Guide for Reducing Financial Leakage inContract Workforce Management

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glossary

Employee Benefits

Employee Benefits are the things that companies give to their employees apart from their regular salary. These benefits are meant to make employees happy, secure and satisfied with their jobs.Having an employee benefits plan is important for a company because it helps them keep their employees happy and working well. It also helps the company keep its employees for a time.

Common Categories of Employee Benefits :

  • Medical and health insurance
  • Paid time off including Earned Leave, Sick Leave and Casual Leave
  • Provident Fund, gratuity and other benefits that the law says companies must give Incentives when you do a good job
  • Plans for when you retire
  • Arrangements that help you work better and feel good

Good employee benefits programmes help companies keep their employees motivated and happy. This makes the workplace a nice place to be. Earned Leave is a part of these benefits. It helps employees plan their time off. Employee Benefits are important for companies. They include things, like Earned Leave, which is a type of paid leave.

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Earned Leave (EL)

Earned Leave, also called Privilege Leave is a kind of paid time off that you get when you work for a company. You get this leave when you complete your working days. The company adds it to your account from … Read more

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Employee Database

An Employee Database is a repository that stores, manages and retrieves employee-related records. This database is usually maintained through Human Resource Management Systems, Enterprise Resource Planning platforms or other administrative systems. The employee database is crucial for workforce management ensuring … Read more

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Absence Management

Absence management is the process of tracking, reviewing, approving and managing employee absence from work. It covers planned leaves, unplanned absence, sick leave, leave without pay, missed attendance and absence patterns that may affect daily operations. The goal is not … Read more

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