A probationary period occurs at the beginning of a new hire’s employment, during which the employer evaluates the individual’s performance and suitability for the position. … A probationary period allows the employer to trial new employees, monitor performance, and determine if they are a good fit for the company. It also allows the employee to assimilate into the business, work environment, and …
Type: Glossary
When you manage a distributed workforce it’s important to understand the healthcare coverage available in each country where you do business. Providing high-quality private healthcare is often a smart move for global employers because it helps attract candidates and sets businesses apart in a competitive hiring market. However the laws around healthcare vary around the world so it’s important to …
Type: Resource (Article)
A key challenge for global companies looking to source talent from India’s large highly skilled workforce is understanding the ins and outs of local payroll. Global companies that hire talent in India must familiarize themselves with federal and state payroll and tax regulations while ensuring their HR team administers timely and accurate payroll to their workforce across the country.While this …
Type: Resource (Article)
An employment agreement is a contract between an employer and an employee that defines the terms and conditions of employment. … An employment agreement, or workplace agreement, solidifies the working relationship between the employer and employee by outlining both parties’ rights, responsibilities, and expectations. … Main types of employment agreements … Employers may use several employment …
Type: Glossary
A floating holiday is paid leave employers provide their employees to use at any time during the year at their discretion. Employers typically offer floating holidays in addition to employees’ statutory and supplemental paid holidays. … Floating holidays are sometimes called optional holidays and are typically used for personal days, holidays, and cultural events not included on the company …
Type: Glossary
A compensation policy refers to a company’s practices for providing employees with pay, benefits, and other rewards. … A compensation policy outlines the specific details for determining employee compensation, such as base pay, statutory requirements, employee benefits, commissions, bonuses, overtime, severance, and equity-based rewards. The policy also typically describes the elements included …
Type: Glossary
Compliantly hire pay and manage your global dream team in over 185 countries with Velocity Global. Contact Us EMPLOYEE COST CALCULATOR Accurately budget payroll costs for your global team Get reliable insights into employee costs and country-specific contributions so you can expand your global workforce compliantly and with confidence. TRUSTED BY CUSTOMERS EVERYWHERE—TO GO ANYWHERE Compliance …
Type: Landing Page
opens doors to new markets talent and growth opportunities. However the onboarding process for international employees in multiple countries presents several challenges. Global employers must be knowledgeable about onboarding best practices that standardize hiring and onboarding across borders.Global employee onboarding best practices helps companies ensure a smooth transition for new remote team …
Type: Resource (Article)
With one of Europe’s main financial centers a competitive corporate tax rate and a diverse range of industries France is a highly attractive market for global companies.However one challenge businesses face when engaging talent in this country is navigating its local payroll and tax regulations. Just calculating tax liabilities for France’s complex Social Security scheme can be a major …
Type: Resource (Article)
A pay period is the timeframe during which employees work and earn wages. … A pay period is a regularly scheduled time when employees earn their wages via a paycheck. The pay period determines when a company issues employee payroll. … Pay period vs. payroll cycle … While a pay period is a specific period in which an employee receives pay, a payroll cycle refers to the frequency of the company’s …
Type: Glossary
