Solutions

Finance Glossary

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Annual Report

A report that a firm releases each year to its shareholders. The annual report comprises…

Annuity

A series of equal payments paid at regular periods. Annuities can be utilized to provide…

Asset

An asset is defined as a valuable resource owned or controlled by an individual, business,…

Abnormal Losses

It refers to unexpected or extraordinary losses incurred by a business or investment beyond what…

Abnormal Returns

Abnormal returns are the extra profits or losses of an investment compared to what was…

Accounting

Accounting is the systematic process of recording, summarizing, analyzing, and interpreting financial transactions of a…

Accounting Equation

The accounting equation articulates that the total assets of a business are equivalent to the…

Accounts Payable

Accounts payable (AP) refers to the amounts of money that a business owes to its…

Accounts Receivable

Accounts receivable (AR) refers to the amounts of money that a business is entitled to…

Accrued Interest

The interest that has been earned on a loan or investment but has not yet…

Accumulated Depreciation

The entire amount of recorded depreciation on an asset since the asset’s acquisition is known…

Acid Test Ratio

The acid test ratio is calculated by dividing a company’s current assets minus its inventory…

Acquisition of Assets

The process of buying assets from another company. Acquisitions can be done for a variety…

Amortization

Amortization of intangible assets refers to the gradual process of spreading out the cost of…

Annual Percentage Rate

The annual percentage rate that represents the cost of borrowing money. APR is a useful…

Annual Percentage Yield

The interest rate that a depositor will receive over the course of a year, compound…

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Bills of Exchange

A bill of exchange is a short-term, negotiable financial instrument that is a written order…

Bond

The investor receives interest on their investment, and the borrower utilizes the funds to fund…

Book Value

An asset’s original cost less total depreciation is its book value. As the net worth…

Bookkeeping

Bookkeeping is the systematic recording, organizing, and categorizing of financial transactions within a business.

Brokerage

Brokerage refers to a financial service facilitating the buying and selling of financial instruments, such…

Budget

A budget is a financial plan outlining an organization’s or individual’s expected income and expenses…

Bad Debt

Bad debt refers to an amount that is unlikely to be recovered by a lender…

Balance Sheet

A financial statement that lists a company’s assets, liabilities, and shareholder equity as of a…

Bank Reconciliation

Bank reconciliation is the process of aligning a company’s cash account records with the corresponding…

Bankruptcy

Bankruptcy occurs when an individual or entity is incapable of settling outstanding debts.

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Common Stock

Common stock is a type of equity ownership in a corporation, entitling shareholders to voting…

Competitive Advantage

A unique attribute, capability, or advantage that sets a company apart from its competitors and…

Compound Interest

Interest calculated on the initial principal amount and also on the accumulated interest of previous…

Consumer Price Index

A measure of the average change in prices paid by consumers for a basket of…

Convertible Bonds

Corporate bonds that can be exchanged for a predetermined number of the issuing company’s common…

Cost

The amount of money or resources expended to produce or acquire goods or services, including…

Cost of Goods Sold

The direct expenses incurred by a company in producing goods or services sold to customers,…

Credit

The ability of a borrower to obtain goods or services before payment, based on a…

Credit Score

A numerical representation of an individual’s creditworthiness, based on their credit history and financial behavior,…

Current Assets

Assets that are expected to be converted into cash or consumed within one year, such…

Current Liability

Obligations that are due within one year, such as accounts payable, short-term loans, and accrued…

Current Ratio

A financial metric used to assess a company’s liquidity by comparing its current assets to…

Current Yield

The annual income generated by an investment, typically expressed as a percentage of the current…

Commission

Commission refers to the fee paid to brokers or agents for facilitating financial transactions, typically…

Call Option

A call option is a financial contract that gives the holder the right, but not…

Capital

Capital refers to financial assets or resources available for investment or use in business operations.…

Capital Budgeting

Capital budgeting is the process of planning and managing long-term investments or projects by evaluating…

Capital Gain

Capital gain refers to the profit realized from the sale of a capital asset, such…

Capital Loss

A capital loss occurs when the sale price of an asset is lower than its…

Capitalism

Capitalism is an economic system characterized by private ownership of the means of production and…

Cash

Cash refers to physical currency or its equivalent in the form of liquid assets, readily…

Cash and Cash Equivalents

Cash and cash equivalents refer to highly liquid assets that can be quickly converted into…

