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This article unpacks 93 HR terms, including a usage example for each. HR term example: “Broadbanding offers flexibility in employee compensation and encourages people to develop new skills to move higher within the pay range.” HR term example: “Compassionate leave is not the same as bereavement leave.
Performance-based compensation reviews: Focuses on employee performance and rewards top performers with raises or bonuses. For example, their compensation may increase by a predetermined percentage for each year of employment, which in turn encourages longer tenures. Employee tenure: Many organizations reward long-serving employees.
Together, they make up a total compensation package, which may include salary, bonuses, insurance, retirement contributions, and various other perks aimed at attracting, motivating, and retaining employees. For example, in the United States, health insurance makes up a key component of benefits. This money is subject to taxation.
As an HR leader for your organization, you know that employee compensation is not just something you determine when you hire a new team member and then forget about. On top of this, employee compensation has many other components, adding additional layers of consideration for your HR team. What is Compa-ratio?
In addition, as employees know that there are incentives or commissions, they are constantly encouraged to achieve greater outcomes. And in case of exceptional job performance, you can always reward them in form of bonuses, incentives, stocks, etc. Compa Ratio.
In addition, as employees know that there are incentives or commissions, they are constantly encouraged to achieve greater outcomes. And in case of exceptional job performance, you can always reward them in form of bonuses, incentives, stocks, etc. Compa Ratio.
For example, HR can play a role in articulating and initiating policies in recruitment, compensation and other functional areas to ensure equal roles receive equal pay, anti-discrimination and increase diversity in terms of fair representation of different groups of people.”. HR’s role in tipping the scales.
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