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pay periods can be scheduled in many different ways each impacting the amount of checks an employee receives as well as how often they are paid but what are each of these pay schedules and which one is best today I will answer these questions and more as we dive into the different types of pay periods now letamp;#39;s get started what constitutes a pay period a pay period is a recurring stretch of time representing the days an employee has worked and is compensated every business needs to determine which payroll schedule is right for their company but itamp;#39;s not always that simple small businesses must take into account the needs of the business and the needs of their employees before making their decision when employers weigh their options about which type of pay period to use for their team itamp;#39;s important to take into account the kinds of employees they have and the cost time and resources they need to manage their payroll how many types of pay periods are there are fo