In view to build a flexible and supportive working environment for its employees, online B2B marketplace IndiaMART has moved to a weekly salary pay disbursement regime. The company has taken the initiative to disburse the salaries on a weekly basis rather than monthly taking into account the benefits to the employees, their preferences as well as the changing dynamics of the global economy. Weekly payouts are a big step in the direction of promoting employee wellness. Weekly payouts are already common in New Zealand, Australia, Hong Kong and the US. When it comes to processing payroll, most employees receive their paycheques at the end of the month. Weekly payroll is the best payroll option available especially for hourly employees.
Speaking on his decision to introduce weekly payout, a first for any organisation in the country, Dinesh Gulati, COO of IndiaMart said, “Amidst the rapidly evolving flexi work culture, instant gratification is what every employee expects. We believe weekly payouts will be appreciated by one and all across the organization. We had started taking steps in this direction many years back when we migrated to weekly incentive payouts for many roles across the organizations.” Paying employees on a weekly basis makes it easier for them to meet their real-time fiscal obligations. Not to mention how the excitement of the payday increases fourfold with the weekly payout, making employees more satisfied, happier, and, consequently, more motivated towards their purpose in the organisation. The company said the weekly payout system goes a big way in helping employees alleviate their financial hardships and regain control of their lives positioning them for success in every aspect.