Cash Flow

The net amount of cash and cash equivalents moving into and out of a business,…

Certificate of Deposits

Financial instruments issued by banks with fixed interest rates and maturity dates, providing a secure…

Claim

A claim is a legal right to seek payment or compensation from another party, often…

Collateral

Collateral refers to assets pledged by a borrower to secure a loan, providing the lender…

Commercial Paper

Short-term debt issued by corporations or financial institutions, typically with maturities ranging from a few…

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Drawings

Withdrawals of cash or assets from a business by its owners for personal use, distinct…

Due Date

The date by which a payment or obligation must be fulfilled, serving as a deadline…

Derivatives

Financial instruments whose value is derived from the value of an underlying asset, index, or…

Direct Tax

Taxes imposed directly on individuals or entities, such as income tax or property tax, collected…

Discount Rate

The interest rate used to calculate the present value of future cash flows, often applied…

Diversification

Spreading investments across different assets or asset classes to reduce risk by avoiding overreliance on…

Dividend

A portion of a company’s earnings distributed to its shareholders as a return on their…

Draft

A written order directing a bank to pay a specified sum of money to a…

Debit

An accounting entry that represents an increase in assets or a decrease in liabilities or…

Debt

Money borrowed by an individual or entity, typically repaid with interest over time according to…

Deferred Tax

Taxes that are due in the future, often resulting from temporary differences between accounting and…

Deflation

A sustained decrease in the general price level of goods and services in an economy,…

Demand Draft

A method of payment where one party instructs a bank to pay a specific sum…

Deposits

Funds placed into a bank account for safekeeping or investment purposes, providing liquidity and potential…

Depreciation

The gradual decrease in the value of an asset over time, reflecting wear and tear,…

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Earned Income

Income generated from active participation in business activities or employment, including wages, salaries, tips, and…

Earnings Before Interest and Tax (EBIT)

A measure of a company’s operating profitability, calculated by subtracting operating expenses from revenue before…

Earnings per Share

A financial metric indicating the portion of a company’s profit allocated to each outstanding share…

Efficient Market Hypothesis

A theory suggesting that asset prices reflect all available information and that it is impossible…

Employee Stock Ownership Plans (ESOPs)

Retirement plans allowing employees to become partial owners of the company through stock ownership, providing…

Endowment Fund

A pool of invested assets managed to provide ongoing financial support for an organization or…

Entrisic Value

The perceived or calculated value of an asset based on its fundamental characteristics and underlying…

Equity

The ownership interest in a company, representing shareholders’ residual claim on assets after deducting liabilities.

Exchange Rate

The price at which one currency can be exchanged for another in the foreign exchange…

Extraordinary Items

Unusual and infrequent events or transactions not considered part of a company’s regular business operations,…

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Fixed Pay

Fixed pay is the monthly salary companies guarantee their employees in exchange for their services.…

Flexi Benefits

A Flexible Benefit Plan (FBP) is a plan included in an employee’s salary which has…

Food Coupons

Food Coupons are food vouchers given by organizations to their employees to have their meals…

Forecasting

Forecasting is a technique that uses historical data as inputs to make informed estimates that…

Full and Final Settlement

Full and final settlement is the process of calculating all the dues payable to an…

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Gamification

Gamification is the method of applying gaming tools and game-thinking approaches towards organizational processes for…

Ghosting

Ghosting is to shut all the communications without notification. The term is used by employers…

Gig Worker

GIG WORKER is a person who works temporary jobs typically in the service sector as…

Gratuity

Gratuity is the amount paid by an employer to the employee for the services rendered…

Grievance

The term’ Grievance’ is usually used in HR concerning the relationship between an employer and…

Gross Salary

Gross Salary is the total amount an individual earns before any tax deductions they incur.…

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Hiring

Hiring is the process of reviewing applications, selecting the right candidates to interview, testing candidates,…

Hiring Manager

Hiring managers are responsible for hiring an employee, or employees, to fill open positions in…

Holiday

A holiday is a day or other period of time set aside for festivals or…

House Rent Allowance

House Rent Allowance is a part of your salary provided by the employer for the…

HR Analytics

HR Analytics is the collection and application of talent data to improve critical talent and…

HR Audit

An HR audit is an objective examination of your business’s HR policies, practices, and procedures.…

HR Consulting

HR consulting is the practice of delivering all aspects of human resource management as an…

HR Generalist

A human resources generalist is an HR professional who handles the daily responsibilities of talent…

HRMS

A human resource management system (HRMS) is a set of software applications that assists HR…

Human Capital Management

Human capital management (HCM) is the set of practices an organization uses for recruiting, managing,…

Human Resouces Information System

The HRIS is a system that is used to collect and store data on an…

Human Resource Business Partner

A human resources business partner, or HRBP, is an HR professional who can handle everything…

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Intern

a student or trainee who works, sometimes without pay, in order to gain work experience…

Internal Communication

Internal communications is the function responsible for effective communications among participants within an organization.

