BAGALUR CALL GIRL IN 98274*61493 ❤CALL GIRLS IN ESCORT SERVICE❤CALL GIRL
Encyclopedia human resource, business terms
1. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Management
A to Z Keyword Definition
Topic
Human
A Resource Ability to Pay This term is found in labor negotiations and refers to the ability of an organization to afford a wage or benefit cost increase.
Management
Human
This is when a right to a benefit is transferred from one person to another. (An example is the ownership of a life insurance
A Resource Absolute Assignment
policy or the right to retirement benefits).
Management
Human
A rating method where the rater assigns a specific value on a fixed scale to the behavior or performance of an individual
A Resource Absolute ratings
instead of assigning ratings based on comparisons between other individuals.
Management
Human
Accelerated Life This is when benefit payments from life insurance or long-term benefit plans are increased to cover expenses for a chronically
A Resource
Insurance Benefits ill individual.
Management
Human
Accidental Death and This describes common group benefit plan coverage where insurance pays for a covered individual's permanent
A Resource
Dismemberment disfigurement, loss of a body part, or permanent loss of use of a body part or function of the body, or death.
Management
Human Accidental Death and An addition to a Life Insurance Policy, it provides these benefits as a supplement to basic death insurance coverage. Typically,
A Resource Dismemberment this additional amount is payable only if the insured dies in an accident or loses any two limbs or his/her eyesight in an
Management (AD&D) Rider accident. (Some riders are third party administered).
Page 1 of 333
2. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human Accidental Death and
An insurance plan that provides benefits in the event of loss of life, limbs, or eyesight as the result of an accident. As costed in
A Resource Dismemberment
ERI's Benefit Assessor software (and as sold), it is priced as U.S. cents ($.01) per $1,000 of coverage on a monthly basis.
Management Insurance (AD&D)
Human
Accounting Principles This Board published rules by which United States CPAs conducted their accounting. The Financial Accounting Standards
A Resource
Board (APB) Board (FASB) replaced it in 1974.
Management
Human
Accounting Research
A Resource
Bulletin (ARB)
These were the bulletins published in the U.S. before 1960, which stated the generally accepted accounting principles.
Management
Human
In accounting, this is the method where expense items and income are recognized as incurred or earned, even if they have not
A Resource Accrual Basis
yet been received or paid. This is also called ACCRUAL METHOD. It is the opposite of CASH BASIS.
Management
Human
In pension (defined benefit) plans, it is the accumulation and counting of pension credits for years of experience, age, and
A Resource Accrual of Benefits
earnings. In profit sharing plans (defined contribution), it is the vesting of funds accumulated in personal accounts.
Management
Human
Accrual of Vacation This is the counting of vacation time due. Usually accumulation is by the number of hours or days worked. For example, after
A Resource
Pay two years of service, an employee would have the right to two weeks of paid vacation.
Management
Human
The value of a pension plan's promised benefits calculated by an actuary (actuarial valuation), taking into account a set of
A Resource Accrued Liability
investment and benefit assumptions to a certain date.
Management
Page 2 of 333
3. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
Accumulated Benefit The value of a Pension Plan's vested and non-vested promised benefits using a formula (or formulae) typically based upon
A Resource
Obligation (ABO) employees' years of service.
Management
Human
Accumulated Cost of This basic value reflects the cost of a single payment (premium) at the end of a term necessary to provide benefits to the
A Resource
Insurance insured that would have collected during that term.
Management
Human
Accumulated Funding In the United States, this is the amount by which the accumulated promises of a Pension Plan, as compared to the funds
A Resource
Deficiency available, do not meet certain minimum funding standards.
Management
Human
A Resource Accumulated Value In profit sharing plans, this is the amount of money available in an individual account, including earnings.
Management
Human
A life insurance term where dividends are left in a policy so that they can earn tax-free interest. Sometimes called Accumulated
A Resource Accumulation Option
Interest Option.
Management
Human
A Resource Accumulation Period A Deferred Annuity period in which premiums are payable.
Management
Human
A ratio used by financial analysts where the available assets (cash, marketable securities, and account receivables) are divided
A Resource Acid Test
by the current liabilities (Current Assets/Current Liabilities). Also called the Quick Ratio.
Management
Page 3 of 333
4. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
When one organization purchases another, with the surviving organization being the purchaser. (As opposed to a Merger,
Human
where both organizations might change forms.) Acquisitions may be of two types - purchase of assets or purchase of stock.
A Resource Acquisition
The latter includes purchase of all liabilities, including retirement and welfare plans. The former often does not include these
Management liabilities (although union fund retirement plan obligations are not escaped with an asset only purchase).
Human
A Resource Acquisition Expenses These are costs associated with and caused by one organization purchasing another. Also called Acquisition Costs.
Management
Human
Across-the-board General increase amount given to all eligible employees; may be either a flat amount or a percentage of base rate, sometimes
A Resource
Increase referred to as general increase.
Management
Human
The employment of a nonconstraint resource for the sake of keeping busy unrelated to whether it is useful in supporting
A Resource activation
system throughput.
Management
Human
Actively at Work Should an employee's health insurance coverage be scheduled to commence and that employee is absent from work for
A Resource
Provision certain specified reasons, the coverage will not commence until the employee returns to work.
Management
Human
Activities of Daily Activities of daily living include getting in and out of bed, dressing, bathing, eating, and generally getting around inside the
A Resource
Living (ADL) home.
Management
Human
A Resource Actual Hours The number of hours worked during a pay period, as compared to the scheduled hours.
Management
Page 4 of 333
5. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human These are assumptions made by actuaries regarding mortality, morbidity, interest, expense and other forecasts. In insurance,
Actuarial
A Resource
Assumptions
they are used to set insurance reserves. In retirement plans, they are used (along with salary levels and turnover) to determine
Management the annual contribution deemed necessary to a pension plan.
Human
Actuarial Cost One of many mathematical approaches by which an actuary determines the annual amount a Pension or Benefit Plan Sponsor
A Resource
Method should contribute.
Management
Human
A Resource Actuarial Department The department, within an insurance company, that determines the reserves needed for liabilities.
Management
Human
An alternative form of a benefit equal in value. For example, a Lump Sum payout of a benefit rather than smaller monthly
A Resource Actuarial Equivalent
payments.
Management
Human In a pension or a benefit plan trust, this is the total amount needed to meet promised benefits. This set of mathematical
A Resource Actuarial Valuation procedures typically calculates the value of benefits to be paid, the funds available, the annual contribution required, and the
Management amount of expense that an organization can take on for accounting and tax purposes.
Human
This is a description of when a Voluntary Employee Beneficiary Association Plan (VEBA) or pension plan has the amounts of
A Resource Actuarially Sound
funds necessary to meet liabilities.
