Globally ranked 1 HRMS, Payroll and EOR for ease of use

Variable Pay in CTC

Variable pay in CTC (Cost to Company) refers to the portion of salary that depends on performance or predefined goals. It may be tied to individual targets, team outcomes, or company profitability. Unlike fixed pay, variable pay is not guaranteed and can vary each payout period.

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Recruitment

Recruitment refers to the steps a company takes to identify and hire suitable candidates for open roles. It includes job postings, screening applications, interviewing, and making offers. Effective recruitment helps organizations build skilled and productive teams.

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Journal Voucher

A journal voucher is used to document accounting entries that don’t involve immediate cash transactions. It supports adjustments such as accruals, corrections, or internal transfers. Journal vouchers help maintain accurate and traceable financial records.

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IT Declaration

An IT declaration is a statement provided by employees to their employer outlining expected tax-saving investments and eligible expenses. It helps the payroll team calculate accurate tax deductions from salary. Employees typically submit it at the beginning of the financial year and provide proof later.

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HR Audit

An HR audit evaluates a company’s HR processes, documentation, and compliance with labor laws. It helps identify gaps, reduce legal risks, and improve efficiency. Organizations use HR audits to ensure best practices in hiring, payroll, benefits, and employee management.

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Freemium

Freemium combines “free” and “premium” pricing strategies. Users can access core features at no cost, but must pay for additional tools, enhanced capabilities, or an ad-free experience. This model helps businesses attract large user bases and convert a portion into paying customers.

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Allyship

Allyship involves using one’s influence or privilege to stand up for others facing discrimination or exclusion. In the workplace, allies promote inclusion, challenge bias, and support equitable policies. Effective allyship requires ongoing learning, listening, and meaningful action.

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Ageism

Ageism refers to unfair treatment or stereotypes directed at someone because of their age. In the workplace, it can impact hiring decisions, promotions, training opportunities, or termination. Laws in many countries prohibit age-based discrimination to promote equal opportunity.

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Backfill Position

A backfill position is created or filled to cover the responsibilities of an employee who is absent or has moved to another role. It ensures business operations continue without disruption. Backfills may be temporary or permanent, depending on the situation.

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Week Off

A week off refers to designated days when an employee is not required to work, often as part of a regular weekly schedule. In some regions, it commonly means one fixed day off each week. Week offs help prevent burnout and support employee well-being.

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Unstructured Interview

An unstructured interview is a conversational hiring approach without a fixed set of questions. Interviewers adapt questions based on the candidate’s responses. While it allows deeper exploration, it may lead to less consistency compared to structured interviews.

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Underwriter

An underwriter assesses the level of risk involved in providing insurance coverage, issuing loans, or selling securities. They review applications, financial data, and other relevant information to decide approval terms and pricing. Their role helps organizations manage risk and maintain financial stability.

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