5 Ways To Look Out For Your Employees This Black Friday

woman black friday shopping

Every year, thousands of employees get their Black Friday paychecks late when the person in charge of payroll goes on vacation without approving an electronic transfer or misses their holiday processing deadline. This year, plan ahead with these 5 ways to look out for your employees in time for Black Friday shopping.

1. Know Your Deadlines

With the Federal Reserve Bank closed on November 28th and Southland Data Processing closed on the 28th and 29th, your payroll processing schedule may look a bit different this week.

To make sure all of your employees get paid on time, review SDP’s Thanksgiving Payroll Schedule guide for all of our processing deadlines by check date. Miss your deadline? Not a problem! Check out the next tip for a back-up option to help employees before they head out to hunt for holiday discounts.

2. Grant On-Demand Access

Hate changing check dates, worry about missing your processing deadline, or have to account for employees not able to come in to pick up their checks on time? With SDP’s Wages On Demand program, your employees can access pay for their already-worked hours instantly and securely – anytime and anywhere!

Managing employee advances in-house is risky–not only that you won’t get paid back, but also through exposure to discrimination claims. With Wages On Demand, you eliminate the risk and the work associated with wage advances.

Employer Cost: Free.

Employee Cost: $5 flat transaction fee to access $200 at a time.

How to Offer: Sign SDP’s Engagement Form and submit to [email protected]. We can get you set up for use the same-day!

3. Forward Thinking

Maybe you’ve hit your processing deadline and activated Wages On Demand, but how can you get to the root of the problem to help employees avoid a future financial pickle? Our FinFit Financial Education & Financial Dashboard helps employees understand their options and ensure they don’t spiral out of control when unexpected financial challenges arise.

Activate today to grant your employees access to a number of free financial resources including assessments, short-term loans, financial coaching, and budget calculators. The goal? To help them reach a state of financial stability so they won’t need to take out loans in the future.

Employer Cost: Free.

Employee Cost: Fees based on the amount of the loan.

How to Offer: Enroll online and download employee handouts.

4. More Ways to Save

Chances are, you’ve heard of FSAs, HSAs, 125 plans, commuter benefits, COBRA, and the like. A new fintech solution ALICE Financial takes all of these pre-tax spending plans and automates them.

That means if your employees make any eligible purchases this Black Friday, ALICE will automatically identify them, text the employee to confirm, and update the deductions in payroll. Employees get to keep more of the money they earn and employers lower their payroll taxes – all with no work for you!

Employer Cost: Half of what you save – there’s never an out-of-pocket cost to use. (Who doesn’t like free money?!)

Employee Cost: Free.

How to Offer: Email us at [email protected] to get set up.

5. Nix Paper Checks

Last but not least is ditching paper checks once and for all. When you stick with checks, your employees get stuck with high fees to cash them, while you waste time and money issuing, processing, and delivering checks.

Our paycard solution is a secure and simple way for your employees to receive money. Especially if your office is closing for the holiday or if you have employees who don’t come in every day, this solution is a must to save on check delivery fees and empower your employees.

Employer Cost: Free.

Employee Cost: Primary functions are free to employees, but additional charges may apply.

How to Offer: Email us at [email protected] to get set up.

What do you think?

How many of these strategies are you already using? If you haven’t already, email us at [email protected] to activate your free employee benefits today! And be sure to check us out on FacebookTwitter, and LinkedIn for even more business tips & tricks!

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