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What Are Pre-Tax Deductions? A pre-tax deduction refers to any amount that is deducted from a worker’s gross pay before any other taxes are taken from that employee’s paycheck. This reduces an employee’s income tax by reducing their taxable income. It can also mean that an employee owes less FICA tax, which includes Medicare and […]

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What Does Punctual Mean? Punctual (or punctuality) refers to doing something or arriving at the expected time. It essentially means not being late. When Is Punctuality Important for Business? Being punctual is drilled into us from an early age, but many people suffer from poor punctuality, which can have an adverse effect on your business. […]

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What Is Merit Pay? Merit pay falls under the umbrella concept of “pay for performance.” It refers to pay raises based on an employee’s performance after being appraised, often by the line manager. The scale of the increased pay is often based on the quality of the appraisal. The better your appraisal, the higher the […]

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What Is a Notice Period? Notice period is the amount of time between when an employee notifies their organization that they will be leaving their job and when they actually leave. On the flip side, it’s the amount of time that an employer has to give their employee if they are terminating the contract – […]