Payroll vs. Hourly Pay
Monthly payroll is usually the most common form of payment for many employees. However...
Monthly payroll is usually the most common form of payment for many employees. However, in this modern era, the hourly wage is becoming increasingly popular with workers who value flexible working schedules. It’s a pay structure that incentivizes hard work, allowing you to earn more as you work more.
This article aims to show you the benefits of hourly compensation over the payroll.
In the past, hourly pay was just applicable to a handful of jobs. But as freelancing becomes more and more popular, people favor hourly payments over monthly salaries. This is because hourly payments offer a lot more flexibility for those who are looking for opportunities to expand their business and make money on the go.
Moreover, tracking your time is now easy. You will be paid fairly for the work you do when you use time-tracking tools like Windu. That said, let’s look at why you should opt for hourly pay.
These days many working professionals are juggling multiple things at once, from other jobs to family commitments to personal matters. When you’re paid hourly, you get to decide how you handle your own schedule. If you need to take a break in the middle of the day then you have the freedom to do that, unlike at a traditional payroll job.
One of the best benefits of being paid hourly is being paid for how much you work. Unlike salaried employees, you are not obliged to stay in the office for 8 hours. If you are paid hourly, you clock in, finish your task, and you can go. Even if your employer does not see you working, they can still know you worked because you are tracking your time.
Another great benefit for hourly workers is that they can work in the comfort of your home or work remotely. By using time tracking tools like Windu, you’ll be able to track your hours, keep them recorded, and easily make invoices for payment. Most importantly, your employer knows what you are working in and for how long. Windu empowers you to keep information in one organized tool at the click of a button. You don’t have to worry about keeping records with the hours you worked.
Beyond this, time tracking is a great way to make sure you’re being compensated for all your work. It also ensures your employer knows how you are spending each hour of your day.
If you are a worker or freelancer, the choice between an hourly rate and a monthly salary depends on what you’re looking for in life. If you prefer stability and uniform scheduling, accepting a monthly salary might work better. However, if you have a life outside of your job and enjoy the flexibility and freedom an hourly wage can bring, it’s definitely the way to go.