Internal Hiring

Internal hiring is a process of fulfilling open job vacancies from within the organization. Organizations…

Internal Job Posting

Internal job posting means advertising open job positions in the company itself to hire existing…

Interview Panel

A panel interview is when two or more people interview you at the same time.…

In-House Talent

Inhouse talent means an existing employee’s expertise on skill set apart from his/her KRA (Key…

Incentive Pay

Incentive pay is a type of wage or salary payment that is made to employees…

Inclusion

Inclusions is the act of including someone or something as part of a group, list,…

Income Tax Declaration

An income tax declaration is a document an employee submits to their employer. The document…

Income Tax Refund

An income tax refund is a state of reimbursement to a taxpayer when he pays…

Insurance

Insurance is a means of protection from financial loss in which, in exchange for a…

Intellectual Property

Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic…

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Job Title

A job title is a formal name for a specific position within an organization. It…

Job Analysis

Job analysis is the process of gathering and analyzing information about the content and the…

Job Board

A job board is an online platform where employers list job vacancies and job seekers…

Job Description

A job description is a tool that explains the tasks, duties, function and responsibilities of…

Job Dissatisfaction

Job dissatisfaction is when an employee does not feel content in their job. This can…

Job Enlargement

Job enlargement means increasing the scope of a job through extending the range of its…

Job Enrichment

Job enrichment is a method of motivating employees where a job is designed to have…

Job Evaluation

Job evaluation is the process of comparing a job with other jobs in an organization…

Job Hopper

Job-hopping is a career choice whereby workers opt to switch jobs frequently.

Job Posting

A job posting is an official advertisement of job openings published for job seekers. It…

Job Requisition

A job requisition is a formal document or form used to request the creation of…

Job Role

A job role, also known as a job position or job title, is a specific…

Job Rotation

Job Rotation is a management approach where employees are shifted between two or more assignments…

Job Seeker

A job seeker is an unemployed individual who is actively searching for a job opportunity.…

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Key Responsibility Area (KRAs)

A Key Responsibility Area or KRA is the detailed summary of what the employee is…

Knowledge Transfer

Knowledge transfer is the sharing or disseminating of knowledge and the providing of inputs to…

Key Performance Indicator (KPI)

KPI stands for key performance indicator, a quantifiable measure of performance over time for a…

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LOP Reversal

Sometimes it happens that an employee has come to work but attendance is not marked…

Loss Of Pay (LOP)

The employee here is on leave without salary/wages. In Loss of Pay (LOP), the absence…

Leave Sharing Scheme

Employers encourage workers to contribute some of their accumulated earned leave time to other employees…

Leave Travel Allowance (LTA)

LTA or leave travel concession is the allowance paid by your employer to cover your…

Labor Union

A labor union is an organization formed by workers in a particular trade, industry, or…

Leave Year

Leave Year is the specific period in which employees receive the Paid leave quota.

Labour Welfare Fund {LWF}

Labour Welfare Fund is a fund contributed by Employer, Employee and in some states by…

Legal Entity

A Legal Entity is an individual, group of persons, or organization that has legal rights…

Lateral Hiring

Lateral recruitment is the process of hiring employees who are already working in a similar…

Lateral Move

A lateral move occurs when an employee moves into a new position within the same…

Leadership Development

Leadership development is the process which helps expand the capacity of individuals to perform in…

Learning And Development (L&D)

Learning and development (L&D) is a function within an organization that is responsible for empowering…

Learning Management System {LMS}

A learning management system is a software application or web-based technology used to plan, implement…

Leave Balance

Leave balance means the number of leaves remaining to utilize from the sanctioned annual leave…

Leave Credit

Leave Credit means the number of paid and earned leaves assigned to each employee by…

Leave Encashment

Leave encashment refers to the compensation provided by an employer to an employee for their…

Leave Policy

A leave policy is a document that lays down the rules and regulations related to…

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Muster Roll

Muster Roll refers to the list of workers working on a factory/work unit site for…

Management By Objectives { MBO }

Management by objectives (MBO) is a strategic management model that aims to improve the performance…

