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 job pricing? Job pricing refers to the process of determining the appropriate compensation level for a specific job within an organization. This involves assessing the job’s responsibilities, required skills, and its value to the organization, as well as comparing it against similar roles in the job market. The primary goal is to set…
What is a salary freeze? A salary freeze is a temporary halt or suspension in an organization’s increment of employees’ salaries. This measure is usually adopted as a financial strategy during economic uncertainties or to assess internal cost structures. During a freeze, no employee receives a raise, bonus, or other forms of increased compensation, regardless of performance…
What is semi monthly pay? Semi monthly pay is a payment schedule where employees receive their salary or wages twice a month, typically resulting in 24 pay periods per year. Under this system, payments are usually made on specific days of the month—typically either on the first and the 15th of the month or the…
What are statutory benefits? Statutory benefits refer to the mandatory benefits employers are required by law to provide to their employees. These benefits are governed by specific legislation and vary by country or region. They typically include contributions such as social security, unemployment insurance, workers’ compensation, and health insurance in some cases. The purpose of…
What are discretionary benefits? Discretionary benefits refer to the range of voluntary benefits that employers choose to offer their employees beyond what is legally required. These benefits encompass various programs and services designed to enhance the overall compensation package provided to employees, contributing to their financial security, health, and wellbeing. Unlike mandatory or statutory benefits,…
What is a retention bonus? A retention bonus is a financial incentive, usually paid out as a lump sum, offered by an employer to a valuable employee to encourage them to stay with the company for a specified period of time. This type of bonus is typically used when the continuity of the employee’s service is…
What is imputed income? Imputed income refers to the value of non-cash benefits or extra perks employees regularly receive that are not considered a part of their basic salaries. These benefits have a monetary value and, so, can be regarded as part of the individual’s income for tax purposes, even though the individual does not…
What are salary bands? Salary bands, also known as pay bands, are ranges of salaries established for specific job roles or levels within an organization. They provide a structured framework for compensating employees based on their position, skills, experience, and market value. Each band typically includes a minimum, midpoint, and maximum salary: Salary bands ensure internal…
Time off in lieu meaning Time off in lieu (TOIL), also known as time in lieu, is a practice in which employees can take paid time off in compensation for extra hours they have worked beyond their regular working hours instead of receiving overtime pay. The term “in lieu” is French for “instead of.” The…
What are statutory deductions? Statutory deductions are mandatory taxes that employers withhold from employees’ gross earnings. These statutory employee deductions are typically used to fund various government benefits such as social security, unemployment insurance, Medicare, and pension plans. The amount of statutory deductions will vary as they depend on an employee’s gross earnings. In a…
