This is wage replacement coverage that provides financial benefits equating to a portion of an employee’s earnings due to long periods of illness, injury, or an accident. This is the U.S. government agency responsible for collecting taxes and enforcing tax laws. This is a suite of software applications that helps manage the human resource function and its various processes. This is an employer that agrees not to discriminate against their employees or applicants due to race, color, sex, religion, national origin, disability, age, or genetic information. This refers to the income generated when a user successfully completes an application process, typically in contexts like financial services, job platforms, or subscription-based services.
FMLA: Family and Medical Leave Act of 1993
This is a U.S. law requiring employers and employees to contribute to Social Security and Medicare through payroll taxes. Department of Labor that provides information and assistance on employer-sponsored health benefits and retirement benefit plans. The EEOC enforces federal laws that protect employees against discrimination and other laws.
Although usually offered by an employer, individuals can also purchase policies on their own. This is a tax-advantaged savings account designed to help individuals with high-deductible health plans save for medical expenses. This provides life insurance coverage to a group of people, typically employees, under a single policy. This is a tax-free account hosted by your employer to pay for out-of-pocket health care expenses. The individual decides how much they want to contribute, and the money is withdrawn from their paycheck before taxes.
Each state operates differently, but some states cover pregnant women. Here’s a list of today’s commonly used acronyms and initialisms in DEI and HR to help you decode your team members’ messages or company-wide presentations. Click on the category below to jump to the related collection of terms. In the world of Human Resources (HR), acronyms are as commonplace as employees at a coffee machine—necessary, ubiquitous, and sometimes a source of confusion. Dig into talent management trends, proven best practices, research, and more.
- The FTE count is calculated by adding up the hours worked by part-time employees during the month and dividing by 120.
- There are all kinds of employment education systems that you can try – each with their own acronyms.
- A full-time equivalent employee is a summation of part-time employees that are equal to one full-time employee.
- Nobody wants to get lost in a sea of acronyms, especially when it comes to managing employees and their well-being.
- Full-time employees are defined as working an average of 30 hours per week or 130 hours per calendar month.
TLM: Time and Labor Management
An HRIS is an intersection of human resources and information technology. An HRIS allows HR activities and processes, such as accounting, time and labor management, and payroll to occur electronically and helps a company plan and manage its HR costs more effectively. The Department of Labor administers federal labor laws to guarantee workers’ rights to fair, safe, and healthy working conditions. These laws include minimum wage and overtime pay, unemployment insurance, and protection against employment discrimination. ERISA is a federal law that sets standards for private-sector employee benefit plans, such as pensions and health insurance. It regulates plan administration and fiduciary responsibilities and provides certain rights and protections to plan participants.
OSHA (Occupational Safety and Health Administration)
Our sacred texts are governed by the laws of the mystical land of Israel. If you have any disputes, they’ll be settled in the courts of Tel Aviv-Jaffa. We’ve already covered the concept of the Turing test and its relevance to Human or Not in detail, so you might want to read it.
esop – employee stock ownership plan
EEOC is a federal agency responsible for enforcing federal laws against workplace discrimination based on race, color, religion, sex, national origin, age, disability, or genetic information. If an employee believes they were denied a promotion due to discrimination, they may file a complaint with the EEOC to seek resolution. In a PEO or co-employment agreement, the Professional Employer Organization becomes the co-employer of your company’s workforce. As the business owner, you still manage your employees day-to-day and maintain control of business operations.
For example, adjusting a workstation to accommodate a wheelchair user’s accessibility needs would be an example of a reasonable accommodation. In human resource management, there’s no shortage of acronyms, jargon, and other terminology. Maybe you’re a new HR practitioner, or you just need a quick refresh on what that one acronym means.
- It plays a critical role in company hiring by fostering a culture of continuous improvement and preparing employees to meet current and future business needs.
- Many employers prefer PTO as it simplifies scheduling and tracking by eliminating the need to categorize sick days and vacations separately.
- We are working hard to improve AI bot performance and keep the infrastructure stable, which is sometimes quite challenging.
- This is an HR professional who works closely with an organization’s leadership to align HR strategies with business goals, focusing on employee performance, development, and organizational success.
This is a refundable tax credit for low to moderate-income workers, designed to reduce the tax burden and encourage employment. This is the date of the accident when the injury became known, or the date when the employee sought medical attention for the injury. There are many instances when an employee may have been injured but didn’t seek care until it became an issue. This refers to an increase in income, typically wages or benefits, to offset inflation and maintain purchasing power. The Affordable Care Act is also known as Obamacare and is an insurance marketplace (Healthcare.gov) designed to offer affordable policies to the uninsured. It also prevents insurance companies from denying coverage due to pre-existing conditions.
This is a program that gives employees ownership interest in the company, typically through shares of stock. 401(k) investment allows employees to save and invest for retirement, often with employer contributions. Nobody wants to get lost in a sea of acronyms, especially when it comes to managing employees and their well-being. A TIN is an identification number used by the Internal Revenue Service in the administration of tax laws. In today’s competitive business world, having a robust workforce strategy is key for maintaining a…
HRM: Human Resource Management
For employers and employees, there are myriad HR terms to know and understand. For business owners navigating the HR landscape, the key is to stay informed and seek guidance when necessary. Partnering with an HR solution like The Payroll Company (TPC) can alleviate the burden of decoding these acronyms and managing HR functions. TPC integrates services from recruitment to retirement, ensuring compliance, efficiency, and a focus on strategic growth. Strategic HRM is the practice of identifying a company’s current and future HR needs and then attracting, developing, rewarding, and retaining employees for the benefit of both the employees and the business.
The Family and human resources acronyms Medical Leave Act of 1993 (FMLA) is a United States federal law requiring covered employers to provide employees job-protected and unpaid leave for qualified medical and family reasons. President Bill Clinton signed the FMLA into law on February 5, 1993. If you want to be hired, take time off, or be compensated for a workplace injury, you’ll need to know how to use HR acronyms.
This is the strategic process of attracting, developing, and retaining skilled employees to meet an organization’s goals. It focuses on maximizing employee potential and aligning their growth with business objectives. This is a flexible spending account that pays for eligible medical, dental, and vision care expenses not covered by an insurance plan. This is an HR professional who works closely with an organization’s leadership to align HR strategies with business goals, focusing on employee performance, development, and organizational success. This refers to the management of relationships between employers and employees, focusing on fostering a positive, productive workplace through communication, conflict resolution, and engagement initiatives. There are all kinds of employment education systems that you can try – each with their own acronyms.
Sometimes you might even catch someone using a word they don’t really know – and no one needs to use jargon just to sound fancy. When in doubt, simplify what you’re talking about so it’s clear for everyone to understand. In the meantime, check the glossary for common and not-so-common HR and business terms. Oh, and by the way, if you’re trying to negotiate a whole bunch of legal jargon in a contract or similar, there are AI tools that can help with that. Your quest is under the watchful eyes of our Privacy Policy, so make sure you’re cool with how we handle your personal data. Since we are simply in love with our project, we are planning to develop “Human or Not” as a full-time project.
The PEO provides human resource services and assumes partial liability for the employees. The PEO arrangement is a comprehensive HR and payroll solution that offers additional protection for your company. The FLSA establishes overtime pay, minimum wages, recordkeeping, and youth development standards for employees in the private sector, and federal, state, and local governments. This is a federal law that governs how employers give benefit plans to their employees and protect their retirement savings.
