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On-target Earnings
"On-track" or "on-target" earnings (OTE) is a term often seen in job advertisements, especially for sales Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. The seller, or the provider of the goods or services, completes a sale in r ... personnel. It is the expected total pay, if performance matches the expected targets. Actual pay may be higher or lower. The typical pay structure may be composed of a basic salary with an additional amount of commission, known together as a "package". The package usually involves a contract between the company and the salesperson that ensures a specific commission percentage, fixed lump sum payment, or a combination of both, provided that the salesperson hits specified sales targets. While all commission plans are unique, often exceeding sales targets results in higher commission rates on sales beyond target for a specific pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Recruitment
Recruitment is the overall process of identifying, sourcing, screening, shortlisting, and interviewing candidates for jobs (either permanent or temporary) within an organization. Recruitment also is the processes involved in choosing individuals for unpaid roles. Managers, human resource generalists and recruitment specialists may be tasked with carrying out recruitment, but in some cases public-sector employment, commercial recruitment agencies, or specialist search consultancies are used to undertake parts of the process. Internet-based technologies which support all aspects of recruitment have become widespread, including the use of artificial intelligence (AI). Process * Job analysis for new jobs or substantially changed jobs. It might be undertaken to document the knowledge, skills, abilities and other characteristics (KSAOs) required or sought for the job. From these, the relevant information is captured in a person specification. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales
Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. The seller, or the provider of the goods or services, completes a sale in response to an acquisition, appropriation, requisition, or a direct interaction with the ''buyer'' at the point of sale. There is a passing of title (property or ownership) of the item, and the settlement of a price, in which agreement is reached on a price for which transfer of ownership of the item will occur. The ''seller'', not the purchaser, typically executes the sale and it may be completed prior to the obligation of payment. In the case of indirect interaction, a person who sells goods or service on behalf of the owner is known as a salesman or saleswoman or salesperson, but this often refers to someone selling goods in a store/shop, in which case other terms are also common, including '' salesclerk'', ''shop assistant'', and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salary
A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. From the point of view of running a business, salary can also be viewed as the cost of acquiring and retaining human resources for running operations, and is then termed personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. Salary is typically determined by comparing market pay rates for people performing similar work in similar industries in the same region. Salary is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commission (remuneration)
Commissions are a form of variable-pay remuneration for services rendered or products sold. Commissions are a common way to motivate and reward salespeople. Commissions can also be designed to encourage specific sales behaviors. For example, commissions may be reduced when granting large discounts. Or commissions may be increased when selling certain products the organization wants to promote. Commissions are usually implemented within the framework on a sales incentive program, which can include one or multiple commission plans (each typically based on a combination of territory, position, or products). Payments are often calculated using a percentage of revenue, a way for firms to solve the principal–agent problem by attempting to realign employees' interests with those of the firm. However, models other than percentages are possible, such as profit-based approaches, or bonus-based approaches. Commissions allow sales personnel to be paid (in part or entirely) based on products ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lump Sum
A lump sum is a single payment of money, as opposed to a series of payments made over time (such as an annuity). The United States Department of Housing and Urban Development distinguishes between " price analysis" and "cost analysis" by whether the decision maker compares lump sum amounts, or subjects contract prices to an itemized cost breakdown. In 1911, American union leaders including Samuel Gompers of the American Federation of Labor expressed opposition to lump sums being awarded to their members pursuant to a new workers compensation law, saying that when they received lump sums rather than periodic payments the risk of them squandering the money was greater. ''The Financial Times'' reported in July 2011 that research by Prudential had found that 79% of polled pensioners in the UK collecting a company or private pension that year took a tax-free lump sum as part of their retirement benefits, as compared to 76% in 2008. Prudential was of the view that for many retir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executive Pay
Executive compensation is composed of both the financial compensation (executive pay) and other non-financial benefits received by an executive from their employing firm in return for their service. It is typically a mixture of fixed salary, variable performance-based bonuses (cash, shares, or call options on the company stock) and benefits and other perquisites all ideally configured to take into account government regulations, tax law, the desires of the organization and the executive. The three decades from the 1980s saw a dramatic rise in executive pay relative to that of an average worker's wage in the United States, and to a lesser extent in a number of other countries. Observers differ as to whether this rise is a natural and beneficial result of competition for scarce business talent that can add greatly to stockholder value in large companies, or a socially harmful phenomenon brought about by social and political changes that have given executives greater control over the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employment Compensation
Remuneration is the pay or other financial compensation provided in exchange for an employee's ''services performed'' (not to be confused with giving (away), or donating, or the act of providing to). A number of complementary benefits in addition to pay are increasingly popular remuneration mechanisms. Remuneration is one component of reward management. In the UK it can also refer to the automatic division of profits attributable to members in a Limited Liability Partnership (LLP). Types Remuneration can include: * Commission *Employee benefits *Employee stock ownership *Executive compensation **Deferred compensation *Salary **Performance-linked incentives *Wage * Mandatory compensation payable by an employer to an employee for the benefit obtained from a patent for an invention made by an employee United States For wage withholding purposes under U.S. income tax Income taxes in the United States are imposed by the federal government, and most states. The income taxes are d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
