- Absenteeism? Definition and Causes - Absenteeism is the habitual absence of the employee from work either taking leave for a full day or through time theft which includes coming late or leaving early to/from work and even taking long breaks. In simple terms, it is nothing but an intentional and habitual absence of an employee at his or her work.
- After Tax Deductions? - Deductions subtracted from your gross earnings after federal, state and income taxes in addition to social and medicare taxes are called after tax deductions.
- Attrition? - Attrition means the reduction in the number of employees of an organization through resignation, retirement or death.
- CEA? - CEA means Child Education Allowance. Child Education Allowance is the allowance paid by the employer to educate the children of their employees.
- CL? - CL stands for Casual Leave. Casual leave is the leave granted to an employee for certain unforeseen situations where he/she is required to go on leaves to attend or look after personal matters.
- Conveyance Allowance? - Conveyance allowance is a fixed allowance granted by an employer to his employees towards the cost of travel from home to work and vice-versa.
- CTC? - CTC or Cost to Company means all the costs associated to employ an individual. CTC = Direct benefits + Indirect benefits + Saving Contributions
- Download Training Cost Per Employee Calculator Excel Template - Training Cost Per Employee Calculator is a ready-to-use excel template with predefined formulas to calculate the training cost spent on each employee. In this template, you just need to enter the total cost spent on training and the number of trainees and it will automatically calculate the Training Cost PEr Employee (TCPE) for you. What […]
- DA Or Dearness Allowance? - DA or dearness allowance is allowance paid to the employee against the price rise in the economy to reduce the impact of inflation. Dearness allowance in India is paid to government employees, public sector employees and pensioners as a cost of living adjustment allowance.
- EL/PL? - EL/PL stands for Earned Leave/Privilege Leave. Earned Leave is the leave that an employee gets annually for planned long leaves for the vacation, travel etc.
- Employee Deductions? - Employee Deductions are the amounts subtracted from an employee's gross pay to reach net pay.
- Employee Earnings or Employee Compensations? - Employee earnings are all the cash and non-cash remunerations given to an employee for services performed for the employer.
- Employee Productivity? Definitions & Formula - Employee Productivity – Definition Employee Productivity means the output received in terms of units against the input employed which includes raw material (capital), labor, equipment, etc. In simple terms, it the amount of production received during a specific period against the resources consumed in that specific period. Employee productivity is also known as workforce productivity. It is […]
- Employee Retention? Definition & Importance - Employee Retention is the ability of a company or organization to provide and maintain a working environment which supports encourages its existing staff to remain with the company or organization for longer periods. In simple terms, Employee retention means the ability of the company to hold its employees from leaving the organization.
- Full-Time Equivalent (FTE)? - FTE stands for the full-time equivalent. FTE is an HR Metric to measure the number of total full-time employees along with the number of part-time employees that can be converted into full-time terms.
- Gross Salary? - Gross Salary is the salary amount including all benefits and allowances before any kind of deductions. In simple terms, Gross Salary is the total of all the components of your monthly payout before any kind of tax deductions.
- HRA? - HRA Stands for House Rent Allowance. House Rent Allowance is an amount allocated by an employer to the employee as a portion of their salaries.
- Human Capital ROI? Definition, Formula and Purpose - Human Capital ROI or HCROI is an HR Metric that evaluates the financial value added by your the workforce against the money spent on them in terms of salaries and other benefits. In layman terms, it is the amount of profit obtained by any organization against every dollar invested in their human capital compensation. The HCROI shows the ratio of income derived against the total employment costs.
- Loss Of Employee Productivity? Definition & Formula - Loss Of Employee Productivity – Definition Loss of Employee Productivity in terms of HR is the loss of revenue to an organization due to absenteeism, medical treatment, training, etc of its employees. In simple terms, the loss of work/revenue/production caused due to unavailability of an employee for any reason is called the loss of employee productivity. Loss […]
- Medical Allowance? - Medical Allowance is a fixed allowance paid to the employees as a part of their salary to meet his/her regular medical needs.
- Net Pay? - The net pay or the take-home pay is the amount of salary/wages of an employee that remains after all deductions(taxes, health insurance, benefits, etc.) have been subtracted.
- Overtime Pay or OT? - Overtime means the amount compensated for hours or days worked in excess of the maximum limit mentioned in your contract or set by federal or provincial law.
- Payroll Expenses? - Payroll expenses are expenses paid to employees in form of salary/wage for their services/work and associated expenses such as employee benefits and state and federal payroll taxes.
- PF or Provident Fund? - PF stands for Provident Fund. Provident Fund is a government managed retirement benefits scheme available for all the salaries persons.
- Revenue Per Employee? - Revenue Per EmployeeRevenue per employee is an operating performance ratio that is used to measures the average revenue generated by each employee of an organization.
- Sick Leave? - Leave in case of illness of self or other family member is called Sick Leave. Leave for which an employee is paid when he/she is out of work due to illness.
- TA? - TA stands for Traveling Allowance. Traveling allowance is the amount paid or allotted to an employee by the employer for traveling to another place for business purpose.
- TDS or Tax Deducted at Source? - TDS stands for Tax Deducted at Source. Tax Deducted at Source is the income tax that an employer deducts from the salary of its employee under the provision of Indian Income Tax Act 1961.
- Time To Fill (TTF)? - TTF stands for Time To Fill. Time To Fill (TTF) is another HR metric similar to Time To Hire(TTH). The Time to Fill the difference between the date of the opening up of a job position and the date of an employee joining the company.
- Time To Hire (TTH)? - TTH sands for Time To Hire. Time To Hire is an important HR metric which helps you calculate the time to recruit an employee for an open position. It is the number of days to between a position opening up and recruiting the candidate by signing the job contract or accepting the offer.
- TTF Or Time To Fill? - TTF stands for Time to Fill. Time to fill is the time elapsed between engaging a candidate and his acceptance of your offer.
- Yield Rate (Selection Rate)? Definition, Uses And Formula - Yield Rate (Selection Rate) is an HR Metric that measures the efficiency of each stage during the staffing process from receiving applications to recruiting the candidate. In simple terms, the HR metric used to measure the percentage of candidates were hired out of the total applications received.
- 360 Degree Feedback? Definition, Pros & Cons - 360 Degree Feedback or multi-source feedback system practiced by Human Resource Department in which an employee receives feedback from all persons related to his job profile. These people include teammates, peers, subordinates, managers, suppliers of the organization and the customers of the organization.