Social Security
Social Security refers both to the taxation of employee earnings and the distribution of federal benefits under the Social Security Act of 1935. A Closer Look at Social Security The Social Security Act was signed into law by President Franklin D. Roosevelt on August 14, 1935, creating a foundational social insurance system in the United […]
Skills gap
A skills gap exists when there’s a mismatch between the skills employees currently possess and the skills required to successfully perform their roles. When multiple employees across an organization face this gap, it can hinder productivity, project execution, and overall performance. Why the Skills Gap Is a Growing Concern Over the past decade, the struggle […]
Severance pay
Severance pay is a form of temporary compensation and may also include continued benefits or other perks. It is offered by employers to employees who are being let go, typically as part of a formal separation agreement. A Closer Look at Severance Compensation Severance arrangements are usually governed by a company policy or outlined within […]
Semi-Monthly Pay Period
A semi-monthly pay schedule means employees are paid twice each month, typically on fixed dates, such as the 1st and the 15th, or the 15th and the last day of the month. Understanding Semi-Monthly Pay Frequency Also known in payroll contexts as bi-monthly pay, this structure results in 24 pay periods per year. Although the […]