Merit Increase

A merit increase refers to a salary or wage increase awarded to an employee based on their individual performance, contributions, and achievements in the workplace. Unlike across-the-board or cost-of-living increases, which are applied uniformly to all employees, merit increases are granted selectively to recognize and reward exceptional performance, accomplishments, and value-added contributions to the organization. […]

Market Rate

Market rate refers to the prevailing or average salary range for a particular job or position within a specific geographic location, industry, or market segment. It represents the compensation level that is competitive and reflective of current labor market conditions, supply and demand dynamics, and industry benchmarks for similar roles and skill sets. Key factors […]

Long-Term Disability (LTD)

Long-Term Disability (LTD) insurance is a type of insurance coverage that provides income replacement benefits to employees who are unable to work due to a long-term illness, injury, or disability. LTD insurance offers financial protection and security to employees by replacing a portion of their lost income during periods of extended disability, typically after a […]

Learning Management System (LMS)

A Learning Management System (LMS) is a software platform designed to administer, deliver, track, and manage educational and training programs within an organization. LMS platforms provide a centralized hub for organizing, delivering, and tracking various types of learning content, including online courses, virtual classrooms, webinars, videos, documents, and assessments. Key features and functionalities of an […]

Leadership Pipeline

A leadership pipeline refers to the systematic process of identifying, developing, and nurturing potential leaders within an organization to fill key leadership positions in the future. The leadership pipeline serves as a talent development framework that cultivates leadership capabilities at all levels of the organization, from frontline supervisors to senior executives, ensuring a steady supply […]

Lateral Move

A lateral move refers to a job change within an organization that does not involve a promotion to a higher or lower rank. Instead, it entails transferring to a different role, department, or location at a similar level of responsibility, authority, and compensation. Lateral moves allow employees to explore new opportunities, expand their skills, and […]

Labor Union

A labor union is an organized association of workers formed to protect and promote their collective interests, rights, and welfare in the workplace. Labor unions negotiate with employers on behalf of their members to secure better wages, benefits, working conditions, and employment terms. They advocate for fair treatment, job security, and representation in matters affecting […]

Leadership Development

Leadership development refers to the process of identifying, nurturing, and developing individuals with the potential to assume leadership roles within an organization. Leadership development initiatives aim to cultivate the skills, competencies, and behaviors necessary for effective leadership, including strategic thinking, decision-making, communication, influence, and relationship-building. Leadership development programs may include a variety of activities and […]

Layoff

Layoff refers to the termination of employment for a group of employees by an organization due to reasons such as restructuring, downsizing, cost-cutting, or business closures. Layoffs are typically initiated in response to changing market conditions, economic downturns, technological changes, organizational restructuring, or financial challenges that necessitate a reduction in workforce size. Layoffs can have […]

Labor Market Analysis

Labor market analysis is the process of examining and evaluating the dynamics, trends, and conditions of the labor market to inform workforce planning, recruitment strategies, and human resource management decisions. This analysis involves collecting and analyzing data related to labor supply, demand, wages, employment trends, skill requirements, industry dynamics, and demographic factors affecting the labor […]