Omnipresent Glossary
A zero-hour contract is an employment arrangement where an employer is not obligated to provide a set number of working hours, and the employee is not required to accept any offered work.
Upskilling refers to the process of learning new skills or enhancing existing ones to improve job performance and career prospects.
Year to Date (YTD) refers to the period starting from the beginning of the current calendar or fiscal year up to the present date.
Job shadowing is a professional development technique that allows individuals to observe and learn from experienced professionals in a specific field.
A Knowledge Management System (KMS) is a structured platform designed to capture, store, organize, and share information within an organization.
Hybrid work allows employees to split their time between working from home and working in a physical office space.
A Global recruitment software is a tool that helps businesses streamline their hiring process on an international scale.
A cost-of-living adjustment (COLA) is an increase in income that aims to counteract the effects of inflation.
Learn what's an Applicant Tracking System (ATS), its core functions and how to choose the right one.
A wholly owned subsidiary is a company whose entire stock is owned by another company, known as the parent company.
Imputed income refers to the value of non-cash benefits or perks that an individual receives from their employer or as part of a business transaction.
The meaning of a floating holiday lies in its adaptability. It empowers employees to decide which day holds significance for them personally.
A notice period is the amount of time an employee must give their employer before leaving their job, or vice versa.
A payslip, also known as a paycheck stub or wage slip, is a document that an employer provides to an employee each pay period.
Restricted Stock Units (RSUs) are a type of stock-based compensation that companies grant to their employees.
A pay period sets the time frame for which employees receive their paycheck and is an essential element of payroll management.
A merit increase is an adjustment to an employee's base salary that reflects their contribution and performance over a certain period.
According to the IRS, a disregarded entity is an entity that is not recognized for tax purposes as separate from its owner.
Offshoring refers to the practice of relocating business processes or services to another country.
"Time and a half" means one-and-a-half times the regular hourly wage. This higher rate compensates for overtime work.
Nonemployee compensation is the payment provided to independent contractors, freelancers, and other self-employed individuals for the services they provide.
A 1099 employee is essentially an independent contractor, not a traditional employee on a company's payroll.
The L1 visa is a non-immigrant visa that allows companies to transfer an employee from one of its international offices to an office located in the United States.
Net pay refers to the actual amount of money that an employee takes home after all deductions have been subtracted from their gross pay.
Paid Time Off, commonly abbreviated as PTO, refers to a policy that allows employees to take time away from work while still receiving their regular pay.
A summary annual report provides an overview of the company's financial performance and key developments over the past year.
In this article, we will explore the intricacies of an ESPP, its advantages, and why it might be the right choice for you.
A work permit, also known as a workers permit, is an official document issued by a government authority.
Learn the essentials of incentive compensation management, the role of software in its execution, and how it can drive success for your organization.
PEOs offer a wide range of services tailored to meet the needs of businesses. Learn more about here.
Understanding labour turnover is crucial for any organization seeking to maintain a stable and productive workforce.
Vesting is a fundamental aspect of employee benefits that can significantly impact your financial future. Learn more here.
