Workforce Glossary

Wage deduction authorization Wage deduction authorization is a written agreement or consent by an employee, allowing their employer to deduct certain amounts from their paycheck…

Workers’ Compensation Workers’ compensation is a type of insurance that provides financial and medical benefits to employees who are injured or become ill due to…

Workforce Management Workforce management refers to the strategies, processes, and tools that organizations use to optimize the productivity and effectiveness of their employees. It includes…

Year-End Tax Reporting Year-end tax reporting refers to the process of preparing and submitting various tax-related forms and documents at the end of a fiscal…

Tax Compliance Tax compliance refers to the adherence to tax laws and regulations set forth by governmental tax authorities, including the accurate and timely reporting…

Time and Attendance Time and attendance refers to the systems and processes used by employers to track and manage employee work hours, attendance, and time…

Time Clock A time clock is a mechanical or electronic device used by businesses to record the time employees begin and end their shifts, as…

Training and Development Training and development refers to the ongoing process of improving employees’ skills, knowledge, and abilities through various learning opportunities. Training typically focuses…

Turnover Rate Turnover rate, also known as employee attrition or staff turnover, is a metric used to measure the number of employees who leave an…

Unemployment Insurance Unemployment insurance (UI) is a government-provided financial benefit paid to eligible workers who have lost their job through no fault of their own,…