Can multiple payments be made in a single month?
French workers dream of receiving multiple salary payments throughout the month, but this isn't a common practice yet in the country. According to a survey, 63% of employees yearn for a change to allow for multiple payments. Although the UK allows weekly pay, French employees currently get a monthly paycheck.
One restaurant employee stated, "I believe it would help reach the end of the month more peacefully, to have money constantly flowing, rather than running out on the 15th."
The president of the Confederation of Small and Medium Enterprises (CPME) Paris Ile-de-France is open to the idea. "It's not a bad idea, as long as it's feasible and requested by the employees," said Bernard Cohen-Hadad. However, he pointed out potential management difficulties, such as software acquisition and additional controls.
Cohen-Hadad stressed the need for companies to make a profit, and that the idea should be thoroughly considered. He also suggested bankers offer more overdraft authorizations to boost flexibility for employees and small entrepreneurs.
Amidst these discussions, it's worth comparing one's salary with the average French wage.
Multiple salary payments per month can offer numerous benefits, such as better cash flow management for employees and improved morale. However, the administrative complexities, social security and tax complications, compliance risks, and potential for payroll errors could make this a challenge in France. Despite the challenges, the idea remains worth reflecting upon.
- To facilitate better cash flow management and boost employee morale, the restaurant employee proposed adopting multiple salary payments per month, a practice already prevalent in the UK's business finance.
- The president of the Confederation of Small and Medium Enterprises (CPME) Paris Ile-de-France, Bernard Cohen-Hadad, suggested that banks could offer more overdraft authorizations to aid employees and small entrepreneurs in management, alongside considering the idea of multiple salary payments, which could present administrative complexities and risks.
