What is on-demand pay? | HiBob

What is on-demand pay?

On-demand pay is a way for people to receive payment for their work as they earn it, rather than waiting for the end of the current payroll cycle.

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What is Continuous Feedback?

What is continuous feedback?

Continuous feedback is a process where you give feedback to employees (and receive it from them) on a regular basis—unlike a traditional performance review which is usually done once or twice a year.

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What is Internal Mobility?

What is internal mobility?

Internal mobility is the movement of employees within a company to new roles or positions. This can include promotions (vertical mobility), as well as transfers and role changes (lateral mobility).

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What is a Salary Freeze?

What is a salary freeze?

A salary freeze, also known as a pay freeze, is when a business makes the difficult decision to suspend salary increases or merit increases for a certain period of time.

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What is an HR Database?

What is an HR database?

An HR database is a system where you store and manage data on your company’s employees. HR databases can be used to track a variety of information, including HR metrics, which give the HR team insights for better decision-making.

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What is Ageism (Age Bias) in the Workplace?

What is ageism in the workplace?

Ageism in the workplace, also known as age bias, is when people discriminate against their colleagues and other professionals because of their age.

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What does Kudos Mean?

What does kudos mean?

When you give someone kudos, you’re recognizing what they’ve achieved and showing your appreciation. Giving kudos regularly, and making it a central part of your company’s work culture, can have a dramatic effect on various aspects of your business.

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What is an HRIS Director?

What is an HRIS director?

An HRIS director takes care of an organization's HRIS software, data, and processes. They work closely with the HR and IT departments to keep the technology behind HR processes running smoothly.

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What is Employee Loyalty?

What is employee loyalty?

Employee loyalty is when your people choose to continue working with you for a long time because they love doing so. If you improve employee loyalty, you won’t just boost your employee retention rates—you’ll notice a positive effect on your business as a whole.

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What is offboarding? - Offboarding-Glossary-banner-1.png

What is offboarding?

Offboarding is the process of disengaging an employee from their position within a company, a practice used both for employees who choose to leave and for those who are laid off.

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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 for reaching pre-established goals and benchmarks.

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compensation plan

What is a compensation plan?

A compensation plan is a payment package designed to attract and retain employees. A basic compensation package consists solely of a salary or wages. A more comprehensive compensation package could include additional benefits such as bonuses, perks, commission, health insurance, or retirement investments. Compensation plans involve offering fair and competitive payments that simultaneously align with the company budget and promote business success. https://www.youtube.com/watch?v=xdicz6u06ro&list=PLy3JTofSJZvst0HUOnqPHjl_88eIVlvaN&index=3 What are the different types of compensation?  It's critical to build your compensation plan according to your budget and resources. This is especially important when structuring a…

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Pay Transparency

What is pay transparency?

Pay transparency is the practice of openly disclosing compensation for both current and prospective employees in the pursuit of pay equity. Pay transparency is one strategy to improve communication, address pay inequality, and build trust in the workplace.

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HR strategy

What is an HR strategy?

An HR strategy is an organized set of HR methods designed to support high-performance work and promote the company’s vision, mission, values, and objectives.

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What is people operations? - Glossary-3_People-operations.png

What is people operations?

People operations is the management and development of an organization’s workforce. Departing from traditional human resources (HR), people operations employs a more holistic approach, humanizing impersonal systems and processes to increase productivity and employee engagement.

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