Management
Human In life insurance, this is a professional who calculates mortality rates, morbidity rates, lapse rates, premium rates, policy
A Resource Actuary reserves and other values. In pension work, a professional who applies these and other principles to calculate retirement plan
Management obligations.
Page 5 of 333
6. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human ADEA (Age
In the United States, the Age Discrimination in Employment Act of 1967 protects employment rights of individuals age 40 and
A Resource Discrimination in
over. 1978 amendments raised the minimum mandatory retirement age to 70 years of age for most employees.
Management Employment Act)
Human
Adjustable Life A variable life insurance contract where a person can change his or her annual premiums and the amount of coverage
A Resource
Insurance Policy provided.
Management
Human Common to health welfare plans, where an organization employs an outside organization to provide administrative services for
Administrative
A Resource self-funded plans. The ASO Contract or provider provides claim and policy administration, but the purchasing organization
Services Only (ASO) retains financial responsibility. ASO providers are also called THIRD-PARTY ADMINISTRATORS.
Management
Human
An organization designated under the legal terms of the contract, plan, or trust to operate and direct a Benefit Plan. This is
A Resource Administrator
almost always a corporation, rather than an individual or the Plan Sponsor.
Management
Human
In the United States, this is a corporation that is licensed to accept reinsurance in a state or territory. Also called an
A Resource Admitted Reinsurer
AUTHORIZED REINSURER.
Management
Human
A Resource Advance Funding An organization deposits funds in a plan in advance of the time when funds will be distributed.
Management
Human Advanced
This is the insurance industry's misnomer for the main company's home office department that provides technical and
A Resource Underwriting
marketing assistance to agents in the field.
Management Department
Page 6 of 333
7. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
This is where a not obviously discriminatory practice affects a protected group of employees. This term is used in salary
A Resource Adverse Impact
administration, retirement, and benefit discrimination tests, as well as in general human resource practices.
Management
Human
Occurs when an employee or group of employees purchase or select coverage with a greater than likely loss at the expense of
A Resource Adverse Selection
an insurance company (or the organization if it is self-insured). This is also called ANTI-SELECTION.
Management
Human
A Board of Directors member who is not a current employee, but who may be either a retired employee or one who does
A Resource Affiliated Director
business with the organization on which he/she serves as a member.
Management
Human
An Internet term related to the sharing of links. In some cases, two sites link to each other on a reciprocal basis. The term
A Resource Affinity Provider
partner is not used.
Management
Human
A Resource Affirmative action Carried out on behalf of women and disadvantaged groups and members of such groups are placed in dominant positions.
Management
Human
A Resource Age Discrimination In the United States, an employer is prohibited from treating individuals over age 40 differently because of their age.
Management
Human
A Resource Age of Majority The legal term used for when an individual can enter into and be bound by a legal contract.
Management
Page 7 of 333
8. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Several definitions: 1) A service or business authorized to act on the behalf of others. (For example, an employment agency
Human
that refers employees to organizations for a fee.)(2) A government's administrative section. (3) A legal term describing the
A Resource Agency
relationship between two parties -- a principal and his or her agent, representing the principal in business transactions with a
Management third party.
Human
A Resource Agency Agreement A contract that describes an agent's authority.
Management
A distribution system whereby insurance companies use their own commissioned agents to sell and deliver insurance policies.
Human
The agency system is the most common system for distributing individual life insurance products and includes the branch
A Resource Agency System
office distribution system and the general agency distribution system. Also called the ordinary agency system. See also branch
Management office distribution system, brokerage distribution system, and general agency distribution system.
Human
An individual who sells insurance policies as either a Direct Writer or Independent Agent. Also services insurance policies for
A Resource Agent
clients.
Management
Human
A Resource Agent of Record The agent or broker who is recognized by the insurer as the person to whom commission is to be paid.
Management
Human
The portion of the insurance application in which the agent reports anything he or she knows or suspects about the proposed
A Resource Agent's Statement
insured that is not reported by the applicant or proposed insured.
Management
Human A method of accumulation of money for a pension plan, where an actuary determines the present value of all future payments
Aggregate Funding
A Resource
Method(s)
of benefits and deducts from this value any funds that may be on hand with trustee or with the insurance company and
Management distributing the balance as a cost over the future.
Page 8 of 333
9. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
Aggregate Mortality A type of mortality table that shows total statistics for the probability of living and dying throughout a person's entire life cycle. It
A Resource
Table is based on the combined statistics of both the Ultimate Mortality Table and the Select Mortality Table.
Management
Human
The practice of increasing market survey data by an assumed percentage, which is representative of wage movement, to bring
A Resource Aging Survey Data
the data to a consistent point in time. Also known as 'advancing' or 'trending' the data.
Management
A contract under which one party provides something of value to another party in exchange for a conditional promise. This
Human
promise is that the other party will perform a stated act if a specified, uncertain event occurs. Insurance contracts are aleatory
A Resource Aleatory Contract
(dependent on chance) because the policy owner pays premiums to the insurer, and in return the insurer promises to pay
Management benefits if the event insured against occurs.
Human
A company that is incorporated under the laws of another country. Compare to DOMESTIC CORPORATION and FOREIGN
A Resource Alien Corporation
CORPORATION.
Management
The assignment of a plan participant's benefits to an individual other than the participant. In the United States, ERISA generally
Human
prohibits such alienation of benefits, although exceptions to this rule exist and include the use of a participant's vested benefit
A Resource Alienation of Benefits
as collateral for a loan. The ERISA prohibition on alienation of benefits prevents creditors from attaching an individual's
Management pension benefits.
Human In the context of health insurance, this is a deductible that must only be satisfied once during a given period of time. If the
All-Causes
A Resource
Deductible
period of time is a calendar year, as it usually is, then this type of deductible is known as a calendar year deductible. Contrast
Management with a PER CAUSE DEDUCTIBLE.
Human A method of funding a pension plan whereby a portion of the total plan funds is allocated to each participant. This type of
A Resource Allocated Funding funding is often achieved through the purchase of annuities or insurance contracts for each participant. Contrast with
Management unallocated funding.
Page 9 of 333
10. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
Allowance Payments such as those for hardship, relocation, or the education of dependent children. It is distinguished from differential,
A Resource
Supplemental which is a payment to offset differences in costs between the home and assignment locations.
Management
Human
All-Salaried Work A pay policy that makes exempt/nonexempt status 'invisible' to workers. Under this policy, all employees are paid on a salaried
A Resource
Force basis and all pay is defined in the same terms, such as a monthly or annual salary.
Management
This is an IRS mechanism created to ensure that corporations, trusts, high-income individuals, and estates all pay at least
Human
Alternative Minimum some minimum amount of tax, regardless of deductions, exemptions or credits. The AMT is triggered when there are large
A Resource
Tax (AMT) numbers of personal exemptions on state and local taxes paid, by Incentive Stock Option (ISO) plans, or large numbers of
Management miscellaneous itemized deductions or medical expenses.
