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Key Terms for Compensation


HR Glossary: The Key Terms & Phrases You Need to Know - Gohire

The HR Glossary: Find the Knowledge of Key Terms and Concepts Shaping the Recruitment Process ... A basic salary is a defined amount given to employees by their ...

Compensation - Vocab, Definition, and Must Know Facts | Fiveable

Compensation refers to the total remuneration or payment received by an employee in exchange for their work. This includes not just wages or salary, ...

Workers' compensation insurance glossary

Fringe benefits – Wages paid to an employee beyond their annual salary, such as health insurance, car allowance, or dry cleaning. G. Geographic ...

HR 2024 Glossary: 30 HR Terms You Should Know - NotchHR

The term compensation in HR denotes the comprehensive set of financial and non-financial rewards that an organization offers to its employees in return for ...

5 Types of Compensation Beyond Salary - Bucketlist Rewards

Offering a variety of compensation types is essential for enhancing job satisfaction, boosting morale, and ensuring long-term retention. While salary remains a ...

HR & Payroll Glossary | HR Terms to Know - Paycom

Key talent: Key talent are employees who perform work extremely well and ... provisions of a state's unemployment compensation law. Standard Industrial ...

A Glossary of Working Compensation Terms You Need To Know

Whether you're an employee, HR professional, or a worker trying to understand your rights, having a clear grasp of key terms is essential. This ...

Compensation Strategy: 3 Most Popular Approaches - Eddy

There are three main compensation strategies to consider when setting salary rates: leading, lagging and meeting the market.

What Is a Compensation Policy? - Velocity Global

Base pay. Base pay is the regular salary or wage an employee earns for their work. · Variable pay. Variable pay is supplemental compensation based on job ...

COMPENSATION definition in American English - Collins Dictionary

SYNONYMS 3. recompense, payment, amends, reparation; requital, satisfaction, indemnification. Most material © 2005, 1997, 1991 by Penguin Random House LLC ...

Employee Compensation: Key Types, Trends, and Best Practices

Employee Compensation vs. Employee Benefits ; Salaries, wages, bonuses, commissions, overtime pay. Health insurance, retirement plans, paid time ...

Key words of incentive compensation - Primeum

Look back at the most commonly used terms across the lexicon of incentive compensation. SALES VERSUS TARGET BONUS Approved by companies to boost the individual ...

Compensation:Concepts & Formulas - Medium

Compensation comprises of three key elements: pay level (base wage or salary), pay increases, and incentives (cash bonuses).

Top Sales Compensation Terms You Need to Know | Forma.ai

A fixed compensation paid to an employee for performing specific job responsibilities. Exclusive of other forms of payments, benefits, or ...

What is a compensation plan? - HiBob

A compensation plan is a payment package designed to attract and retain employees. A basic compensation package consists solely of a salary or wages.

Workers' Compensation Glossary - FindLaw

Small businesses need workers' compensation insurance, too. Get more information about this important employee benefit at FindLaw.com.

Glossary of Human Resources Terms

... essential to business operations. Employee Competency Assessment (ECA) ... Salary Structure | The EHRA Non-Faculty salary structure is a formal compensation ...

DWC glossary of workers' compensation terms for injured workers

Essential functions: Duties considered crucial to the job you want or have. When being considered for alternative work, you must have both the physical and ...

Compensation Guidelines - Drexel University

Provided below are some basic terms: Base Salary: Compensation paid weekly, monthly or annually (rather than hourly), typically to jobs exempt from FLSA ...

Job Terminology Glossary - NIH: Office of Human Resources

... basic pay, this is typically referred to as an employee's total compensation. (OPM Pay & Leave). Competitive Appointment. All civil service positions in the ...