A compensation plan is a payment package designed to attract and retain employees. A basic compensation package consists solely of a salary or wages. A more comprehensive compensation package could include additional benefits such as bonuses, perks, commission, health insurance,…
Supplemental wages are a form of compensation employers offer in addition to base income.
Pay parity is the practice of paying people equitably. This means that those in the…
Paid holidays are days of festivity or recreation when people can take a paid day…
Gross wages refer to the amount of money earned before taxes are withheld from a…
Time in lieu, also referred to as time off in lieu or TOIL, is when…
A gender pay gap is a difference in pay between men's and women’s average salaries.
A floating holiday is a paid day off that an employee can decide to take…
Revenue per employee (RPE) is a financial metric that measures the average profit each employee…
A payroll cycle is an administrative process of paying employees recurring compensation.
Salary benchmarking is the process of evaluating a company’s internal job salaries based on their…
Exempt and non-exempt employee statuses are taken from the FLSA (Fair Labor Standards Act) employee…
Indirect compensation is a type of remuneration that typically encompasses non-monetary forms of payment. Direct…
Fringe benefits are supplementary forms of payment that employers provide employees in addition to a…
Employee benefits are a form of compensation that employers provide (along with a salary) to…
Company perks are perquisites that employers provide employees to assist them in maintaining high productivity…