Human
American Council of
A Resource
Life Insurance (ACLI)
An organization that collects and disseminates data on life insurance markets in the United States.
Management
Human
American Stock
A Resource
Exchange (AMEX)
An organization overseeing the buying and selling of publicly owned shares of stock listed on the exchange.
Management
Human Americans With
This law creates non-discrimination protection for people with disabilities, similar to the Title VII of the Civil Rights Act of 1964
A Resource Disabilities Act of
extended to other minorities. Under the law, employers may not refuse to hire a person due to his or her disability.
Management 1990 (ADA)
Human A stock option contract that can be exercised at any time between the date of purchase and the expiration date. Most
American-Style
A Resource
Option
exchange-traded options are American-Style options vs. European-style options, which may only be exercised during a
Management specified period of time just prior to expiration.
Page 10 of 333
11. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human 1) The gradual elimination of a liability, such as a mortgage, in regular payments over a specified period of time. Such
A Resource Amortization payments must be sufficient to cover both principal and interest. 2) Writing off an intangible asset investment over the
Management projected life of the assets.
Human
A Resource Amortization Basis The process of paying off an interest-bearing liability through a series of installment payments.
Management
Human
analytic workplace Design based on established physical and behavioral concepts, including the known working habits of people. Produces a
A Resource
design workplace environment well within the range of human capacity and does not generally require modification or improvement.
Management
Human
The date used in some merit-pay systems at which a review of the employee's salary occurs. It may be the anniversary of
A Resource Anniversary Date
hiring, last pay increase, promotion or some other reference point.
Management
Human
The 12-month period following an employee's date of hire or date of re-employment (after a one-year break in service), and
A Resource Anniversary Year
each succeeding 12-month period.
Management
Annual Benefits
Statements Under
Human
The Employee Employers are required to provide participants in qualified plans specific information about the status of their projected pension
A Resource
Retirement Income income or account balances.
Management
Security Act of 1974
(ERISA)
Human
Usually a lump-sum payment (cash, shares, etc.) made once a year in addition to an employee's normal salary or wage for a
A Resource Annual Bonus
fiscal or calendar year. Generally nondiscretionary and not based on predetermined performance criteria or standards.
Management
Page 11 of 333
12. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
A plan in which each year, usually at the end of the year, employees become eligible for an additional amount of money or
A Resource Annual Bonus Plans
other reward.
Management
Human
A Resource Annual Budget A 12-month operating budget ending on the last day of the calendar year (i.e. December 31 of that year).
Management
Human
Usually a lump-sum payment (cash or stock) made in addition to an employee's normal pay for a fiscal or calendar year, based
A Resource Annual Incentive
on performance (individual, business unit and/or company). May also be called an annual bonus.
Management
Human
Annual Information In Canada, a report containing financial and other information that pension plans must file annually with the appropriate
A Resource
Return provincial or federal government.
Management
Human Annual Lease
A Resource Valuation Enables Employers, in a number of ways, to determine the value of a worker's personal use of a company car.
Management Automobiles
Human Annual Renewable
Life insurance that allows an individual to continue the coverage at the end of the year for a specified number of years. This
A Resource Term Life Insurance
coverage is also called YEARLY RENEWABLE TERM INSURANCE (YRT).
Management (ARTLI)
Human
Annual Report Form In the United States, a detailed report of membership and financial information pertaining to the operation of a pension plan.
A Resource
5500 This report must be filed annually with the Internal Revenue Service.
Management
Page 12 of 333
13. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human An accounting report that insurers must file each year with the appropriate regulatory agency. This report contains detailed
A Resource Annual Statement accounting and statistical data that regulators use to evaluate a life and health insurance company's solvency and its
Management compliance with insurance laws.
Annualized Increase
Human
Percent (also, Salary increase that is expressed as an annual rate of increase, calculated by dividing the number of months since the last
A Resource
Equivalent Annual increase (the dominator) into 12 (the numerator) and multiplying the result by the increase percent.
Management
Percent Increase)
Human Annually Renewable
A Resource Term (ART) See yearly renewable term (YRT) insurance.
Management Insurance
Human
Annuities and Annuity An annuity is a contract for the payment of specified or objectively determinable periodic payments over a specified period of
A Resource
Contracts time or over the lifetime of the recipient.
Management
Human A calculation of probability of dying at each age. Used by actuaries to calculate premiums and reserves for annuities in which
Annuity Mortality
A Resource
Table
benefits are paid only if a designated person is alive. Annuity mortality tables usually project lower rates of mortality than do
Management mortality tables that are used for life insurance. See also MORTALITY TABLES.
Human
Occurs when an employee or group of employees purchase or select coverages with a greater than likely loss at the expense
A Resource Anti-Selection
of an insurance company (or the organization if it is self-insured). This is also called Adverse Selection.
Management
Human
When a principal (client who hires an agent) suggests to a third party that the agent may act on the principal's behalf. The third
A Resource Apparent Authority
party believes in the authority of the agent, but that authority was not expressly conferred; it is implied.
Management
Page 13 of 333
14. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
The person who has applied to a job advertised or someone who has submitted their CV for inclusion on the searchable
A Resource Applicant
database.
Management
Human A paper or electronic form that must be completed by an employee who desires a certain benefit. Information provided by the
A Resource Application individual allows the insurance carrier or employing organization the information necessary to enroll (or not enroll) the
Management individual.
Human
A Resource Appraisal See Performance planning.
Management
Human Approval Type An agreement issued along with a conditional premium receipt that provides temporary life insurance coverage as of the date
A Resource Temporary Insurance the insurer approves the proposed insured as a standard risk. See also insurability conditional premium receipt and temporary
Management Agreement insurance agreements. Compare to insurability type temporary insurance agreement.
Human
For collectively bargained single employer plans, the bargaining agreement's grievance and arbitration procedure may double
A Resource Arbitration
as a claims procedure.
Management
Several definitions: 1) Allowance paid to compensate expatriate employees for medium-term cultural and hardship factors
Human
present in his or her country of assignment as compared to the base country. (This is also known as a hardship allowance.) (2)
A Resource Area Differential
Allowance paid to domestic employees in some geographic areas, which is based on different average pay levels and or cost
Management of living.
Human
These are standard survey formats used across geographic boundaries so that consistent reporting can illustrate the same
A Resource Area Wage Surveys
jobs and their different pay in various geographic areas.
Management
Page 14 of 333
15. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human Arithmetic Mean (as defined by the U.S. DOL) is the rate of wages to be determined, to the extent feasible, by adding the
A Resource Arithmetic Mean wages paid to workers similarly employed in the area of intended employment and dividing the total by the number of such
Management workers. This computation usually produces a Weighted Average.
