Redundancy pay is the financial compensation that employers offer employees when removing their positions from the organizational structure. Ideally, organizations will always need all their employees-- recruiting, hiring, and training new people is a significant investment, after all. However, external…
Statutory sick pay (SSP) is a U.K.-government mandated compensation that employers pay to employees who…
Payroll software is a computer program that automates the payment process for greater efficiency and…
Deferred compensation is a remuneration model that enables employees to postpone receiving a portion of…
Compensatory time off is paid time off that employees can accrue in return for working…
A Cost-of-living adjustment (COLA) is a company-wide compensation increase that corresponds to a rise in…
A salary review is the evaluation process managers conduct to determine if their teams’ salaries…
Compensation management software is a dedicated planning system that streamlines employee data and budget planning…