Work-Life Balance

Compensatory Time
Compensatory time, often referred to as comp time, is time off that an employee is allowed to take in lieu of overtime pay.
Flexitime (Flextime)
Flexitime (also known as flextime) is a daily work system where employees have the flexibility to choose their starting and ending times within agreed limits, while ensuring they fulfill a minimum number of required work hours.
Job Sharing
Job sharing is an employment arrangement where two or more individuals split the responsibilities, hours, and benefits of a full-time job. It's designed to offer flexibility in work schedules and contributes to work-life balance for employees.
Leave of Absence
A leave of absence refers to a formally approved period during which an employee is permitted to take time off work without losing their job seniority or associated perks. It is often granted for specific purposes such as education, research, maternity/paternity leave, or personal health.
Moonlighting
Moonlighting refers to the practice of employees taking on a second job, often at night, in addition to their primary employment to increase their income.
Quality of Work Life
Quality of Work Life (QWL) is a concept that refers to the level of satisfaction, motivation, fulfillment, and well-being employees experience in their work environment. It addresses a variety of aspects in the workplace, including job satisfaction, work-life balance, relationships with colleagues, and work conditions.
Workweek
A workweek refers to the standard number of days and hours that employees are scheduled to work within a week in an organization. It varies across different organizations depending on their operational requirements.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.