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List of A-Z Human Resource (HR) Jargons

HR Lineup

Compensation: The financial rewards and benefits that employees receive for their work, including salary, bonuses, commissions, and stock options. Job Analysis: The process of examining and documenting the specific duties, responsibilities, and qualifications required for a particular job position.

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Building Trust Through Transparency: The Total Compensation Statement Sample Explained

COMPackage

Understanding the Total Compensation Statement A TCS is a detailed document that breaks down an employee’s compensation package into its various components. Incentive Compensation: Any bonuses, commissions, or other performance-based pay.

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What you can and can’t do when employees discuss wages

Insperity

However, these inconsistencies should be documented as part of a pay structure analysis. Commissions. Once you determine how and what you’re going to pay employees for specific work, that information should be documented and used by hiring managers. When determining compensation, there are a number of variables to consider.

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How Payroll Contributes to Company Culture

Achievers

A trustworthy, reputable and qualified payroll team prevents fraud, maintains compliance and submits critical documentation to strict deadlines. A performance-based pay model means your employees get compensated for their commission and target-based bonuses, meaning employees are satisfied that their pay is 100% accurate.

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How to handle compensation during uncertain times

Insperity

You have the option to end bonuses that employees can earn – usually on a quarterly, semiannual or annual basis – for meeting predetermined performance criteria. Otherwise, you could face charges of discrimination and find your company the subject of a complaint with the Equal Employment Opportunity Commission (EEOC).

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What are the top features and benefits of payroll software?

cipHR

Saves time – Payroll software automates the payroll processes, which means the system can perform all types of payments for your employees including hourly pay, overtime, commissions, bonuses and more – reducing the risk of errors – and allows cut-off dates to be closer to pay day.

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How to Effectively Manage Payroll Services?

Qandle

When you document all of your payroll administration procedures in a handbook, you can periodically audit them and look for ways to enhance them. Remember to account for any additional payments you may make, such as end-of-year bonuses, when creating a budget and arranging payroll. Keep track of your payroll procedures.