List of Terms – P

Pay stub

The pay stub is a report given by the employer to the employee together with payment, listing the payments, withholdings, contributions, working hours, vacation and sick leave balances, and more.

 

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Payroll

Payroll is the company’s list of payments it must make every week or every month to its employees.

 

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Payroll calculation

Calculation of the employee payroll, including withholdings and contributions. Data specifying the entitlement of the employee to payment is transferred from the Time and Attendance System to the Payroll System.

 

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Payroll software

The payroll system receives data from the Attendance System that specify the employee’s right to receive payment, and it calculates the payment due to the employee, the withholdings, and the contributions.

 

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Performance Appraisal

A performance appraisal / performance review / performance evaluation / employee appraisal is a method by which the job performance of an employee is evaluated. It is a systematic and periodic process that assesses an individual employee’s job performance and productivity in relation to certain pre-established criteria and organizational objectives. Other aspects of individual employees are considered as well, such as accomplishments, potential for future improvement, strengths and weaknesses, etc.

A performance appraisal is typically conducted annually as part of career development process.

Usually, the employee’s supervisor (and frequently, a more senior manager) is responsible for evaluating the employee, although some companies conduct a 360 degree feedback process. A private conference is often scheduled to discuss the evaluation.

A performance appraisal is often included in performance management systems. It helps the subordinate answer two key questions; first, “What are your expectations of me?” second, “How am I doing to meet your expectations?”

 
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Performance Management

Performance management is a process that manages and aligns the organization’s resources in order to achieve highest possible performance. As such it determines to a large extent the success or failure of the organization.

The main objective of the process is to improve performance, initially at the level of the individual employee, and ultimately at the level of the organization. It also serves as a basis for employment decisions such as promotions, terminations, transfers, personal development, succession planning and compensations and rewards.

 

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Phone-based attendance reporting

Phone-based attendance reporting allows reporting working time, attendance, and tasks performed by the field workers and employees in distributed sites, using a mobile or a landline phone.
This option enables employee identification, including voice recognition and employee’s location, without the need for any infrastructure or dedicated hardware.

 

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Position

A position is a framework defining the essence of the work – the total activity that a certain employee filling the position is required to perform, conditions, and wages.
The position is a derivative of a job and it is adapted to the context of the organizational unit with which it is associated. For example, the job of a secretary may have two positions: secretary of the CEO and secretary of the customer service department. These positions require different skills: the CEO’s secretary may be required to have command of additional languages at native speaker level.
The position is usually filled by a certain employee, although a position may be filled by two part-time employees who share the job.

 

 

Productivity

Productivity is a measure that describes improvement and increased efficiency within the organization.
This index reflects the ratio between the value of production (total output multiplied by sale price) and the cost of employee wages. Wage costs include the total cost of the various payments made by the organization to employees (workers’ wages, social benefits). Production value is calculated the same way as the productivity index, and the only input is the cost of the workers’ wages. Labor productivity expresses the monetary value obtained in terms of output for every $1 paid by the organization in wages. For example, the meaning of a labor productivity of 1.5 is that the value of output produced by workers is 50% higher than the cost of wages.

 

 

 

Promotion

A promotion is the advancement of an employee’s rank or position in an organizational hierarchy. Promotion may be an employee’s reward for high performance, i.e., positive appraisal.

Before a company promotes an employee to a particular position it ensures that the person is able to handle the added responsibilities and has the relevant skills and competencies. A promotion can involve advancement in terms of designation, salary and benefits.