Marginal Relief

Marginal relief restricts your Income Tax payable to 40% of the difference between your total…

Maternity Benefit Act

An Act to regulate the employment of women in certain establishments for certain periods before…

Maternity Leave

Maternity Leave is a paid leave/absence from work provided by an employer to a woman…

Matrix Organization

A matrix organization is a work structure where team members report to multiple leaders. In…

Mentoring

Mentoring can be formal or informal. In an informal environment, mentees set goals, but they…

Merit Pay

Merit pay or performance based pay is the incentive an employee receives as a bonus,…

Micromanagement

Micromanagement is a counter-productive management style characterized by such behaviors as an excessive focus on…

Mock Interview

A mock interview is an emulation of a job interview used for training purposes. The…

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Notice Period

Notice period in job is the time between the date of resignation and the last…

Net Pay

Net pay means take-home pay or the amount employees earn after all payroll deductions are…

New Hire Turnover

New hire turnover refers to the number of employees who leave a company within their…

New-Hire Reporting

A new hire report is sent in by the hiring employer, and only includes a…

Nominal Group Technique { NGT }

Nominal (meaning in name only) group technique (NGT) is a structured variation of a small-group…

Non Disclosure Agreement

NDAs, or non-disclosure agreements, are legally enforceable contracts that create a confidential relationship between a…

Non Discretionary Bonus

Non-discretionary bonuses are a sort of pay that might be expected from a worker. For…

Non Exempt position

Non exempt employees are workers who are entitled to earn at least the federal minimum…

Non Taxable Allowance

Non-taxable allowances are an additional amount of money given to employees on their regular salary.…

Normalize Rating

Normalize Rating is a holistic approach to managing individual employee performance. It calculates and compares…

Notice Buyout

In case an employee has to leave the job on an urgent basis due to…

National Pension Scheme {NPS}

The National Pension System is a defined-contribution pension system in India regulated by Pension Fund…

Negligent Hiring

Negligent hiring is a claim that can be made against an employer when an employee…

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Organization

an organized group of people with a particular purpose, such as a business or a…

Organization Development { OD }

Organization development (OD) is an effort that focuses on improving an organization’s capability through the…

Organization Tree

Organizational structure or Organization tree is a system used to define a hierarchy within an…

Organizational Change

Organizational change refers to the actions in which a company or business alters a major…

Organizational Culture

Organizational culture is the set of values, beliefs, attitudes, systems, and rules that outline and…

Organizational Team

A team involves at least two or more people. Organizational teams have no different definition.…

Orientation

the action of orienting someone or something relative to the points of a compass or…

Outsourcing HR

Outsourcing in human resource management, or HRM, is the act of hiring an external firm…

Overtime

Overtime refers to any hours worked by an employee that exceed their normally scheduled working…

On Roll / Off Roll Payroll

If the employee is under the on-roll payroll model, he is eligible to receive employee…

One on One Meeting

A 1:1 meeting (pronounced one-on-one or one-to-one meeting) is a regular check-in between two people…

One Time Payments & Deductions

A one-time payment is a single payment to an employee outside of their regular salary.…

Oral Reprimand

An oral reprimand is a verbal warning that a supervisor or manager gives to an…

Observation Interview

An observation interview is a type of job interview that an employer or recruiter can…

Occupational Stress

Occupational stress is psychological stress related to one’s job. Occupational stress refers to a chronic…

Offer Acceptance

Offer acceptance is the final agreement between an employer and an employee regarding a job…

Offer Letter

An offer letter is a document which is given to a candidate after he has…

Offer Letter Acceptance Rate

The metric that measures the rate at which job offers are accepted by selected employees…

Offer Management

Offer Management refers to the complete process that starts from the candidate’s interview and ends…

Ombudsman

an official appointed to investigate individuals’ complaints against a company or organization, especially a public…

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Pro-Rata

Pro rata is a Latin term used to describe a proportionate allocation. It essentially translates…

Probation Period

A probation period is essentially a trial period of employment during which someone is employed…

Probationary Arrangement

A probationary arrangement is an agreement both an employer and employee share that states the…

Professional Fees

A professional fee is a price paid in exchange for receiving professional services.

Professional Tax

Professional tax is a direct tax that is deducted from your gross salary by your…

Promotion

Promotions refer to the entire set of activities, which communicate the product, brand or service…

Provident Fund { PF }

It is a scheme for salaried employees to invest during work life and enjoy the…

Psychometric Test

A psychometric test is used to assess a candidate’s cognitive ability and their personality.

