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Holiday pay is any alternative compensation an employer provides employees while they are on vacation. It could come in the form of fully or partially compensated time off, a bonus or higher hourly pay for work done on a holiday, or all of the above. The most widely held belief on holiday pay in the United States is that businesses should pay workers who work on holidays ‘time-and-a-half,’ or 150 percent of their regular hourly salary.
Managing such compensation manually for employees can be challenging and error-prone. Hence, most organizations utilize the Pay Policy configurations available in Advanced HR software to manage the processing of payroll for holiday pay automatically.