Examlex
What does the following element description actually mean? O
Overtime
Refers to hours worked above the normal 40-hour workweek, for which there is usually a pay premium.
Above-Market Compensation
Compensation that exceeds the average pay levels in the relevant industry or sector.
Voluntary Turnover
When an employee decides to leave a company based on personal choice rather than being forced out due to layoffs or termination.
Labor Costs
Labor costs represent the total expenses incurred by employing labor, including wages, salaries, benefits, and taxes, and are a critical factor in the overall cost structure of businesses.
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