Daily timesheet for employees

The Base Wage Rate refers to the minimum fixed compensation an employee receives for performing specific job responsibilities. It does not include bonuses, benefits, commissions or other forms of additional compensation. This rate is typically determined by the skills, experience and responsibilities required for the position.

A Blended Workforce is a modern employment approach that involves a combination of full-time staff, part-time employees, contract workers, freelancers, and remote workers. This allows companies to be more flexible and convenient in managing employment based on demand, skills, and budget constraints. It can also help organizations bring together diverse talent and experience for specific projects.

Bring Your Own Device (BYOD) is a business policy that allows employees to use their personal devices for work-related tasks. This includes laptops, smartphones, and tablets that are not directly owned by the company. The advantages of BYOD include increased employee satisfaction and potentially cost savings, but it also poses significant security and data privacy challenges.

Competency Based Pay is a compensation structure where employees are paid based on their skillsets, knowledge, and abilities, rather than their job title or seniority. This system rewards individuals who have a broad or deep skill set and it encourages continuous learning and self-development. It is typically used in industries where the work is largely skill or knowledge-based, such as technology or engineering.

Conditions of Employment refer to the terms and stipulations agreed upon by both employer and employee at the time of hiring. These typically include details about job responsibilities, remuneration, working hours, benefits, and policies for vacation, sickness, and termination. Both parties are obligated to abide by these agreed-upon conditions during the course of employment.

Contingency Recruiting is a recruiting method where the recruitment agency is paid only after successful placement of a candidate. It's especially beneficial for organizations as they are only required to pay if they find the right candidate. These agencies usually operate in a competitive framework where multiple agencies work to fill the same open positions.

A contingent worker is an individual who is not a full-time employee, but is hired on a temporary basis. This could include freelancers, independent contractors, consultants, or other outsourced and non-permanent workers who are hired on a per-project basis. These workers do not have the same legal protections as full-time employees, and their work contract is contingent on specific deliverables or a defined period.

A Direct Report refers to an employee who is directly supervised or managed by a particular supervisor or manager. The term corresponds to the relationship between the manager and the subordinate in a corporate structure. It emphasizes the straight-line of command and communication existing within organizational hierarchies.

Direct Reports refer to employees or subordinates who are directly supervised or managed by a particular boss or manager. They are the individuals that a manager is directly responsible for in terms of task allocation, performance appraisal and oversight. The term originates from the organizational structure of businesses, primarily focusing on hierarchical relations.

Employee Evaluation, also known as performance review or appraisal, is a method employed by companies to assess the work performance of their employees. It provides a platform for supervisors to give constructive feedback on employee performance, identify skill gaps, and define future goals. Essentially, it forms an integral part of talent management and development in organizations.

Employee Type refers to the classification of an employee based on their job roles, functionalities, and responsibilities within an organization. Common employee types include full-time, part-time, permanent, temporary, contract workers, and freelancers depending on the hours they work and the permanency of their role. These classifications can greatly affect their benefits, compensation, and legal rights.

An employment contract is a legally binding document that outlines the formal agreement between an employer and an employee. This agreement defines the terms and conditions related to the job, including job responsibilities, salary, benefits, working hours, and termination conditions. It provides protection for both parties involved and helps prevent potential disputes.

Employment status refers to the classification of an individual working for a company based on certain predefined parameters. It often categorizes workers into areas such as full-time, part-time, temporary, contract, or independent contractors. The status is significant as it dictates various rights, benefits, and legal protections for the worker.

Exempt employees are categories of employees who are exempt from certain labor laws, including specifically from overtime pay provisions. This includes typically high-level positions such as executives, professionals, and outside sales employees. Their salary isn't based on the number hours worked and they aren't eligible for overtime, regardless of the amount of hours they work per week.

Federal holidays are public holidays established by federal law in the United States. On these days, non-essential federal government offices are closed, and federal employees are paid to have the day off. Federal holidays may also impact services like mail delivery and certain banking operations.

A Flexible Spending Account (FSA) is a type of savings account that provides employees with specific tax advantages. The account allows employees to contribute a portion of their regular earnings to pay for qualified expenses, such as medical or dependent care costs. The funds in an FSA are contributed pre-tax, therefore reducing the amount of income tax you have to pay.

