Payment in advance is a financial arrangement in which the buyer pays the seller before goods are shipped or services are provided. This method reduces the seller’s risk of non-payment but increases the buyer’s risk if delivery is delayed or not fulfilled. It is often used in international trade or high-risk transactions.
Parental leave is the period of job-protected time off work given to parents after the birth or adoption of a child. It allows them to care for their newborn or newly adopted child without risking job loss. The length and pay during parental leave vary by country, employer policies, and local labor laws.
A parallel run is a process used when introducing a new system, such as payroll or software, by running it alongside the existing one. This allows businesses to compare outputs, identify errors, and ensure the new system works correctly before fully switching over. It minimizes risks during system migration or process changes.
An operating budget is a financial plan that estimates a company’s projected revenues and expenses for a specific time, usually a year. It covers day-to-day costs such as salaries, rent, utilities, and supplies. Businesses use operating budgets to monitor performance, control spending, and plan for profitability.
An open account is a payment arrangement in international or domestic trade where a seller ships goods before receiving payment. The buyer pays at an agreed future date, often 30–90 days later. While this method benefits buyers with flexible terms, it poses higher financial risk for sellers without upfront payment guarantees.
On-call employment is a work arrangement where employees are only called in when needed rather than having fixed schedules. It provides flexibility for employers to manage peak demand but often leads to irregular hours for workers. This model is common in healthcare, hospitality, and service industries.
Occupational Health and Safety (OHS) is the system of laws, policies, and practices designed to keep employees safe at work. It covers areas such as hazard prevention, workplace ergonomics, safety training, and compliance with legal standards. Strong OHS programs reduce accidents, improve employee well-being, and ensure a safer work environment.
The O1B visa is a U.S. non-immigrant visa specifically for people with exceptional talent in the arts or outstanding accomplishments in the film and television industry. It allows these individuals to work in the U.S. for a particular employer, project, or production. This visa is often sought by artists, actors, musicians, and other creative professionals.
An O-1 visa is a U.S. non-immigrant visa granted to individuals who demonstrate extraordinary talent or achievement in areas such as science, arts, education, business, or sports. It allows these professionals to work in the U.S. temporarily under a specific employer or project. This visa is often used for top performers, researchers, and highly skilled specialists.
A notice period is the duration an employee must work after resigning or being terminated before leaving a company. It allows employers time to find a replacement and ensures knowledge transfer. The length of a notice period often depends on company policy, job role, or employment laws.
A non-employee refers to someone who works for a company but is not classified as a regular employee. This category includes contractors, freelancers, vendors, and consultants. They typically receive payments through invoices or contracts rather than payroll and do not get standard employee benefits.
The mobility department is the team responsible for handling employee relocations, global assignments, and related compliance tasks. They manage visas, work permits, tax considerations, and cultural support to make international moves seamless. This function is key for companies with global operations.
Master Data Management (MDM) is the process of organizing and maintaining a company’s critical data across multiple systems. It helps ensure consistency, accuracy, and reliability of information like customer, product, or financial data. By using MDM, businesses can avoid errors, improve compliance, and make better decisions.
The marginal revenue formula calculates the additional income a company earns from selling one more unit of a product or service. It is found by dividing the change in total revenue by the change in quantity sold. Businesses use this formula to guide pricing strategies and maximize profits.
Managed payroll is a service where a company delegates its payroll responsibilities to an external provider. The provider handles salary calculations, tax withholdings, benefits administration, and compliance reporting. This approach saves time, reduces errors, and ensures payroll is processed accurately while freeing HR teams to focus on strategic tasks.
Malicious compliance happens when someone deliberately follows orders or rules to the letter, even when they know it will create inefficiency, errors, or unintended consequences. It’s often used as a form of passive resistance in workplaces where employees feel unheard or frustrated. While technically obeying instructions, malicious compliance can highlight poor management or flawed policies.
Labor laws are a set of rules established by governments to regulate the relationship between employers and employees. They cover areas such as minimum wage, working hours, overtime, leave entitlements, health and safety, and employee termination. These laws ensure fair treatment, protect workers’ rights, and provide guidelines for businesses to remain compliant.
Job classification is an HR method used to organize jobs into structured categories or levels based on their responsibilities, duties, and required qualifications. It helps ensure fair compensation, career progression, and compliance with labor regulations. By standardizing roles, job classification makes it easier to compare positions, set pay scales, and manage workforce planning.
A job board is a website or platform that connects employers with potential employees by listing available job opportunities. Employers use job boards to reach a wide talent pool, while job seekers use them to search and apply for roles across industries. Popular examples include Indeed, LinkedIn Jobs, and Glassdoor.
An invoice is an official document that a seller issues to a buyer to request payment for goods or services delivered. It typically includes details like item descriptions, quantities, prices, taxes, invoice date, and payment terms. Invoices serve as both a payment request and a financial record for accounting and tax purposes.