A global team is a group of employees who collaborate across different countries, cultures, and time zones to achieve shared business objectives while bringing diverse perspectives and expertise to drive organizational success. … Global teams form the backbone of modern multinational organizations, enabling companies to tap into worldwide talent pools and establish a presence in key markets. …
Type: Glossary
Human capital management (HCM) is a set of practices and tools used to recruit, develop, and manage employees as valuable assets while optimizing their contributions to organizational success. … HCM transcends traditional HR functions by taking a strategic approach to workforce management. It encompasses everything from talent acquisition and development to performance optimization and employee …
Type: Glossary
PLATFORM SOLUTIONS USE CASES RESOURCES WHY VELOCITY GLOBAL COMPANY …
Type: Component Page
An affiliate company is a business entity with a partial ownership or controlling interest held by another company, the parent company. … This relationship allows the parent company to influence the affiliate's operations and strategic decisions while maintaining a separate legal structure. Affiliate companies can help businesses expand into new markets, diversify business operations, or manage …
Type: Glossary
Legal entity rationalization (LER) is the strategic process of simplifying a company’s legal entity structure to minimize costs and increase tax savings, usually by reducing subsidiaries, branches, and affiliations across multiple jurisdictions. … Global expansion often requires companies to establish new legal entities or work with foreign subsidiaries in each country to ensure compliance. This …
Type: Glossary
An acquihire occurs when a company acquires another organization primarily to obtain its talented employees rather than for its products, services, or other business assets. … The term "acquihire" combines "acquisition" and "hire," reflecting a strategic approach to talent acquisition that has become increasingly common in competitive industries. This practice enables companies to rapidly scale …
Type: Glossary
Global workforce management is a strategic and coordinated approach that allows organizations to oversee and optimize their workforce globally. … Global workforce management includes a range of functions such as recruitment, onboarding, payroll, compliance, and performance management, all tailored to meet the diverse needs of a geographically dispersed workforce. As businesses expand …
Type: Glossary
A digital nomad visa is a temporary visa that allows employees to live and work in a foreign country. … It usually lasts 12 months—much longer than a traditional tourist visa. Employees can obtain digital nomad visas from either their employer or if they own a business that can be managed from anywhere in the world. Digital nomad visas have only grown in popularity since the COVID-19 pandemic as …
Type: Glossary
14th-month pay is an additional month's salary that employers provide beyond standard annual wages and 13th-month bonuses, typically distributed at year-end or during holidays. … 14th-month pay is a mandatory benefit in some countries and remains a customary practice in others, reflecting the diverse standards of global compensation. While nations like Portugal, Spain, and Greece mandate this …
Type: Glossary
A secondment is a temporary work arrangement where an employee is assigned to a different organization, department, or location while maintaining employment with their original employer. … An international secondment occurs when an organization assigns employees to work in a different country, typically to support global expansion initiatives or share expertise across international offices. This …
Type: Glossary
