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 a floating holiday? A floating holiday is a flexible paid leave option, allowing employees to choose a day off that aligns with their personal, cultural, or religious needs, independent of the standard holiday calendar. Employers usually offer one to two days of floating holidays per year. This adaptable time off is distinct from…
What is biweekly pay? Biweekly pay is a method of payment where an employee receives their wages every two weeks. Each pay period spans 14 days, consistently starting and ending on the same days of the week. This results in approximately 26 pay periods per year, with slight variations due to the calendar year not…
What Is Total Target Cash? Total Target Cash (TTC) is the total value of all cash compensation an employee receives if they achieve the expected results, which includes the annual base salary and target performance-based bonus. This type of pay mix is common in sales and executive compensation. Total Target Cash provides a clear picture…
What is job architecture? Job architecture is a framework that defines and organizes roles within a company, outlining job titles, responsibilities, and required skills. It ensures consistency in role evaluation and compensation, creating transparency and fairness across departments. It also maps out career paths, helping employees understand how they can progress within the organization. This…
What is incentive pay? Incentive pay is additional compensation awarded to employees for achieving measurable goals, specific targets, or critical organizational milestones. This pay can take different forms, such as cash bonuses, commissions, or profit sharing. However, it can also be non-monetary, such as employee recognition, professional development opportunities, or personalized experiences. When implemented effectively,…
Gross wages meaning Gross wages and salaries are the amounts earned by an employee before taxes and deductions are taken from the paycheck. In other words, this term refers to the taxable compensation an employee receives. What is included in gross wages? The salary or wage itself is not the only thing included in gross…
What is say on pay? Say on pay is a term referring to the law in which the shareholders of a company can vote on the compensation of executives and also on general compensation policies. Say on pay votes can be applied to: The Say on Pay role is supported by corporate law and is…
What is retro pay? Retro pay (short for ‘retroactive pay’) refers to compensation added to an employee’s salary to correct an error made in a previous compensation cycle. This situation often arises due to payroll errors, delayed implementation of pay raises, or overtime miscalculations. For instance, if an employee was supposed to receive a raise…
What is premium pay? Premium pay refers to increased compensation that may be provided to an employee for a variety of reasons: How do I calculate premium pay? Depending on the job and the type of hours worked, the rate of the premium has to be determined. Usually, the premium rate may not be less…
What is competitive pay? Competitive pay is the total compensation package awarded to an employee with a value equal to or greater than the market offering for a similar position in an industry and geographical area. “Competitive” indicates that employers are offering compensation better in relation to other companies to secure high-performing employees. This is…