The process of conducting In Process Reviews (IPRs) and After Action Reviews (AARs). IPRs help to determine initial
Human
expectations, ascertain strengths and weakness of both employees and the organization, and identify key issues and
A Resource assessing
organizations whose willing support is needed to accomplish the mission. AARs determine how well the goals are being
Management accomplished, usually by identifying areas to sustain and improve.
Human
A method for assessing aptitude and performance; applied to a group of participants by trained assessors using various
A Resource Assessment Center
aptitude diagnostic processes in order to obtain information about applicants' abilities or development potential.
Management
Human
An early method of funding life insurance where members of the plan were charged in advance for the amount of money that
A Resource Assessment Method
the administrators estimated would be needed to pay each year's death claims. Also called the pre-death assessment method.
Management
Human
Geographic, Salary, Benefit, Relocation and Executive Compensation software and databases designed to assist the
A Resource Assessor Series
compensation and benefits analyst and manager with his/her research.
Management
Human An asset is anything of value that is owned by an organization or an individual. Examples are cash, computer equipment, and
A Resource Asset investments. Assets can be any percentage of real property or of personal property that can be liquidated in order to pay debts.
Management Assets are shown on the balance sheet of a company's Annual Statement.
Human
Asset Investment The periodic review of the actions of the asset manager(s) who are investing a qualified pension plan's assets. The plan
A Resource
Performance administrators of such plans have a fiduciary responsibility to conduct this review regularly.
Management
Page 15 of 333
16. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
A transaction whereby the purchaser only acquires title to certain identified assets and or liabilities of the seller, with no
A Resource Asset Sale
obligation for any non-identified liabilities or assets. (A buyer may, for example, acquire only one line of product from a seller.)
Management
Human
Asset Share A method of calculating that imitates the way in which the assets of a particular block of policies should grow, depending on
A Resource
Calculation certain assumptions about future interest rates, morbidity, mortality, expenses and so on.
Management
Human
Asset-Liability The process of investing, purchasing, selling and otherwise adjusting an insurance company's asset holdings so that cash is
A Resource
Matching available when it is needed to cover the company's liabilities.
Management
Human
A Resource Assignee The party to whom all or certain contractual rights are transferred under an absolute or collateral assignment.
Management
Human Several definitions: 1) The transfer of ownership rights in a life insurance policy or other type of contract from one party to
A Resource Assignment another. (2) The document that causes the transfer of ownership rights to go into effect. See also ABSOLUATE ASSIGNMENT
Management and COLLATERAL ASSIGNMENT.
Human
A Resource Assignment Location The country in which an expatriate lives and works during an assignment.
Management
Human
Assignment of An authorization directing an insurer to make payment directly to a provider of benefits, such as a physician or dentist, rather
A Resource
Benefits than to the insured.
Management
Page 16 of 333
17. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
A Resource Assignor The person or party who transfers certain contractual rights under an absolute or collateral assignment.
Management
Human Association
A Resource Organization Organization insurance extended to the members of a trade, professional, or other association.
Management Insurance
Human
Assumption A reinsurance agreement by which one company permanently transfers (cedes) full responsibility for a block of policies to
A Resource
Reinsurance another company. After the cession, the ceding company is no longer a party to the insurance agreement.
Management
Human
The current age of the insured. Also refers to the age of the insured at the time the insured's policy was issued, plus the
A Resource Attained Age
number of years elapsed since the policy was issued.
Management
Human
Attained Age The changing of a life insurance policy from one form of insurance to another (such as from term life insurance to whole life
A Resource
Conversion insurance) at a premium rate that is based on the age the insured person has reached at the time the change takes place.
Management
Human Attendance Bonuses are provided to employees who have maintained perfect attendance for a period of time, typically a full
A Resource Attendance Bonus quarter or year. These bonuses are usually provided in the form of a flat cash amount, additional paid time off, or gift awards
Management upon completion of the period of perfect attendance.
Human
Attending Physician's A written statement from a physician who has treated, or is currently treating, a proposed insured or an insured for one or more
A Resource
Statement (APS) conditions. The statement provides the insurance company with information relevant to underwriting a risk or settling a claim.
Management
Page 17 of 333
18. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
A Resource attributes Characteristics or qualities or properties. Attributes of the leader fall into three categories: mental, physical, and emotional.
Management
Human
A term used to describe voluntary and involuntary terminations, deaths, and employee retirements that result in a reduction to
A Resource Attrition
the employer's physical workforce.
Management
Human
authoritarian A style of leadership in which the leader tells the employees what needs to be done and how to perform it without getting their
A Resource
leadership advice or ideas.
Management
Human
In the United States, this is a corporation that is licensed to accept reinsurance in a state or territory. They are often also called
A Resource Authorized Reinsurer
an Admitted Reinsurer.
Management
Human
Leader determines policy of the organization, instructs members what to do/make, subjective in approach, aloof and
A Resource Autocratic leadership
impersonal.
Management
Human
Automatic Dividend For a specific life insurance policy, this is the dividend option that applies in the event that the policy owner does not choose an
A Resource
Option option. See DIVIDEND OPTIONS.
Management
Human For a specific life insurance policy, a specified nonforfeiture benefit that automatically becomes effective when a renewal
Automatic
A Resource
Nonforfeiture Option
premium is not paid by the end of the grace period and the policy owner has not elected another nonforfeiture option. See also
Management nonforfeiture options.
Page 18 of 333
19. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
Automatic Premium A life insurance nonforfeiture option that allows the insurer to pay overdue premiums on a policy by establishing a loan against
A Resource
Loan (APL) the policy's cash value. See also NONFORFEITURE OPTIONS.
Management
Human A reinsurance agreement in which the reinsurer agrees, for a stipulated type of risk, to accept each risk or a portion of each
Automatic
A Resource
Reinsurance Treaty
risk submitted by the ceding company, up to a certain limit, provided the ceding company insures up to its usual retention limit.
Management In this agreement, the ceding company assumes full underwriting responsibility for all cases reinsured.
Human
Automatic Wage
A Resource
Adjustment
Automatically increasing or decreasing wages according to a specific plan formula.
Management
Human
Automatic Wage Automatically increasing wages after specified periods of service, until the employee reaches the top of his or her salary range.
A Resource
Progression Automatic wage progression often is achieved through an automatic step-rate pay system.
Management
Human
A Resource Automobile Benefits An allowance to an employee for the use of his/her own automobile, which may or may not be taxable.
Management
Human
Companies that maintain a fleet of cars for the use of employees who require transportation for business purposes may
A Resource Automobile Insurance
purchase insurance for automobiles and drivers of the automobiles.
Management
Human
The average is the result of dividing the sum of two or more quantities by the number of quantities. Example: (a + b + c)/3 = the
A Resource Average
average. See also mean.
Management
Page 19 of 333
20. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
Average Frequency Normally calculated on a department-wide or company-wide basis. It is determined by summing up the months between
A Resource
(Of Salary Increases) increases granted for the employee groups and dividing by the number of increases and employees.
