The Faster Payment Service (FPS) is a UK-based payment system that allows near-instant transfers between participating bank accounts at any time of day. It was introduced to speed up domestic payments, supporting real-time transactions for individuals and businesses while reducing reliance on traditional bank processing times.
The Fair Workweek refers to labor laws designed to promote predictable and fair scheduling practices for hourly workers. These regulations require employers to provide advance notice of work schedules, compensate for last-minute changes, and ensure adequate rest between shifts, improving work-life balance and job stability.
An Employee Stock Ownership Plan (ESOP) is a benefit program that grants employees partial ownership of the company through shares. It helps boost engagement and retention by allowing employees to benefit directly from the company’s success, often serving as a long-term incentive or retirement benefit.
An equity joint venture is a partnership in which two or more companies contribute capital to form a new, jointly owned business entity. Each partner holds equity based on their investment and shares in the venture’s profits, losses, and management decisions, often to expand into new markets or share resources.
Employee turnover refers to the rate at which employees leave an organization and are replaced by new hires. It can result from resignations, terminations, or retirements, and is a key HR metric for understanding employee satisfaction, retention, and overall organizational health.
An employee pulse survey is a quick, recurring survey designed to gauge how employees feel about their work, leadership, and company culture. It provides real-time insights into engagement and morale, helping organizations identify issues early and take timely action to improve retention and performance.
An employee portal is a secure online platform where staff can access HR services, payroll, benefits, and company information anytime.
Employee performance coaching is a structured process where managers or coaches work with employees to enhance their skills, productivity, and professional growth. It focuses on setting goals, identifying improvement areas, and providing regular feedback to boost both individual and organizational performance.
Employee mobility is the ability of workers to move between roles, departments, or geographic locations within an organization or across companies. It includes internal transfers, promotions, and global assignments, helping businesses develop talent, increase flexibility, and support career growth.
Employee experience refers to the overall perception employees have of their interactions with a company throughout their employment journey. It includes factors like workplace culture, leadership, communication, technology, and growth opportunities, all of which influence engagement, retention, and performance.
EEO-1 reporting is a mandatory annual filing for U.S. employers with 100 or more employees (or federal contractors with 50+), detailing workforce demographics by race, gender, and job category. It helps the Equal Employment Opportunity Commission (EEOC) monitor diversity, detect discrimination, and promote fair workplace practices.
The EB2 NIW (National Interest Waiver) Visa is a U.S. employment-based green card category for professionals with advanced degrees or exceptional abilities. It waives the job offer and labor certification requirements if the applicant can show that their work benefits the national interest of the United States.
Disability insurance is a benefit that replaces a portion of an employee’s income if they become unable to work because of illness or injury. It can be short-term or long-term, helping employees maintain financial security while they recover and prepare to return to work.
Direct deposit is a secure electronic process that allows employers to send employees’ paychecks directly to their bank accounts. It eliminates paper checks, speeds up payroll processing, and ensures employees receive their wages on time, even on holidays or remote schedules.
Direct compensation refers to the monetary payments employees earn for their labor, such as base salary, hourly wages, commissions, and performance bonuses. It is the most visible part of total compensation and directly rewards employees for their contributions to the organization.
Deferred compensation is a portion of an employee’s earnings that is paid at a future date instead of immediately, usually to reduce taxes or serve as a long-term incentive. Common examples include retirement plans, stock options, and performance-based bonuses, often used to retain key employees.
A Certified Professional Employer Organization (CPEO) is a PEO that has met strict IRS standards for financial stability and tax compliance. CPEOs handle payroll, benefits, and HR administration for client businesses, ensuring accurate tax filings and reducing employer liability under federal regulations.
A Cost of Living Adjustment (COLA) is a periodic salary increase made to offset the impact of inflation and rising living expenses. Employers, governments, or pension programs use COLA to ensure that wages or benefits keep pace with changes in the cost of goods, housing, and services.
A correspondent banking network is a system where banks maintain relationships with other banks worldwide to facilitate cross-border payments and transactions. It allows smaller or regional banks to access global financial systems, enabling services like international wire transfers and foreign currency exchanges.
Core HR refers to the essential human resource functions that handle employee information, payroll, benefits, and legal compliance. It focuses on administrative efficiency and recordkeeping, serving as the foundation for more strategic HR activities like performance management and talent development.