The glossary provides readers explanations of various terminologies used by Human Resource professionals with definitions for those terms. These are not legal definitions. This glossary is subject for review and will be updated on a regular basis.
HRM acronym for Human Resources Management
HRIS acronym for Human Resources Information System
ERP acronym for Electronic Reporting Process
Employees are defined as Permanent, Term, Temporary, or Casual who were hired by a company to do a specific job and are covered under the company’s insurance policies.
Hourly/Salary Pay is the agreed upon pay type in which an employee is paid by its employer.
Hourly Pay Employees are paid based on an hourly wage rate. Generally hourly paid employees are overtime non-exempt, unless they fall under the professionals who are exempt from overtime category.
Salary Pay Employees are paid based on a set annual amount, which is divided and paid out according to the company’s pay period schedule. Salary paid employees are exempt from overtime.
Statutory Holiday Pay in lieu of employees working statutory holidays, employees receive a paid day off. Employees may be required to work statutory holidays due to business needs, however, they will be compensated either by receiving a paid day off in lieu, paid 1.5x their base hourly wage rate, or other forms of monetary exchange.
Vacation Pay are paid out to employees who are not eligible to paid time off (vacation days). The % rate of which is paid is determined by the Provincial Governing Bodies that the employee works.
Overtime Pay are paid to non-exempt hourly paid employees for working over 40 hours per week or their scheduled daily hours of work. Overtime hours is determined by the Provincial Governing Bodies that the employee works.
Banked Days eligible for the hourly employees (overtime non-exempt) to use. Instead of receiving overtime payments, these employees can choose to have the hours held (banked) to be taken as leave, at a time in the future that is agreed upon. Banked days must be used in the calendar year they are accrued, or they are paid at 1.5x by the last pay period for the year.
Lieu Days eligible for the salaried employees (overtime exempt) to use. The hours are held (banked) to be taken as leave, at a time in the future that is agreed upon. These hours can be used in the calendar year they are accrued or can be carried forward into the following year.
Premiums are monetary means of compensating an individual for working irregular hours such as night shifts or industry job based such as power engineering class tickets.
Benefit Uplift are paid to those not eligible to receive company benefits due to their employee classification and based on a % calculated on the individuals annualized base salary and how much each benefit would have cost the company. Benefits that generally fall under this uplift would be group benefits, paid sick days, group retiring savings plans. Employers have the option to add annual bonus plans or long-term bonus plans into the calculation.
Allowances are living, travel, or accommodation allowances that are paid to employees for working away from their primary residence or in a remote area.
Work Schedule Uplift are paid to employees working a rotation schedule averaging over 80 hours each pay period or required to work statutory holidays if they are overtime exempt.
Compensation Incentive Programs are additional compensation incentives provided to employees such as bonus
Annual Bonus Plan (ABP) is paid to permanent and term employees for their continuous employment contribution to the company. Temporary or Casual employees are not eligible to receive this as they are employed for less than 12 months or work on an as needed basis.
Long Term Incentive Plan (LTIP) is paid to permanent employees as an incentive bonus to retain them for the long term. Depending on the company, term employees may be eligible to participate in this program.
Work Schedule are the regular standard hours and days an employee is required to work.
Paid Vacation are accrued paid time off which permanent and term employees receive annually, as a retention incentive and to promote work-life balance.
Group Benefits are eligible for permanent and term employees who work full-time. Since Temporary or Casual employees work less than 30 hours per week, they are generally not eligible. Speak with your benefit provider for further details outlining their policy.
Retirement Savings are eligible for permanent and term employees who work full-time. Since Temporary or Casual employees are not employed for the long-term, they are not eligible. Speak with your benefit provider for further details outlining their policy.
Paid Sick Days are accrued paid time off which permanent and term employees receive to use for health-related matters.
The individual who applied for a vacant position.
The individual who applied for a vacant position who is invited to participate in the recruitment process.
The individual who accepted the company’s offer of employment and is new to the workforce.