AIHR Boot Camps are intensive HR training programs designed to rapidly upskill small cohorts, blending self-paced, specialized content with instructor-led, practical sessions, all guided by a program manager to ensure progress and impact.
Learn moreWhat is broadbanding? Broadbanding is a compensation approach that consolidates a range of similar job classifications into a single pay band. This encompasses a much broader range of compensation levels than traditional salary structures and results in reducing the number of pay grades. A traditional salary band usually has a range spread of 25% to…
What is a milestone award? A milestone award recognizes a significant achievement by an employee or a milestone in their development. The most common form of a milestone award is a celebration based on the employee’s years of service. It is a formal way to recognize employees for being with an employer for a certain…
What is a monthly pay period? A monthly pay period indicates that a company pays its employees every month, resulting in 12 paychecks a year. The majority of salaried employees in European countries are on a monthly pay period. Typically, a monthly pay period results in employees being paid on the last Friday of the…
What is a spot award? A spot award is a spur-of-the-moment employee recognition for employee performance and exemplary behavior as and when it happens. The prize can be both monetary and non-monetary. It is used as a retention tool to let employees know their efforts have been recognized and reinforce the organization’s values. The two…
What is differential pay? Differential pay is compensation paid to employees for working outside their normal hours or taking on additional work. This type of premium pay is a useful tool for employers to compensate employees in unusual circumstances or unfavorable working conditions. The term “differential” indicates a higher than normal pay rate. It can be…
What is variable pay? Variable pay is a compensation structure where a portion of an employee’s earnings is tied to performance, results, or achieving specific goals, rather than being guaranteed as part of a fixed salary or hourly wage. It is designed to motivate employees to meet or exceed set goals, and is often used…
What are intangible rewards in the workplace? Intangible rewards refer to non-material awards provided to an employee that do not have inherent financial value. They are used to recognize and show appreciation for an employee’s efforts and performance. Intangible rewards are usually given in response to a particular achievement by an employee. Examples of intangible…
What is a pay group? A pay group is a set of employees grouped according to shared characteristics and paid on the same schedule. Grouping employees in this manner ensures easier processing of the payroll. A pay group enables a company to sort employees based on pay frequency. An employee may only belong to one…
