Recruitment glossary

What is a Base wage rate?

Base pay rate is the minimum compensation received by an employee excluding benefits, allowances, incentives and bonuses. Base pay is purely financial and can be expressed as an hourly rate, monthly or annual salary.


Application management
What is Superannuation?

Superannuation is an organisational pension program created by a company for the benefit of its employees.

Application management
What is Six Sigma?

Six Sigma is a set of management techniques intended to improve business processes by greatly reducing the probability that an …

Compliance
What is SMSF (Self Managed Superannuation Fund)?

SMSF (Self Managed Superannuation Fund) is a superannuation trust structure that provides benefits to its members upon retirement.The difference between …

Application management
What is a PSA? Preferred Supplier

A Preferred Supplier Agreement, or PSA, is an agreement entered into by a company and one of their third party …

Application management
What is a Preferred Supplier List (PSL)?

A preferred supplier list (PSL) is a list that companies have of recruiters they prefer to deal with. Only agencies …

Application management
What is Redundancy?

Redundancy occures when an employer reduces their workforce because a job or jobs are no longer needed.

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