Allowance
Created Sep 18, 2024 (06:09)
by TAN, Li-Lian
Definition
Any regular cash income in addition to Base Salaryfor a specific matter caused by the employment that is not related to individual or collective performance, for example meal vouchers, housing allowance. Allowances are always country specific and are determined or required by local legislation, local market practices or local agreements.
Label(s)
Annual Base Salary
Created Sep 18, 2024 (06:09)
by Costa, Joana
Definition
The base salary rewards and recognizes our employees for the performance of their core job responsibilities, skills and competences in alignment with local legislation and local market practice. The base salary amount is established and agreed upon hire and when an employee enters a new role. It can later be adjusted through the annual salary review process, a promotion or a market pay adjustment.
Words linked: annual salary review; ABS; promotion
