RIF Full Form
The full form of RIF is Reduction in Force. It refers to the elimination of positions to reduce costs or restructure operations. RIFs are typically driven by business needs rather than individual employee performance.
Retro Adjustment
Retro adjustment is a payroll correction made to compensate employees for changes effective in earlier periods. It often occurs after salary hikes, promotions, or payroll errors. This adjustment ensures employees receive the correct pay for past work.
Requisition Form
A requisition form is a formal request submitted within an organization for approval. In hiring, it is used to request permission to fill a new or vacant role. It helps ensure proper authorization, budgeting, and documentation before action is taken.
Reference Check
Reference check involves contacting a candidate’s former managers or colleagues to confirm work experience and performance. It helps employers validate information shared during interviews. Reference checks are usually done in the final stages of hiring.
Purple Unicorn
Purple unicorn is a hiring term used to describe a candidate who meets all job requirements flawlessly. Such candidates are considered rare and often unrealistic to find. The term highlights the need for flexible hiring expectations and skill prioritization.
Pulse Survey
A pulse survey is a quick feedback tool used to gather employee opinions on a regular basis. It focuses on specific topics like engagement, well-being, or workplace culture. Organizations use pulse surveys to identify issues early and respond faster.
Public Provident Fund
PPF, or Public Provident Fund, is a government-backed savings scheme in India designed for long-term financial security. It offers attractive interest rates along with tax benefits under Section 80C. PPF is commonly used for retirement planning and wealth creation.
Peer-to-Peer Review
Peer to peer review involves colleagues reviewing and providing feedback on each other’s work or performance. It promotes transparency, shared learning, and continuous improvement. This approach is commonly used in performance management and team-based environments.
Peer Appraisal
Peer appraisal involves employees providing feedback on the performance of their colleagues. It helps assess teamwork, communication, and day-to-day collaboration. Organizations use peer appraisal to gain balanced insights beyond manager-only evaluations.
Pay Register
A pay register is a detailed payroll document that summarizes salary payments for all employees. It includes earnings, deductions, taxes, and net pay for each pay cycle. Employers use pay registers for payroll processing, audits, and compliance reporting.
PAQ
PAQ, or Position Analysis Questionnaire, is a job analysis method used to study and compare different roles. It breaks jobs into standardized elements such as skills, responsibilities, and working conditions. Organizations use PAQ to support job evaluation, compensation planning, and role design.
Organizational Commitment
Organizational commitment describes how strongly employees identify with and feel connected to their organization. It reflects their motivation to remain with the company and support its goals. High commitment often leads to better performance and lower turnover.
Onboarding in HR
Onboarding in HR refers to the structured process of welcoming and integrating new employees. It includes orientation, documentation, training, and cultural alignment. Effective onboarding helps employees become productive faster and improves retention.
Offer Management
Offer management refers to handling job offers from creation to acceptance. It includes salary approvals, offer letters, negotiations, and follow-ups. Effective offer management helps reduce offer dropouts and speeds up the hiring process.
NGT
NGT, or Nominal Group Technique, is a structured group discussion method used to generate and prioritize ideas. Participants first think independently, then share ideas with the group before voting or ranking them. It helps ensure equal participation and effective decision-making.
NDA
An NDA, or Non-Disclosure Agreement, is a legal document used to keep sensitive information private. It prevents parties from sharing confidential business, employee, or technical details. NDAs are commonly used during hiring, partnerships, and business negotiations.
Low Overhead
Low overhead means an organization has reduced fixed and administrative costs. This may include lower rent, lean staffing, or efficient use of technology. Businesses with low overhead can operate more flexibly and maintain higher profit margins.
LIFO
LIFO, or Last In, First Out, is an accounting method used to value inventory. Under LIFO, the latest inventory items purchased are assumed to be sold before older stock. This method can impact profit reporting and tax calculations, especially during inflation.
Leave Year
A leave year is the time frame an organization uses to calculate employee leave entitlements. It may follow the calendar year or the company’s financial year. Leave balances, accruals, and resets are managed within this defined period.
Leave Type
Leave types refer to the various kinds of leave employees can take under an organization’s leave policy. Each leave type serves a specific purpose, such as health, personal time, or family needs. Clear leave types help ensure consistency and compliance in leave management.
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