A Flexible Workplace, or Flexible Workspace, is a work environment where the organization operates with flexible working hours and workplaces. It adopts strategies such as telecommuting, flextime, job sharing, or compressed work weeks which enables employees to choose when and where they conduct their work. This approach enhances work-life balance, reduces commuting time, and allows the business to tap into a wider talent pool.

A Floating Holiday is a paid time off from work, granted by employers to employees at their discretion. Unlike standard public holidays, these days are generally determined by the employees themselves for personal use. The intent is to allow employees to celebrate holidays not recognized within the standard paid leave system.

Full-Time Equivalent (FTE) is a unit that indicates the workload of an employed person in a way that makes workloads or class loads comparable across various contexts. An FTE of 1.0 means that the person is equivalent to a full-time worker, while an FTE of 0.5 signals that the worker is only half-time. Essentially, it's a measurement that translates part-time work into full-time work terms.

Full-Time Hours refer to the conventionally accepted amount of hours an employee is expected to work in a week in a full-time job. Depending on the country and/or industry, this typically ranges between 35 to 40 hours per week. Full-time employment often comes with benefits like health insurance, paid vacation and sick days, which may not be available to part-time or contract workers.

Gross wages refer to the total income earned by an employee before deductions such as taxes, insurance, and benefits are subtracted. It is the total compensation provided for the services rendered by the employee, including regular pay, overtime, bonuses, and commissions. The deductions taken from this total amount give the net pay, which is the amount an employee actually takes home.

An hourly employee is a type of worker who is paid on an hourly basis, rather than receiving a fixed salary. The pay would depend on how many hours they work in a specific pay period and it usually includes payment for overtime hours as per federal or state laws.

Hours Worked refers to the amount of time an employee spends on job-related tasks in a specified period. It usually includes regular working hours, mandatory or voluntary overtime, and training hours. It's crucial for calculating compensation, benefits, and compliance with labor laws.

Indirect compensation refers to non-monetary benefits provided to employees, such as pension plans, healthcare, paid time off, or employee training and education. These benefits are a key component of an overall compensation package and can play a critical role in attracting and retaining employees.

The Labor Force refers to the total number of individuals available to supply the labor for the production of economic goods and services. It includes both the employed individuals and those seeking employment, typically of working age. A larger labor force is generally indicative of a stronger economy, and changes in its size can influence other economic indicators.

Medical Leave of Absence is a period of time in which an employee is allowed to be off work due to personal health issues or to care for ill family members. This often falls under laws such as the Family and Medical Leave Act (FMLA) in the United States, guaranteeing certain workers up to 12 weeks of job-protected unpaid leave. The employer is also required to maintain the employee's healthcare benefits during this period.

The Migrant and Seasonal Agricultural Worker Protection Act (MSPA) is a U.S federal law designed to protect migrant and seasonal agricultural workers. It establishes employment standards related to wages, housing, transportation, and disclosure. It also requires farm labor contractors to register with the U.S. Department of Labor.

New Hire Orientation refers to the process of introducing newly hired employees to the workplace, culture, people, responsibilities, and policies of the company. It is a crucial HR activity that helps new employees to understand the expectations and to adjust smoothly to the new environment. This process can range from a day-long overview to an in-depth, week-long experience depending on the company and role.

Occupational stress refers to the physical, mental, and emotional strain or tension caused by the demands and pressures linked to one's job. Factors leading to such stress can range from heavy workload, lack of career growth or job satisfaction, poor work organization, or a challenging office environment. This stress, if not managed efficiently, can result in severe health issues and decreased productivity.

The Operating Budget refers to a detailed projection of all estimated income and expenses that a business expects to incur over a certain period, typically quarterly or annually. It usually includes expenses for running daily operations and revenues from core business activities. This budget is an essential tool for planning and managing resources effectively and efficiently.

Paid holidays are days when employees are given time off from work but still receive their usual compensation. The specific holidays and the amount of paid time off allowed can vary by country, organization, and the employee's contract.

Paid Time Off (PTO) is a policy that allows employees to take time away from work and still receive their regular pay. It typically covers situations like vacation, personal time, or illness. This policy is more flexible than traditional separate systems of vacation days, sick days, and other time off because it pools all time off into one accessible bank for employees.

A Pay Group refers to a classification method used by businesses to group their employees based on certain common aspects, such as hourly wage rate, salary type, or payment frequency. It's a vital element in payroll and compensation management, assisting businesses in customizing payrolls, compensation rules, and benefits for different categories or classes of employees. The creation of pay groups simplifies the process of payroll administration and ensures conformity with legal regulations.