Public Provident Fund { PPF }

The Public Provident Fund (PPF) is a savings-cum-tax-saving instrument in India, introduced by the National…

Pulse Survey

A pulse survey is a brief and regular set of questions sent to employees. As…

Purple Squirrel

Purple squirrel is a term used by employment recruiters to describe a job candidate with…

Purple Unicorn

Purple Unicorn is a term used to describe a candidate profile that possesses the skills…

Pre-Boarding

Preboarding is the step before onboarding, when new hires get to meet the organization and…

Pre-Employment Testing

Pre-employment tests are an objective, standardized way to gather more information about your candidates during…

Pre-Screening

an examination to discover if there is anything wrong with someone or something, before they…

Peer Appraisal

Peer appraisal is a type of feedback system in the performance appraisal process. The system…

Peer-to-Peer Review

the process of employees being assessed by their colleagues in terms of their performance, strengths…

People Analytics

People analytics is the collection and application of talent data to improve critical talent and…

Performance Analysis Quadrant { PAQ }

It is a tool utilized to navigate the most optimal solution for such circumstances.

Performance Appraisal

A performance appraisal is a systematic and periodic process of measuring an individual’s work performance…

Performance Bands

Performance bands are used to categorize a student’s performance on a test. Each band is…

Performance Development Plan { PDP }

The Performance and Development Plan (PDP) is a tool for facilitating communication between a supervisor…

Pay Grade

A pay grade is a method of compensating employees for their work based on their…

Performance Planning

Performance planning is a systematic and structured approach to successfully achieve the desired goals of…

Pay Register

Pay register is a record of all the Payroll details of each employee for a…

Perks

Perks are special benefits that are given to people who have a particular job or…

Payments of Wage Act

The Payment of Wages Act, 1936 was enacted with a view to ensuring that. wages…

Pink Slip

A pink slip notifies an employee that they have been laid off or fired. The…

Payroll

Payroll is the compensation a business must pay to its employees for a set period…

PIP

A performance improvement plan (PIP) is a document that aims to help employees who are…

Payroll Outsourcing

Outsourcing payroll means entrusting an external payroll service provider with the administration of payroll processes…

Payroll Reconciliation

Payroll reconciliation is the process of verifying that the records and information supporting a company’s…

Payslip

A payslip is a piece of paper given to an employee at the end of…

Paid Leave

Paid leave refers to the time that an employee takes off from their job due…

Paid Time Off { PTO }

PTO, short for Paid Time Off, is a period of time that an employee can…

Partial Payments

Partial payment means a payment that is less than the full amount due. Other terms…

Passive Candidate

A passive candidate is someone an employer is considering for a certain position, but who…

Pay Band

A pay band typically refers to a range of salaries available for a particular job…

Pay Cycle

The payroll cycle, sometimes also called pay cycle, is the time that passes between two…

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Qualified Domestic Relations Order (QDRO)

The QDRO gives the participant’s spouse a percentage of the participant’s contract investment, with the…

Quality of Hire

The quality of hire (QoH) is a measure of the value new hires bring to…

Queen Bee Syndrome

“Queen Bee Syndrome” occurs when female employees in high-ranking positions or those with higher authority…

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Rewards and Recognition (RnR)

Rewards and recognition refer to the various means through which organizations acknowledge and appreciate the…

Right to Manage

The right to manage is a fundamental human right that enables people to take control…

Risk Management

There is no way to avoid risk in business. Risk management is anticipating and preparing…

Roles and Responsibilities

Later, that information can be used to classify candidates, and even rate them. It helps…

Roster Management

Roster management is the process of managing employee shift assignments, working hours, and leave. It…

Rotational Training

Rotational training is a process by which employees are given the opportunity to rotate through…

Retention Strategy

Retention strategies are policies and plans that organisations follow to reduce employee turnover and attrition…

Retrenchment

Retrenchment is a process used by companies to reduce their workforce by terminating the employment…

Retro Pay

The definition of retro pay (short for retroactive pay) is compensation added to an employee’s…

Reverse Mentoring

Reverse mentoring is when a more junior employee mentors someone more senior than them. The…

Review Process

The review process is the procedure where reporting manager or team leader evaluates employees’ accomplishments…

Reviewee

Reviewee is the person who is reviewed. To review means to verify or evaluate the…

Reviewer

A reviewer is a person who reviews or examines the given task. He verifies whether…

