cdnavater wrote: ↑Sat Mar 16, 2024 8:00 am
flyinhigh wrote: ↑Sat Mar 16, 2024 6:56 am
co-joe wrote: ↑Fri Mar 15, 2024 4:36 pm
Yes, most have, a few in institutions are slower than others. Pay day is the 15th, oh look it's still the 15th. Not ideal optics, but still going to work tomorrow.
Ideal optics?? It’s bad enough for the company to acknowledge it, adding in the fact 25 million is being withheld now as well says a lot.
I would say we’re entering the cash on the dash phase, I didn’t hear anything about Lynx missing payroll.
Will 777 bail them out one more time or cut their losses?
Anyone who hasn’t applied elsewhere at this point is just fooling themselves.
I wish you luck
If you understand how digital payroll works, you would similarly understand how this is a big deal.
Simplest explanation - ADP made a mistake. If that were the case, then the employer should say so along with assuring the employees on behalf of ADP that the mistake will not be repeated.
If ADP did NOT make a mistake, then it gets more interesting.
ADP redistributes funds on hand (in trust) from the employer. Payroll works like an NSF cheque - if you are short $1 from the amount on the cheque then the entire cheque gets bounced by the bank.
I have no idea what the precise timelines are but I would expect most employers would have digitally transferred required payroll funds to ADP at least one banking day prior to the pay distribution date. An absence or shortfall in required funds would have triggered an interesting conversation between ADP and the employer. ADP is not a bank. It does not lend funds and collect later. ADP would never put itself in the position of becoming a creditor.
The good news is that ADP eventually hit ‘send’ and the Flair employees got paid. It means the required payroll funds arrived and could be redistributed per the ADP service agreement. In the digital age, things can happen very quickly.
However, nobody should have to hold their breath on payday. It hasn’t happened anywhere else.
