Workforce & Finance Glossary for Employers
It's easy to get lost in the business lingo of HR, payroll, finance, and IT. Let our Workforce & Finance Glossary light the way! Browse by category, alphabetically, or use the search bar.
We regularly update our glossary to keep up with the fast-changing world of work. Bookmark it for quick reference — whether you’re a workforce specialist or building your own business.
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a
Affinity bias
An unconscious preference for those with similar backgrounds, interests, or characteristics.
Applicant tracking system (ATS)
Software that streamlines how organizations track candidates through the hiring process.
At-will employment
A work agreement that allows employers and employees to end the employment contract at any time.
b
c
Career Path Ratio
An HR metric used to assess employee growth and movement within an organization.
Career lattice
An agile career development path allowing vertical, horizontal, and diagonal movement.
Co-Employment
A contractual agreement between two employers to share responsibilities for an employee.
Compa-ratio
A metric comparing an employee’s pay to the midpoint of their role’s salary range.
Contingent worker
A temporary employee hired for short-term, project-based, or demand-related work.
Cost Per Hire
The average amount a company spends to attract and hire a new employee.
d
e
Employee Net Promoter Score (eNPS)
A measurement of employee satisfaction based on their likelihood to recommend their employer.
Employer of Record (EOR)
A third party that takes legal responsibility for a company’s employment tasks.
Exempt Employee
A worker not entitled to overtime and minimum wage protections under the Fair Labor Standards Act.
Exit Interview
Structured conversation with departing employees to gain feedback on their experience.
g
Garden leave
A paid offboarding period that restricts departing employees from active duties or their workspace.
Gig Economy
An economic model where consumers hire contractors or freelancers for short-term projects.
Global Employment Organization (GEO)
A service provider that hires and manages international workers on behalf of a client.
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p
Preboarding
A process for preparing and engaging with new hires between job offer acceptance and day one.
Professional employer organization (PEO)
A third-party organization that partners with businesses to streamline HR and payroll tasks.
Proximity Bias
When managers prioritize employees who work physically near them versus hybrid or remote workers.
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s
SMART Goals
A framework for setting precise, actionable objectives to drive tangible results.
STAR Method
A structured method of answering interview questions about a candidate’s probable behavior.
Salary Band
A framework establishing the maximum and minimum pay a group of similar roles can earn.
Stay Interview
A conversation exploring why an employee stayed with an employer instead of looking for a new job.
t
Talent Philosophy
A set of principles an organization adopts to guide its approach to talent management and recruiting.
Time to Fill
The average time it takes to fill an open position from the date it was posted.
Time to Hire
The period between a candidate applying for a job and their accepting the job offer.