Weekly pay policy : How employee friendly it is?

To a step further in Flexi work culture, B2B e-commerce firm Indiamart recently announced to shift from the monthly pay policy to weekly salary. It claims to be the first one in India to shift to a weekly pay. Employees now will receive a paycheck every week.

"This is especially relevant in light of the current pandemic where millennial workers, who in many instances, live on their own away from home, struggle financially with their once-a-month month pay-checks,” said Dinesh Gulati, COO of IndiaMart.

Weekly payouts do exist in countries like the US, Hongkong, New Zealand, especially for the hourly employees.

This is one of a kind in India for now. One of the mottos of the company is to ensure the financial well-being of their employees for shifting to a weekly pay structure. The company may have its own reasons, and if it truly helps increase the well-being, what’s better?

Have not mentioned all of this to comment on the company’s own policy, but just to know what everyone in the community thinks about the Weekly pay structure? If a majority of the Indian organizations opt for this, would it be helpful for the employees as a whole? Do share your thoughts.

At the employee’s end, guess it is good that the ones who are completely dependent on their salary will have more disposable income with them for the overall month and can have their budget decided accordingly.

This may have its own pros and cons, but if a person is very particular about his/her expenses (might not be many) and has them fixed for the month, this move will not impact much.