Remote Interview

Remote Interviews are ones where an interviewer and a candidate are located in a different…

Requisition

Typically, the word “requisition” means a written demand or request. Therefore, a job requisition is…

Resident Alien

A Resident Alien, also known as a Permanent Resident, is an individual who is not…

Resignation

An exit interview is the final meeting with a resigning or terminated employee. Usually conducted…

Reconciliation

n finance, reconciliation is the process of matching two records with each other to conclude…

Restricted Holiday

Restricted holiday means a holiday that is optional, and it is the discretion of the…

Recruiting Metrics

Recruiting metrics are measurements used to track hiring success and optimize the process of hiring…

Resume Parser

Resume parsing is the process of taking candidate information from CVs and turning it into…

Recruitment Funnel Effectiveness

A recruitment funnel is a structure that helps a recruiter shape the recruitment process step…

Resume Parsing

Resume Parsing is conversion of a free-form resume document into a structured set of information…

Recruitment Process Outsourcing

Recruitment process outsourcing (RPO) is a form of business process outsourcing (BPO) where an employer…

Retention Rate

Employee retention rate is a metric that measures the percentage of employees who remain employed…

Reduction in Force

Reduction in force (RIF) is when companies reduce the number of employees through layoffs, furloughs,…

Redundancy

Redundancy is a form of dismissal that occurs when a job no longer exists or…

Reference Check

A reference check is when a hiring manager, employer, or recruiter contacts a job candidate’s…

Referral Rate

The employee referral rate is the ratio of employees employed to candidates referred by employees…

Reimbursement

Reimbursement is when a business pays back an employee, client, or other people for money…

Rejection

Rejection is an action or a response of refusal by a recruiter or an employer…

Relieving Letter

A relieving letter is a formal document issued by an employer to an employee who…

Rating Scale

A rating scale is a measurement tool or a system used to assess and evaluate…

Reasonable Person Standard

The reasonable person standard refers to a hypothetical, average person’s reaction to the actual circumstances…

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Summary Dismissal of Employment

A summary dismissal of employment is the immediate termination of an employee due to their…

Surcharge

Surcharges are a way for the employer to recover a portion of the cost of…

SWOT Analysis

Strengths and weaknesses are internal factors within the organization that can be controlled. Opportunities and…

System Changeover

A system changeover is the process of transitioning from one system to another. This can…

Systemic discrimination

Systemic discrimination is a form of discrimination that takes place in institutions or systems. It…

Social HR

Social HR is the practice of using social media to perform HR functions. HR professionals…

Succession Planning

Succession planning is the process of identifying the critical positions within your organization and developing…

Social Media Background Screening

A pre-employment social media screening (also called a social media background screening) is the practice…

Social Media Recruiting

Social media screening is the process of researching and analyzing your candidate’s online presence to…

Soft Skills vs Hard Skills

Hard skills are related to specific technical knowledge and training while soft skills are personality…

Source Of Hire

Source of Hire (SOH) is the metric to determine the percentage of the overall hires…

Sourcing

Sourcing, or Candidate sourcing is identifying top talent who possess the required qualifications, skills, interests,…

Sourcing Channel Effectiveness

Sourcing channel effectiveness measures how much each of the sourcing channels (e.g., job boards, recruitment…

Split Placement

Split Placement is the situation where two or more recruiters work together and serve a…

Staffing

Staffing is the process of identifying the roles and organization required to meet operational and…

Statutory Employee

A statutory employee refers to an independent contractor who is qualified as an employee for…

Statutory Leave

Statutory annual leave is the legal minimum amount of paid leave that almost all employees…

Stipend

A stipend is a regular fixed sum of money paid for services or to defray…

Strategic Hiring

Strategic hiring is a process of identifying and hiring employees who will help an organization…

Skill Matrix

A skills matrix is a framework used to map employees’ skills and their levels. It’s…

Strategic Human Resource Management

Strategic human resource management (SHRM) can be defined as the process of managing people in…

Skills Gap

Skills gap refers to the disparity between the skills an employer expects their employees to…

Strategic Planning

HR strategic planning involves the identification of and response to HR functional and talent risks…

Smart Goals

Human resource managers can use specific, measurable, achievable, realistic and timely (SMART) goals to streamline…

Sub Ordinates

A subordinate is someone who is in a secondary rank. In a business setting, a…

Selection Ratio

The selection ratio refers to the number of hired candidates compared to the total number…