Management
Human
Average Hourly
A Resource
Earnings
Hourly pay determined by dividing hours worked per period into the total wages earned for that period.
Management
Human In the United States, this is the figure on which social security disability, retirement and other benefits are based. The figure is
Average Indexed
A Resource
Monthly Earnings
an average of the monthly earnings on which a worker has paid Social Security tax. The figure is indexed, that is, adjusted to
Management compensate for inflation.
Human
Average Percent Calculated by dividing the sum of salary increase amounts for all eligible employees by the eligible payroll. Both the numerator
A Resource
Increase and the denominator include those who were eligible and participated but received no increase.
Management
Human
Average Straight- Hourly pay determined by dividing the hours worked per period into the total straight-time earnings for the period (excluding
A Resource
Time Hourly Earnings overtime).
Management
Human Awards, prizes and gifts are a traditional way for employers to recognize and reward employees for their contributions to the
A Resource Awards company. Such contributions may comprise long years of service, a cost-saving suggestion, a good safety record, or
Management outstanding performance.
Human
B Resource Baby boomers Those born between 1946 and 1964, when birth rates rose sharply, and now a popular target group for marketers.
Management
Page 20 of 333
21. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human The amount of lost earnings accruing between the time a plaintiff terminates employment and a subsequent measuring date.
B Resource Back Pay Like Front Pay, it is not subject to the Civil Rights Act of 1991 $300,000 liability cap. Each can be awarded over and above any
Management compensatory or punitive damages.
A life insurance policy (usually a universal life insurance policy) in which most of the expense charges occur when the policy
Human
owner surrenders the policy or makes cash withdrawals from the policy. Such charges are usually highest in the early policy
B Resource Back-Loaded Policy
years and are often eliminated at the end of a certain number of years. See also front-loaded policy and universal life
Management insurance.
Human
The practice of providing a higher accrual of pension benefits during a participant's later years of employment. The practice is
B Resource Back-Loading
designed to encourage and reward long service.
Management
Human
Refers to withholding 20% of payments for federal income taxes unless the payee has a correct Social Security number on file
B Resource Backup Withholding
with the employer, or is otherwise not subject to withholding.
Management
Human
An acquisition transaction (usually initiated by the seller) in which the seller is in poor financial condition and another company
B Resource Bail Out
purchases the financially troubled company and improves their financial condition.
Management
Human
A financial statement of a company or other entity, showing what it owns (assets), what it owes (liabilities), and the owner's
B Resource Balance Sheet
investment (shareholders equity) at a point in time such as the end of the fiscal year.
Management
Human An accounting term that describes a situation where debits and credits must match. The balance sheet approach is used to set
Balance Sheet
B Resource
Approach
expatriate compensation. There the goal is to protect or equalize an expatriate's purchasing power while on assignment
Management abroad. Its primary objective is to ensure equity among expatriates and their home or base country peers.
Page 21 of 333
22. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
A popular strategic management concept developed in the early 1990's by Drs. Robert Kaplan and David Norton, the balanced
Human scorecard is a management and measurement system which enables organizations to clarify their vision and strategy and
B Resource Balanced Scorecard translate them into action. The goal of the balanced scorecard is to tie business performance to organizational strategy by
Management measuring results in four areas: financial performance, customer knowledge, internal business processes, and learning and
growth.
Human
The grouping of life insurance policies according to death benefit amounts for the purpose of calculating loading or expense
B Resource Band Grading
charges.
Management
Human
A standard bankruptcy liquidates a business or individual. Then, subject to specific exemptions, assets of the bankrupt are
B Resource Bankruptcy
collected and paid to creditors.
Management
Human
B Resource Bar Chart A graph displaying data in a frequency distribution represented by horizontal or vertical bars.
Management
Human
Base Country or In international compensation, this is the country upon which an expatriate's compensation is based. It is usually the
B Resource
Home Country expatriate's home country or the country in which the employee's headquarters is located.
Management
Human
Base pay is the salary that would be paid for a position on the basis of its level. For expatriate's it is the stated home country
B Resource Base Pay
salary before any addition of differentials, allowances or incentives for Foreign Service or required contributions.
Management
Human
Determined by the sum of annual salaries and or wages (base rates) paid at the opening of business on the first day of the
B Resource Base Payroll
plan year or last day of prior year, e.g., Dec. 31, before any increase.
Management
Page 22 of 333
23. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
Base Rate or Base The rate of pay set for a unit of work before anything extra is added. This rate does not include things like shift differentials,
B Resource
Wage Rate benefits, overtime, incentive premiums or any other pay element other than the base rate.
Management
Human
B Resource Base Salary or Wage The basic rate of pay (excluding overtime pay).
Management
Human
Base wage rate (or The hourly rate or monthly salary paid for a job performed. Does not include shift differentials, benefits, overtime, incentive
B Resource
base rate) premiums, or any pay element other than the base rate.
Management
Human The death benefit according to the terms of the original, basic contract of a life insurance policy. The basic death benefit does
B Resource Basic Death Benefit not include the benefit for any supplementary riders, such as an accidental death benefit (ADB) rider. For policies whose death
Management benefit remains constant, the basic death benefit is equivalent to the face amount.
Human
Basic Earnings Per The net earnings available to common shareholders of an organization divided by the weighted average of total shares
B Resource
Share outstanding. No consideration is given in this calculation for common stock equivalents such as stock options.
Management
Human
B Resource Basic Mortality Table A mortality table without a safety margin. Also called a basic experience table. See also mortality table and safety margin.
Management
Human
Basic Plan with Major A medical insurance plan that provides for coverage of almost all hospital and surgical charges and some other medical
B Resource
Medical expenses, up to a specified amount without a deductible.
Management
Page 23 of 333
24. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
Commonly covered items on an insurance policy (e.g. Dental procedures specified in a dental insurance plan such as
B Resource Basic Services
diagnostic, preventive, and routine restorative dental services).
Management
Several definitions: 1) From an investment point of view, this is a provision that allows insurance companies to invest a small
Human
percentage of their assets generally without regard to statutory restrictions. (2) From an accounting point of view, this is a
B Resource Basket Clause
clause that permits life, and health insurers to hold a specified amount of their assets as nonauthorized assets, which are not
Management restricted in the same way as authorized assets.
Human
Behavior Based Any performance assessment system that concentrates on the behaviors of those being rated (such as behavioral expectation
B Resource
Appraisal scales, behaviorally anchored rating scales, or behavioral observation scales).
Management
Human An interview technique which focuses on a candidates past experiences, behaviors, knowledge, skills and abilities by asking
Behavioral based
B Resource
interview
the candidate to provide specific examples of when they have demonstrated certain behaviors or skills as a means of
Management predicting future behavior and performance.
Human The behavior of the employee which is the subject of measurement and appraisal in terms of whether or not the behaviors
Behavioral
B Resource
competency
shown by an employee are those identified by job analysis/competency profiling as those contributing to team and/or
Management organizational success.
