Net pay is the amount of money an employee earns after taking out all deductions from their gross pay. … Also commonly known as “net income” or “take-home pay,” net pay is the amount of money taken home after all deductions. It’s the income an employee has to spend at their discretion. The fundamental difference between net and gross pay lies in the various withholdings and deductions (e.g., …
Type: Glossary
Employee benefits are non-wage forms of compensation offered to employees in addition to their standard wages or salaries. … These benefits are a vital part of an employee's total compensation package and are pivotal in attracting and retaining top talent . They can range from health insurance coverage and supplemental retirement contributions to paid time off and professional development …
Type: Glossary
DENVER October 30 2024 — the leading expert on global workforce management proudly announces its designation as a Leader in Everest Group’s 2024 PEAK Matrix® Assessment for Employer of Record EOR Solutions. This prestigious recognition marks the third consecutive year that Velocity Global has earned this accolade reaffirming its role as a trailblazer and trusted partner for businesses scaling …
Type: News
HR software is a digital solution that simplifies and automates various organizational human resources processes. … Software-based HR solutions are now integral platforms that shape today's HR technology landscape. These platforms help HR teams manage their workforce more efficiently by centralizing vast amounts of employee data and automating time-consuming administrative tasks. Some platforms …
Type: Glossary
A relocation package is a set of benefits and services employers offer to assist employees in moving to new locations for work purposes. … Relocation packages ease the financial and logistical burdens when repositioning a company’s workforce to a different location. These packages help ensure a smooth transition when relocating employees and their families. Relocation packages can vary widely in …
Type: Glossary
Labor law refers to legislation and regulations governing the relationship between employers, employees, and labor unions. … Labor laws protect workers' rights, ensure fair treatment, and balance the interests of employers and employees. These laws cover workplace issues, including working conditions, wages, hours, benefits, and safety standards. They also regulate collective bargaining, union …
Type: Glossary
Paternity leave is an essential benefit for modern workforces allowing fathers to bond with their newborns or adopted children while supporting their partners during the critical early days of parenthood.Across Europe paternity leave policies vary significantly reflecting the diversity of national legislation and cultural approaches to work-life balance. In some countries employers must offer …
Type: Resource (Article)
A temporary employee is an individual hired by a company for a predetermined period to fulfill specific short-term needs or projects. … Often referred to as temps, these employees are most commonly hired to cover staff absences, manage seasonal fluctuations in workload, or assist with special projects. Their employment duration can range from a few days to several months, depending on the …
Type: Glossary
Overtime is any work performed beyond an employee's standard working hours, typically resulting in additional compensation or time off. … The concept of overtime is fundamental in labor laws and employment practices worldwide, though its specifics can vary significantly between countries and even industries. In most jurisdictions, overtime begins after an employee has worked a set number of hours …
Type: Glossary
Some organizations operate efficiently with a domestic workforce while others thrive by expanding their talent base globally. Globally-inclined tech companies consulting firms and internationally recognized brands often benefit from tapping international talent pools and markets. These businesses leverage diverse skill sets access new consumer bases and encourage innovation on a wider scale. …
Type: Resource (Article)