Self Review

Self-review is the method of self-evaluation. It is a procedure to observe, analyze and calculate…

Self-Employed Health Insurance Deduction

The self-employed health insurance deduction is a tax deduction specially available to certain self-employed individuals…

Self-Employment Tax

The self-employment tax is a federal tax paid by freelancers, independent contractors, small business owners,…

Sensitivity Training

Sensitivity training refers to one of the organizational development techniques which through counseling methods works…

Severance Pay

Severance pay is the amount a company pays to its employees after completion of employment.…

Shops And Establishment Act

The Maharashtra Shops and Establishments (Regulation of Employment and Conditions of Service) Act, 2017 came…

Short Leave

Short Leave is the time off taken by an employee for a very short time…

Shortlisting

Shortlisting is the process of identifying the candidates from your applicant pool who best meet…

Salary Increment

A salary increment is an increase in an employee’s annual pay in the form of…

Shrinkage

Shrinkage is defined as the time during which people are paid during which they are…

Salary On Hold

Salary on hold refers to a situation where an employer temporarily suspends or delays the…

Sick Leave

An employee is entitled to sick leave or paid sick leave if an employee is…

Salary Revision

Salary revision is a process of reviewing and updating an employee’s salary or compensation package…

Signatory

A signatory is a person authorized to sign documents on behalf of the company or…

Salary Structure

A salary structure is the framework to determine how employees are paid at UW–Madison. Jobs…

Situational Leadership

Situational Leadership is an adaptive leadership style, wherein the leaders adopt a style that works…

Satisfaction Rate

The employee satisfaction rate is a metric to measure the satisfaction level of employees working…

Scorecard

The HR scorecard is a strategic HR measurement system that helps to measure, manage, and…

Screening

Screening is the process of evaluating job applications, scanning resumes and selecting suitable candidates that…

SAAS

HR Software-as-a-Service (SaaS), also known as cloud HR software, is a subscription-based service used for…

Sabbatical

The sabbatical definition is “a break from work” during which employees can pursue their interests,…

Salaried Employee

A salaried employee is one who receives a fixed amount of compensation regardless of the…

Salary

Salary is defined as the decided monetary amount that an employer offers an employee in…

Salary Advances

Salary advances are short-term loans given to employees that are deducted later from future salaries.…

Salary Breakup

A salary breakup structure or a CTC (cost-to-company) breakup structure is the structure in which…

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Termination Letter

A letter of termination is a formal notice to inform an employee they will be…

Third-Party Sexual Harassment

Third-party sexual harassment is harassment committed by someone else who is not an employee of…

Time in Lieu

Time In Lieu (TIL) is time off which staff are allowed to take for hours…

Time to fill

Time to fill is the amount of time you need to fill a position. This…

Time to Hire

ime to hire is a common recruiting metric. It measures the number of days between…

Time to Productivity

Time to productivity is a metric that measures how long it takes a new hire…

Total Labour Cost

Total Labour Cost is also known as Labour cost. It is the total expenditure spent…

Total Quality Management

Total quality management (TQM) is a management approach that seeks to improve quality and performance…

Total Remuneration

Total remuneration is the complete sum of an employee’s annual compensation package. Typically, it includes…

Traces

TDS Reconciliation, Analysis, and Correction Enabling System – TRACES is a web-based application of the…

Training and Development

IT refers to a system of educating employees within a company. It includes various tools,…

Training Needs Analysis { TNA }

Training Needs Analysis (TNA) is the process in which the company identifies training and development…

Turnover costs

Turnover cost is the expense of replacing people who leave an organization during a specified…

Telecommuting

Telecommuting is a work arrangement that allows employees to work remotely, usually from home or…

Temp to Hire

A temp to hire is a position in which an individual or an employee is…

Talent

A talent is a person who has the aptitude or skill to do something well.…

Talent Acquisition

Talent acquisition is the process of identifying organizational staffing needs, recruiting qualified candidates and selecting…

Talent Management

Talent management is the attraction, selection, and retention of employees, which involves a combination of…

Talent Pipeline

A talent pipeline is defined as a ready pool of potential candidates who are qualified…

Talent Pool

a talent pool is a database of potential job candidates. The workers included in the…

Talent Retention

Talent retention is the process of keeping your best employees from leaving. Companies need to…

TAN

The Tax Deduction and Collection Account Number (TAN) is a unique ten-digit alpha-numeric code, assigned…

Tangible Rewards

Tangible rewards are rewards that can be seen and quantified—such as vouchers, cash bonuses, a…

