What are salary bands?
Salary bands, also known as pay ranges or pay scales, are ranges of salaries for specific job positions. Organizations use them as part of their compensation management strategy.
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What is job pricing?
Job pricing is how you establish the right compensation or salary for a specific job…
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What is on-demand pay?
On-demand pay is a way for people to receive payment for their work as they…
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What is a salary freeze?
A salary freeze, also known as a pay freeze, is when a business makes the…
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What is a performance-based bonus?
A performance-based bonus is an extra compensation granted to a team member as a reward…
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What is a compensation plan?
A compensation plan is a payment package designed to attract and retain employees. A basic…
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What are the objectives of compensation management?
The objectives of compensation management are to attract, engage, and retain employees through competitive compensation…
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What are supplemental wages?
Supplemental wages are a form of compensation employers offer in addition to base income. While…
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What is pay parity?
Pay parity is the practice of paying people equitably. This means that those in the…
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What are paid holidays?
Paid holidays are days of festivity or recreation when people can take a paid day…
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What is a merit increase?
A merit increase is a salary raise granted to an employee for outstanding work performance…
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What is compensation management?
Compensation management is the process of managing analyzing and determining the salary, incentives, and benefits…
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What are gross wages?
Gross wages refer to the amount of money earned before taxes are withheld from a…
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What is time in lieu?
Time in lieu, also referred to as time off in lieu or TOIL, is when…
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What is the gender pay gap?
A gender pay gap is a difference in pay between men's and women’s average salaries.
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What is a leave of absence?
A leave of absence (LOA) is time people can take off from work for extraordinary…
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