Human Behaviorally An appraisal that requires raters list important dimensions of a particular job and collect information regarding the critical
B Resource anchored rating scale behaviors that distinguish between successful and unsuccessful performance. These critical behaviors are then categorized
Management (BARS) and appointed a numerical value which is used as the basis for rating performance.
Human
B Resource beliefs Assumptions and convictions that a person holds to be true regarding people, concepts, or things.
Management
Page 24 of 333
25. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
Below Market Rate This is a compensation-related loan. It is any loan bearing a below-market interest rate made in connection with performance
B Resource
Employee Loans of services directly or indirectly between an employer and employee.
Management
Human
A standard job used to make pay comparisons, either within the organization or to comparable jobs outside the organization, to
B Resource Benchmark job
develop or validate a job-worth hierarchy. Pay data for these jobs are readily available in purchased surveys.
Management
Human
B Resource Benchmark Job Data Market and company data for surveyed jobs.
Management
Human
A set of measurements (metrics) that is used to establish goals for performance improvements. These are often derived from
B Resource benchmark measures
other firms that display "Best In Class" performance.
Management
Human
A technique using quantitative or qualitative data to make comparisons between different organizations or different sections of
B Resource Benchmarking
the organizations.
Management
Human The person designated to receive the benefits resulting from the death of an employee, such as the proceeds of a life or
B Resource Beneficiary accidental death insurance policy or benefits from a pension plan. See also Contingent Beneficiary, Irrevocable Beneficiary,
Management Primary Beneficiary, and Revocable Beneficiary.
Human
Beneficiary Specific to Canada, an insurance policy beneficiary designation that is made in a separate written document after the
B Resource
Declaration insurance policy has been issued.
Management
Page 25 of 333
26. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
For insurance purposes this is the amount of money paid when an insurance claim is approved. Also known as the policy
B Resource Benefit
benefit.
Management
Human
Benefit of A term used to describe the fact that annuity payments will be made as long as the designated recipient is alive at the time the
B Resource
Survivorship payment is due. This concept is used in the calculation of amounts due under life insurance settlement options.
Management
Human
Benefit Plans - Health
B Resource
Care
The two types of health care benefit programs are indemnity programs and health maintenance organizations.
Management
Human
Benefit Plans - A Retirement Plan is an agreement on the part of management to provide a vehicle for the retirement income needs of
B Resource
Retirement employees. Such plans may be qualified or non-qualified for tax purposes.
Management
Human
A cost-containment measure utilized by an organization to reduce its expenses through reduction in benefit coverage (e.g.
B Resource Benefit Reductions
increase in medical plan deductibles, increase in employee contributions, reduction in annual limits in dental plans).
Management
Human Under an organization's insurance plan, this is a table or schedule that specifies the amount of coverage, provided for each
B Resource Benefit Schedule class of insured. Insureds are often classified with reference either to earnings or to rank or position. Also called a schedule of
Management benefits.
Human
B Resource Benefit Statements Each year employees must be given an individual benefit statement that explains accrued benefits to date and vesting status.
Management
Page 26 of 333
27. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Employers provide a package of additions to the base salary to employees. These benefits can include health insurance,
Human
dental insurance, life insurance, disability insurance, a severance package, tuition assistance, and more. On average,
B Resource Benefits
organizations spend 41 cents for benefits for every dollar of payroll. That‘s 29 percent of the total employee compensation
Management package.
Human
The total value of all non-cash compensation elements, including but not limited to income protection, health coverage,
B Resource Benefits Packages
retirement savings, vacation and income supplements for employees, provided in whole or in part by employer payments.
Management
Human
An amendment to the Civil Rights Act of 1964 that states that it shall not be unlawful practice to differentiate compensation on
B Resource Bennett Amendment
the basis of sex if such differentiation is authorized by the Equal Pay Act.
Management
Human
Paid days off following the death of an employee‘s spouse, parent, child grandparent or in-law so that the employee may attend
B Resource Bereavement leave
funeral proceedings, etc.
Management
Human
A benefit plan that calculates a recipient's retirement benefit based on the period during which the employee earned his or her
B Resource Best Earnings Plan
highest income.
Management
A mathematical measure of the volatility of a particular stock, mutual fund, and/or portfolio in comparison with the entire
Human
market. Specifically, it measures the stock, fund or portfolio performance during the last 5 years. A beta of 1.0 indicates that an
B Resource Beta
asset closely followed the market; a beta greater than 1.0 indicates a greater volatility than the market - a beta of less than 1.0
Management indicates that the asset was less volatile than the market.
Human
B Resource BFOQ Bona Fide Occupational Qualifications – legally defensible minimum qualifications to perform the job.
Management
Page 27 of 333
28. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human Bilingual Differential is a cash differential that is paid in addition to base salary for language skills that are required in a job. The
B Resource Bilingual Differential differential also provides a continual reminder to the employee that he or she is compensated for this ability in addition to
Management performance of the job.
Human
B Resource Bimodal Distribution A probability distribution with two modes.
Management
Human
Binding Premium A type of initial premium receipt that makes insurance coverage effective immediately, but only until the insurance company
B Resource
Receipt either rejects the application or approves it and issues a policy.
Management
Human
Binomial Option A mathematical formula that determines a theoretical value for an option on stock subject to trade on an option exchange. May
B Resource
Pricing Model be used by a company that chooses to apply the FAS123 rule to stock granted to employees.
Management
Human A provision that specifies the manner in which benefits for dependent children are to be coordinated between two insurance
B Resource Birthday Rule plans. According to the birthday rule, benefits for dependent children will be paid by the plan of the parent whose birthday falls
Management earlier in the year.
Human A mathematical model originally derived by economists Myron Scholes, Robert Merton, and Fischer Black to value stock
B Resource Black-Scholes Model options traded on public markets. The Black-Scholes Formula provides a way to determine the worth of a CALL OPTION at
Management any given time. To find out how to use this formula, see DLC Course 22: Black-Scholes Valuations.
Several definitions, two of which are listed: 1) Organization mortality rates that are based, in part, on a group's own experience
Human
and in part on manual rates. These Blended Rates are used to determine the appropriate organization insurance premium
B Resource Blended Rates
rates for intermediate-size groups. See also Experience Rating and Manual Rates. (2) A rate offered by a lender, which is
Management somewhere between a previous rate and a new loan rate.
Page 28 of 333
29. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
B Resource BLS U.S. Government's Bureau of Labor Statistics.
Management
Human
A health care plan offered by a regionally-operated health care provider, having any of these insurance products: PPO, fee-for-
B Resource Blue Cross Plan
service, HMO, or POS. A provider of such plans belongs to the Blue Cross and Blue Shield Association.
