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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Rightsizing

This is a term used to describe the elimination of non-essential or redundant positions in order to reduce the size of the work force to the smallest possible size it can be without negatively affecting operations. The employees who are not laid off at the end of this process are known as residual employees.

Right of Survivorship
Risk Class

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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