Pay Band
A pay band is a structured salary range set for specific job grades or levels within an organization. It includes a minimum, midpoint, and maximum pay limit. Pay bands help ensure fair compensation and maintain internal salary consistency.
Paid Day
A paid day is any day for which an employee is entitled to receive wages. It may include regular working days, approved paid leave, or public holidays. Paid days are counted when calculating salary, benefits, and attendance records.
Overtime in Cost Accounting
Overtime in cost accounting means additional wages paid to employees for working beyond regular hours. These extra costs are recorded separately to determine their impact on production expenses. Proper treatment of overtime helps in accurate cost calculation and pricing decisions.
Organizational Decentralization
Organizational decentralization refers to distributing decision-making power to lower or middle levels of management. Instead of central authority controlling all decisions, managers and teams are given more autonomy. This approach improves flexibility, faster decision-making, and employee involvement.
Organization Tree
An organization tree is a graphical representation of a company’s structure. It displays reporting relationships, job roles, and departmental hierarchy. This chart helps employees understand authority levels and communication flow within the organization.
One on One Session
A one on one session is a scheduled meeting between a manager and an employee. It provides an opportunity to discuss performance, challenges, goals, and professional growth. Regular one on one sessions help build trust, improve communication, and enhance employee engagement.
Objectives of HR Audit
The objectives of an HR audit are to review and assess the effectiveness of HR policies, procedures, and practices. It ensures compliance with labor laws and organizational standards. An HR audit also identifies gaps and recommends improvements for better performance and strategic alignment.
Muster Roll
A muster roll is a document or register that records employee attendance and work details. It includes information such as employee names, days worked, and wages payable. Organizations use muster rolls to maintain accurate payroll and comply with labor regulations.
Minimum Wage Act
The Minimum Wages Act, 1948 is a labor law that fixes the minimum wage employers must pay workers in certain sectors. It aims to prevent exploitation and ensure fair compensation. Governments revise minimum wage rates periodically based on economic conditions.
Lateral Move
A lateral move is when an employee shifts to another position within the organization at the same job level. It usually does not involve a promotion or pay raise. Lateral moves help employees gain new skills and broaden their experience.
Labour Union
A labour union is an association of employees formed to safeguard their rights and interests. It represents workers in negotiations with employers regarding wages, benefits, and working conditions. Labour unions play a key role in collective bargaining and workplace dispute resolution.
Key Result Area
A Key Result Area (KRA) outlines the critical tasks and objectives linked to an employee’s job role. It clarifies expectations and performance priorities. Organizations use KRAs to evaluate performance and align individual contributions with business goals.
Intangible Rewards
Intangible rewards are non-financial forms of recognition given to employees for their contributions. Examples include verbal appreciation, public acknowledgment, flexible work options, or career advancement opportunities. These rewards boost morale, engagement, and long-term job satisfaction.
Inpatriate
An inpatriate is a professional who moves from an overseas branch of a company to its headquarters or home office. This transfer helps share global knowledge and align international operations. Inpatriates often bring diverse perspectives and cross-cultural expertise to the organization.
Indirect Compensation
Indirect compensation includes the additional benefits employees receive beyond their base salary. Examples include health insurance, retirement contributions, paid time off, and wellness programs. These benefits enhance overall compensation and improve employee satisfaction and retention.
ICHRA
ICHRA stands for Individual Coverage Health Reimbursement Arrangement. It allows employers to reimburse employees tax-free for individual health insurance and qualified medical expenses. This flexible benefit option gives employees more control over their healthcare choices.
Hybrid Organization
A hybrid organization operates with a mix of remote and on-site employees. It allows teams to work from home on certain days while collaborating in the office when needed. This model supports flexibility, work-life balance, and efficient resource utilization.
HR Automation
HR automation involves using digital tools to manage repetitive human resource tasks efficiently. It reduces manual work in areas such as payroll processing, attendance tracking, and employee record management. By automating HR functions, organizations improve accuracy, save time, and enhance employee experience.
Headhunter
A headhunter is a recruiter who identifies and contacts high-level or hard-to-find candidates for specific job openings. Unlike traditional recruiters, they often approach passive candidates who are not actively job hunting. Headhunters commonly work on executive or niche hiring assignments.
GAG in HR
GAG in HR typically refers to a gag clause included in employment contracts or agreements. It prevents employees from disclosing confidential, proprietary, or sensitive information. Organizations use such clauses to protect trade secrets and maintain data security.
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