Management
Human
A health care plan offered by a regionally-operated health care provider, having any of these insurance products: PPO, fee-for-
B Resource Blue Shield Plan
service, HMO, or POS. A provider of such plans belongs to the Blue Cross and Blue Shield Association.
Management
Human Bonafide
Typically refers to a valid job requirement, i.e., a knowledge, skill or an ability level that is required for competent job
B Resource Occupational
performance. Origin of the term BFOQ is found in Title VII of the Civil Rights Act (1964).
Management Qualification (BFOG)
Human A debt instrument issued for a period of more than one year with the intent of raising capital by borrowing. The Federal
B Resource Bond government, states, cities, corporations, and other types of institutions sell bonds. A bond is typically a promise to repay the
Management principal loan along with interest on a specified date of maturity.
Human
Plans that award cash or other items of value, such as stock (or stock options), based on accomplishments achieved. While
B Resource Bonus
incentive plans are 'forward' looking' bonus plans are 'backward looking'.
Management
Human
Plans that award cash or other items of value, such as stock or stock options, based on accomplishments achieved. Incentive
B Resource Bonus (Pay Plans)
plans are 'forward' looking; bonus plans are 'backward' looking.
Management
Page 29 of 333
30. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
B Resource Bonus Eligible Refers to groups or classes of employees eligible to participate in a bonus program.
Management
Human
A payment in addition to base salary that is made regardless of performance, e.g., an incentive award that is guaranteed,
B Resource Bonus Guarantee
usually to a new hire or to a newly promoted person. It is usually nonrecoverable by the company.
Management
Human
An employee rewards plan that increases the incentive as the employee performance exceeds predetermined degrees of
B Resource Bonus Progressivity
performance. See PROGRESSIVITY OF INCENTIVES.
Management
Human
A type of long-term incentive plan, whereby an employee is awarded stock valued at the book value per share. In this kind of
B Resource Book Unit Award Plan
plan an increase in the book value of the stock accrues to the benefit of the employee.
Management
Human
Total shareholders' equity divided by the number of common shares outstanding. Book value is sometimes used in incentive
B Resource Book Value (BV)
plans in privately owned companies where the fair market value of shares is not readily known.
Management
Human
Book Value Purchase An incentive program in which employees purchase shares of their organization at book value. They subsequently can sell the
B Resource
Plans shares back to the organization at the then book value.
Management
Human
B Resource Bottom Line An individual's or company's profit after taking into consideration all expenses, income and taxes.
Management
Page 30 of 333
31. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
A technique for teams that is used to generate ideas on a subject. Each person on the team is asked to think creatively and
B Resource brainstorming
write down as many ideas as possible. After the writing session, the ideas are discussed by the team.
Management
Human
The individual typically in charge of a field office. For insurance companies, this individual uses the Branch Office Distribution
B Resource Branch Manager
System. Also called a general manager.
Management
A common system for selling individual life insurance. Under this system, the soliciting agents who work out of a branch office
Human are under contract to the insurance company, not to the branch manager. The agents receive commissions directly from the
Branch Office
B Resource
Distribution System
insurance company. The branch office manager, supervisors, and clerical personnel in the field office are employees of the
Management insurance company; and these employees are subject to the same types of controls normally exercised by an employer. See
also AGENCY SYSTEM and BRANCH MANAGER.
Human
The process of identifying and differentiating an organization‘s products, processes or services from another organization by
B Resource Branding
giving it a name, phrase or other mark.
Management
Human
A breach is a violation or infraction, as of a law, a legal obligation, or a promise. When applied to an employee, it is grounds for
B Resource Breach of Duties
dismissal.
Management
The length of time between the date on which an employee leaves an organization and the date on which the employee
Human
resumes working for that firm. For pension and employee benefit plan purposes in the United States, a plan participant cannot
B Resource Break In Service
be deprived of benefits that accumulate before a break in service, unless the break is longer than (1) five years or (2) the
Management amount of time that the participant has been employed when the break commences.
Human Break In Service Year An anniversary year during which a plan participant does not complete more than 500 hours of service and earns no pension
B Resource (Erisa Pension-Plan benefits. If a non-vested employee incurs five or more consecutive break years, that employee may lose all the time towards
Management Standards) vesting under the plan.
Page 31 of 333
32. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human This is a loan typically secured by your current home, which is usually listed for sale. The bridge loan is used to finance the
B Resource Bridge Loan purchase of the second home. The homeowner usually has a year within which to sell or rent the first home and to pay off the
Management loan with the proceeds.
A Canadian program that provides a supplemental pension to a pension plan participant who retires before age 65. The
bridging supplement is generally used to integrate private pension plans with public pension plans. If a pension plan participant
Human
retires before age 65, the plan sponsor can provide a bridging supplement until the retiree turns 65 and begins to receive
B Resource Bridging Supplement
payments from the public pension plans. The combined benefit payment that the participant receives remains level and is the
Management same as the participant would have received had he or she waited until the age of 65 before beginning to receive benefits. The
sponsor is providing an amount in addition to the basic pension payment. Known also as a Bridging Benefit.
Human
B Resource Broadbanding A pay structure that consolidates a large number of narrower pay grades into fewer broad bands with wider salary ranges.
Management
Human
A person or firm who, for a fee or commission, acts as an intermediary between a buyer and seller. Usually a license is
B Resource Broker
required.
Management
Human Other than a bank, any individual or firm that is in the business of buying and selling securities for itself and others. Called an
B Resource Broker Dealer agent or broker when buying securities and a principal or dealer when selling them. The SEC requires that broker/dealers not
Management only register with the SEC but also with the states in which they conduct business.
Human
Brokerage A distribution system relying on commissioned agents, called brokers, who sell the products of more than one insurance
B Resource
Distribution System company.
Management
Human
A salaried insurance company employee or an independent agent whose responsibility is to appoint brokers on behalf of the
B Resource Brokerage Manager
company and to encourage brokers to sell the products of a particular insurance company.
Management
Page 32 of 333
33. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
An agency operated by an independent general agent who is under contract to a number of insurance companies. Also known
B Resource Brokerage Shop
as a Brokerage General Agency.
Management
Human
Brother-Sister When a third corporation, group, or person owns two or more corporations this arrangement is typically known as 'brother -
B Resource
Arrangement sister.'
Management
Human
B Resource Budget An itemized plan of an individual or company's income and expenses expected for a future period of time.
Management
Human An activity focused on sustaining and renewing the organization. It involves actions that indicate commitment to the
B Resource building achievement of group or organizational goals: timely and effective discharge of operational and organizational duties and
Management obligations; working effectively with others; compliance with and active support of organizational goals, rules, and policies.
Human Bulletin Boards are one method of posting information that is of general interest to employees. This may include information
B Resource Bulletin Boards that employers are required to make available to employees such as equal employment policies, safety requirements, and
Management other government regulations.