Tax Deduction at Source { TDS }

TDS or Tax Deducted at Source is an income tax that is collected from certain…

Tax Regime

Tax regime refers to the set of rules, regulations, and policies established by a government…

Tax Savings

A tax saving is a reduction in the amount of taxes paid by an individual,…

Taxable Allowance

Taxable allowances are part of an employee’s salary which are taxable under the Income Tax…

TDS Return

TDS stands for Tax Deduction at Source. It is a type of tax applicable only…

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Unconscious Bias

An unconscious bias is a prejudice or stereotype individuals hold about certain groups of people…

Unemployment

Unemployment is a term referring to individuals who are employable and actively seeking a job…

Unfair Labor Practice

any of various acts by an employer or labor organization that violate a right or…

Universal Account Number { UAN }

The Universal Account Number (UAN) is a number assigned to all salaried employees who contribute…

UpSkill

UAN stands for Universal Account Number to be allotted by EPFO. The UAN will act…

Upskilling

Upskilling is a workplace trend that facilitates continuous learning by providing training programs and development…

Upward Mobility

Upward mobility measures the frequency a person changes their socioeconomic status. A high rate of…

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Vacancy Rate

Vacancy rate is the percentage of built space in the markets that are currently unoccupied…

Value statement

A values statement lists the core principles that guide and direct the organization and its…

Variable Pay

Variable Pay is the portion of sales compensation determined by employee performance. When employees hit…

Vestibule Training

Vestibule training is on-the-job training in which technical personnel are taught how to utilise tools…

Virtual Meeting

A virtual meeting is a form of communication that enables people in different physical locations…

Vision Statement

A vision statement is a declaration of an organization’s short, medium, and long-term goals, describing…

Voluntary Benefits

Voluntary benefits are employee benefits paid for by the employee rather than the employer, although…

Voluntary Provident Fund (VPF)

It is always to build a retirement fund while you have a regular income and…

Voluntary Time-Off (VTO)

VTO can refer to one of two leave categories: voluntary time off or volunteer time…

Voluntary Turnover Rate

When an individual leaves a position voluntarily, it could be because they found another employment,…

Volunteer Time Off

Volunteer Time Off gives flexibility to your employees volunteering during the workday and getting paid.…

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Workforce Management { WFM }

The goal of doing a workforce analysis is to maintain adequate employment levels in order…

Workforce Planning

Workforce Planning is the process of analyzing, forecasting, and planning workforce supply and demand, assessing…

Workplace Bullying

Workplace bullying can be defined as the repeated less favorable treatment of a person by…

Workplace Diversity

Workplace diversity refers to a workplace that includes employees of many sexes, genders, races, ethnicities,…

Wrongful Termination

Wrongful Termination happens when an employer terminates an employee’s employment contract but does so in…

Work Ethics

Work ethics can be defined as moral rules that an organization and its constituents follow…

Work From Home { WFH }

WFH is an acronym for “work from home”, which describes a modern working arrangement where…

Workforce

Workforce refers to the total number of people who are employed in a specific company,…

Workforce Analysis

Workforce analysis (also called workforce planning) is a process that uses both employee and ROI…

Wage drift

Wage drift is defined as the difference or change in a worker’s actual wage compared…

Walk-in

A walk-in is when a client, employee, or interviewee arrives at a location without making…

War of Talent

Companies are engaged in a “war for talent” in order to attract the best and…

Warning Letter

A warning letter is a formal document issued by an employer under the Human Resources…

Weekly Off

It can be summarized as any day during the entire week when your workers are…

Weingarten Rights

Weingarten rights guarantee an employee the right to Union representation during an investigatory interview. These…

Wellness Program

A wellness program is an organized and coordinated program that tries to improve a person’s…

White Collar vs Blue Collar Workers

Blue-collar workers, for example, typically undertake manual labor and are paid by the hour or…

Work Behaviour

Work behavior refers to activities employees perform to meet the responsibilities and goals of their…

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X-Ray Search

X-raying is the process of using a general search engine, such as Google, to search…

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Year-end Processing

Year-end, also known as a financial year or fiscal year-end, is the end of the…

Yellow Dog Contract

A yellow-dog contract (also known as an ironclad oath) is an agreement between an employer and…

Yield Ratio

Yield ratios are recruiting metrics that measure how many applicants go from one stage to…

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Zoom Fatigue

Zoom fatigue is tiredness, worry, or burnout associated with the overuse of online platforms of…