A Pay Period is a recurring length of time over which employee time is recorded and paid. Examples of pay periods are: weekly, bi-weekly, semi-monthly, and monthly. The choice of pay period depends on the company's payment policy and the employment agreement.

Payroll Deduction is a term that refers to any amount deducted from employee's earning by the employer. It can include taxes, insurance premiums, retirement contributions, and deductions for employee benefits. These deductions are typically managed in accordance with government regulations and employment contracts.

Performance Management is a continuous process of communication between a supervisor and an employee that occurs throughout the year, in support of accomplishing the strategic objectives of the organization. It involves activities such as setting clear goals, regular feedback, conducting regular appraisals, promoting employee skills development, and recognizing employees' achievements. The main goal is to improve employees' effectiveness and productivity to meet the company's overall mission and goals.

Real Time Processing refers to the instant processing of data and information immediately after it is entered into a system. Instead of storing the information for processing at a later time, the system handles it as soon as it is input, providing immediate output. It's a method commonly seen in high-speed transactions, process control, and system monitoring applications.

A salaried employee is a type of worker who is paid a fixed amount of money or compensation (salary) by an employer. Instead of being paid per hour, these employees receive their salary which is typically stated in annual terms. Benefits, expectations, and work hours may differ from hourly employees.

Salaried Non-Exempt is a category of employment where an employee is paid a fixed salary but is also eligible for overtime pay per the Fair Labor Standards Act (FLSA). This means that, unlike "exempt" employees who are not paid extra for more than 40 hours of work in a week, salaried non-exempt employees get overtime compensation. The non-exempt status is often due to the nature of the job duties or the level of decision-making power held by the employee.

Seasonal employment refers to a type of temporary employment where workers are hired for a specific season, usually due to increased workload at that particular time. The most common example of this is retail jobs during the holiday season. These jobs can vary in duration, with some lasting a few weeks to several months, but they are not intended as long-term employment.

The Social Security Administration (SSA) is a U.S. government agency that manages social insurance programs, including Social Security retirement, disability, and survivor benefits. It was established in 1935 as part of President Franklin Delano Roosevelt's New Deal initiative. The SSA is tasked with administering benefits to around 64 million Americans, making it one of the largest government agencies.

The Standard Deduction is a specific dollar amount that reduces the income you're taxed on. In the United States, it varies based on your filing status, age, whether you're blind, and if you can be claimed as a dependent by another taxpayer. It is taken as an alternative to itemizing deductions.

Standard Hours refer to the typical amount of time that an employee is expected to work in a regular workday or workweek. It is the benchmark used to calculate wages, discern overtime, and allocate resources. Often, in many jurisdictions, standard hours are dictated by labor laws to ensure a fair working environment.

Straight-Time Pay refers to the regular compensation that an employee receives for the standard number of hours they worked, excluding any overtime or bonuses. This rate is usually defined in the employment contract and varies depending on the individual's job profile and experience. It is often used as a basis for calculating overtime payment or bonuses.

Wage to salary refers to the conversion of an hourly wage into a yearly salary or vice versa. It is a common practice in HR calculations to provide comparative analysis between different pay structures. This concept is significant when determining an employee's annual compensation based on hourly wage or in converting a salary into hourly pay for part-time employees.

Work-Life Balance refers to the equilibrium between professional responsibilities and personal life activities or leisure time. It's about striking a balance between work demands, such as work schedules, workload, and pace, and personal life including leisure activities, family time, and personal interests. Maintaining a good work-life balance is critical to reduce stress, enhance job satisfaction, and improve overall wellbeing.

A worker refers to a person who is involved in some form of economic activity to earn a living. This includes individuals performing jobs in various sectors such as agriculture, industry, services, etc. Workers can be categorized into different types such as self-employed, employees, unpaid workers, etc.

Workers' Compensation is a type of insurance that provides wage replacement and medical benefits to employees injured in the course of employment. It is a mandatory type of insurance carried by many businesses and is considered a trade-off where employees receive guaranteed coverage without having to litigate their employer for compensation. This system allows for protection of both employers and employees in case of workplace accidents.

Workforce Analysis refers to the process of evaluating the current capacity of an organization in context to its labor force. It involves assessing the skills, capabilities, productivity, and other factors related to the employees within an organization. This analysis helps to identify any gaps between the employees’ existing skills, the organizational objectives and to plan for future workforce requirements.