Glossary

ERI Economic Research Institute is pleased to provide an expanded and updated glossary of commonly used compensation terms and formulas for your ongoing reference.

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Employment Contract

In a way, all employment is an employment contract, but at times it is in the interests of the company to establish a written agreement. This is usually for a key employee. Such a contract usually includes a written guarantee of receiving certain rewards, regardless of the results produced on the job beyond a stipulated period. The employment contract may also have other stipulations, such as a no competition clause (where the new employee agrees not to compete with the business of the present employer for a certain amount of time).

Employer Contribution
Employment Taxes

Planning Compensation Incentives That Maximize Workforce Engagement

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Planning Global Compensation Budgets for 2024 - March Updated

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Common Compensation Terms and Formulas

  • Includes the latest updates: Compensable factors, defined benefit plan, job leveling, lead differential, shift differential and more.
  • Salary structure formulas and strategies
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