by letting artificial intelligence do the heavy lifting for you. 

AI can track metrics like sales, foot traffic, and table reservations to determine the right number of employees you should have working at any given time. That way, you reduce staff costs while keeping customers happy.

5. Integrate with your payroll solutions

When you’re looking to save costs, make sure you’re paying your employees accurately. One of the best ways to do that is to ensure your workforce management system integrates with your payroll.

Streamline your business admin to ease the pressure of managing your team in stressful times. Focus on attending to your customers — not having to reduce your staff. 

Run your business more efficiently

As COVID-19 forces more communities to take precautions, restaurants, bars, and other gathering places bear the economic brunt. Now is the perfect time to revisit your cost reduction strategies so you can keep your doors open and help your employees pay their bills.

No business owner wants to cut staff. Sign up for a free trial of Deputy to align labor requirements with sales forecasts to reduce your wage bill, optimize staffing levels using live sales data, and prevent time theft with biometric and geo-location validation.

Important Notice
The information contained in this article is general in nature and you should consider whether the information is appropriate to your needs. Legal and other matters referred to in this article are of a general nature only and are based on Deputy's interpretation of laws existing at the time and should not be relied on in place of professional advice. Deputy is not responsible for the content of any site owned by a third party that may be linked to this article and no warranty is made by us concerning the suitability, accuracy or timeliness of the content of any site that may be linked to this article. Deputy disclaims all liability (except for any liability which by law cannot be excluded) for any error, inaccuracy, or omission from the information contained in this article and any loss or damage suffered by any person directly or indirectly through relying on this information.


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ABOUT THE AUTHOR
Katie Sawyer
Katie is the Director of Content Marketing at Deputy. She's happiest when she can help people do more of what they love. She likes telling stories, meeting new people, and being a word nerd.
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