HR TERMS - ALPHABET V

ALPHABET "V"

Vacation Days Policy - Paid vacation days are time off work an organization provides employees as a benefit. The number of paid vacation days is generally accrued by employees based on years of service to the organization.

Variable Pay - Variable pay is used generally to recognize and reward employee contribution toward company productivity, profitability, team work, safety, quality, or some other metric deemed important. Variable pay changes depending upon the circumstances.

Value Add - Your value add is the real contribution you make to your organization’s success. While doing the activities listed in your job description or your job specification is important and makes a contribution, your value add moves beyond activities or actions performed and illuminates, instead, the actual contributions you made to your organization’s success.

Values - Values are traits or qualities that are considered worthwhile; they represent an individual’s highest priorities and deeply held driving forces. Values include qualities such as integrity, resourcefulness, achievement, and honesty.

Value Statements - Value statements are grounded in values and define how people want to behave with each other in the organization. They are statements about how the organization will value customers, suppliers, and the internal community. Value statements describe actions which are the living enactment of the fundamental values held by most individuals within the organization.

Vision - Vision is a statement of what the organization wants to become. It should resonate with all members of the organization and help them feel proud, excited, and part of something much bigger than themselves. A vision should stretch the organization’s capabilities and image of itself. It gives shape and direction to the organization’s future.

Vision Insurance - Vision insurance is a lower cost addition to a comprehensive benefits package for employees that is provided by employers. Vision insurance is often an optional addition to a comprehensive health policy. Vision insurance pays for employees to have regular vision examinations and pays for a percentage of the cost of corrective equipment to treat vision problems including eyeglasses and contacts.