Human The practice of allowing more senior level employees whose positions have been slotted for elimination or downsizing the
B Resource Bumping option of accepting an alternative position within the organization, for which they may be qualified to perform and which is
Management currently occupied by another employee with less seniority.
Human An insurance product in which the mortality, investment, and expense factors are all used to determine premium rates. Cash
Bundled Insurance
B Resource
Product
values are not separately identified in the policy. Usually whole life insurance is an example of a bundled insurance product.
Management See and contrast with UNBUNDLED INSURANCE PRODUCT.
Page 33 of 333
34. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human This is the United States Federal Government's major fact-finding agency in the field of labor economics and statistics. Its
Bureau Of Labor
B Resource
Statistics (BLS)
responsibilities include finding data on wage, national pay, and industry surveys, such as the National Compensation Survey
Management (NCS) and the Occupational Employment Survey (OES).
Human Business An insurance type for closely held businesses, it is designed to provide funds to enable the remaining partners in a business,
B Resource Continuation or the remaining stockholders in a closely-held corporation, to purchase the business interest of a deceased or disabled
Management Insurance partner or stockholder. Compare with PARTNERSHIP INSURANCE and STOCK REEPURCHASE INSURANCE.
Human Several definitions: 1) This is the cost of operating a business. It is a deductible for federal income tax purposes. 2) Where the
B Resource Business Expenses employee is concerned, a business expense is that expense for which the employee is reimbursed and which is not included in
Management his/her pay.
Human
B Resource Business Insurance This type of insurance is intended to serve the insurance coverage needs of a business, as opposed to that of an individual.
Management
Human
Business Travel An insurance plan that covers both employees and the employer should an accident occur while the employee is traveling on
B Resource
Accident Insurance company business.
Management
Human
Business Travel An insurance plan that covers both employees and the employer should an accident occur while the employee is traveling on
B Resource
Accident Plan company business.
Management
Human
In the United States many states require that insurance companies make this publication available to an applicant for life
B Resource Buyer's Guide
insurance. The Buyer's Guide enables the applicant to make a better-informed choice among policies.
Management
Page 34 of 333
35. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human The inverse of cost of living. COST OF LIVING is the cost of purchasing goods and services, as determined by the demand
B Resource Buying Power and supply of goods, services, and property. For example, if the cost of living is 10% higher in an area, the buying power is
Management approximately 10% less in that area.
Human
Also known as a flexible benefit plan, offers each employee several choices as to the types and or amounts of organization
C Resource Cafeteria Plan
benefits. An employee is given a set amount, and he or she can choose how it is spent.
Management
Human A guarantee of pay for a minimum number of hours when employees, who are not scheduled to work and who are not on call,
C Resource Call Back Pay are called back to their work. They receive pay for at least the minimum number of hours established, even if they do not end
Management up working up to those many hours.
Human This is the guaranteed pay for a set minimum amount of time for employees who show up to work at the usual time and for
C Resource Call In Pay whom there is no work. The employees receive pay for at least the specified minimum number of hours, even if they did not
Management work at all.
Human
A stock option contract that gives you the right to purchase a specified quantity of stock at a specified strike price by a
C Resource Call Option
specified expiration date.
Management
Human
Canada Pension Plan This plan applies to all Canadian provinces (with the exception of Quebec). This plan primarily provides for retirement and long-
C Resource
(CPP) term disability income benefits to residents.
Management
Human Canadian Council Of Similar to the National Association of Insurance Commissioners in the United States, this Canadian organization of provincial
C Resource Insurance Regulators insurance regulators meet regularly to discuss insurance matters. The Council also develops model insurance legislation,
Management (CCIR) which it encourages legislatures to adopt.
Page 35 of 333
36. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human Canadian Life And Most of the life and health insurance companies in Canada belong to this Association. Their main responsibility is to conducts
C Resource Health Insurance research on insurance issues and to promote the best interests of the insurance industry. The CLHIA is the main source of
Management Association (CLHIA) information about the life and health insurance industry in Canada.
Canadian Life And
Human Health Insurance This is a federally incorporated, nonprofit company established by the Canadian Life and Health Insurance Association
C Resource Compensation (CLHIA) in order to protect consumers against loss of benefits in the event a life or health insurance company becomes
Management Corporation insolvent.
(CompCorp)
Human
C Resource Canadian Method A Canadian prescribed method for the calculation of modified net premiums and reserves.
Management
Human
An individual health insurance policy that can be terminated at any time by the insurer. See also CONDITIONALLY
C Resource Cancelable Policy
RENEWABLE POLICY, GUARANTEED RENEWABLE POLICY, and OPTIONALLY RENEWABLE POLICY.
Management
Human
The total incentive opportunity a sales representative can earn in a given period. Sometimes a cap is referred to as the
C Resource Cap
maximum, the lid, or the ceiling.
Management
Human
The capability of a worker, system, or organization to produce output per time period. It can be classified as budgeted,
C Resource capacity
dedicated, demonstrated, productive, protective, rated, safety, or theoretical.
Management
Human The value of all the assets employed in the course of business (e.g. equity and preference capital, fixed and current assets,
C Resource Capital Employed and gross borrowings). Sometimes used as a measure of performance for executive incentive plans. Most commonly used in
Management the calculation of Return on Capital Employed. See also RETURN ON CAPTIAL EMPLOYED.
Page 36 of 333
37. Encyclopedia Human Resource Management (2289 Terms) Powered by www.drawpack.com; All rights reserved.
Human
C Resource Capital Expenditures Monies spent to acquire or upgrade physical assets such as buildings and machinery.
Management
Human
Capital Gains
C Resource
Taxation
A tax levied on profits realized from the sale of a capital asset, such as stock and real estate.
Management
A health insurance payment method whereby a fixed amount of money is paid per person to cover all services, without regard
Human
to the number or nature of services rendered to each person within a set period of time. It is the provider who bears the
C Resource Capitation Basis
financial responsibility to coordinate patient care within the fees or capitated rate for all patients. See also FEE SCHEDULE
Management BASIS.
Human
Agents who work exclusively for one insurance company and who may not represent another company. See also EXCLUSIVE
C Resource Captive Agents
AGENTS.
Management
Usually set up and owned by a parent company for the purpose of insuring the parent company's exposures to loss. This type
Human
Captive Insurance of insurance company provides insurance coverage at a lower cost than is available by going through the general insurance
C Resource
Company market. A captive insurance company may be either a non-admitted, nonresident, or foreign insurer. May also provide
Management reinsurance to a self-insure or a domestic company.
Human A full-time commissioned salesperson who works out of an insurance company's field office, holds an agent contract with that
C Resource Career Agent company, and sends most or all of his or her business to that company. On occasions, a career agent may broker business
Management with other companies.
Human
A method used to calculate payout to a retiree in a defined-benefit pension plan by determining average annual salary. Years
C Resource Career Average
where less than 1,000 hours were worked may not always be included in the calculation.
Management
Page 37 of 333