Abbott, Langer Association Surveys

Abbott-Langer & Associates Business Glossary

This glossary of business definitions contains over 2,000 business terms used in compensation and benefits administration. Continually updated, this specialized business dictionary focuses on definitions of Human Resources terms and business terms.

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Job

Defined duties person performs for pay.

Job Analysis

A detailed study of the requirements necessary to complete a job, taking into consideration chiefly the order of operation, material and machinery needed, and the necessary qualifications of workers.

Job and Compensation Analyst (JCA)

ERI’s compensation and benefits accreditaton program. A JCA credential is granted only to those compensation specialists who have proven their mastery of analytical and quantitative skills by taking 50 ERI courses within a 12-month period and answering all exam questions with 100% accuracy. This will successfully illustrate mastery of over two dozen different types of mathematical skills and calculations and a thousand compensation and benefit concepts.

Job Descriptions

A written summary describing a particular job classification or position.

Job Documentation

Physical evidence, such as a written contract, which explains the responsibilities, rights, and duties of each party.

Job Duty

Something that you have to do because it is part of your job.

Job Enlargement

The act of increasing in size or volume or quantity or scope.

Job Enrichment

Act of making fuller or more meaningful or rewarding.

Job Entry Requirements / Job Qualifications / Job Requirements

The education, experience, and performance requirements for entry into a job. ERI software only reports salaries of properly qualified and duly licensed practitioners in all occupations. This ERI salary data shows ranges for the very least qualified to the very most qualified job-holders.

Job Evaluation

A systematic analysis of jobs, as opposed to workers, and their function and relative worth in a production process or enterprise.

Job Evaluation Committee

The committee that conducts the job evaluations.

Job Family

Jobs that are affiliated by having the same nature of duties.

Job Grade

Measure of quality or accomplishment.

Job Responsibility

Ability or necessity to answer for or be responsible for one's conduct.

Job Satisfaction

The contentment you feel when you have done something right.

Job Sharing

Two people, typically in career-oriented professional positions, performing the tasks of one full-time position in order to enjoy more flexibility in their personal schedules, typically for child or dependent care. Salary and benefits are prorated.

Job Specifications

A detailed, exact statement of particulars, especially a statement prescribing materials, dimensions, and quality of work.

Job Title

A summary for all the duties for a particular job or position.

Joint And Survivor Annuities

An annuity that pays an income jointly to two individuals. Upon the death of one, the same income continues to the survivor for life. When the survivor dies, payments stop.

Joint And Survivor Option

Provides a continued payment to your spouse in the event you die prior to your spouse's death after you retire.

Joint Credit Life Insurance

Is offered to cover the cost of repaying loan obligations in the event of your death.

Joint Venture

An association formed for a specific purpose and duration between two or more parties to own and/or develop real estate. A joint venture may take a variety of legal forms including partnership, tenancy in common or corporation.

Joint Whole Life Insurance

A life insurance contract that covers two or more lives and provides for the payment of the proceeds at the death of the first insured, at which time the policy automatically terminates, with no remaining coverage for the survivors.

Junk Bonds

Bonds that are initially issued as low-quality securities, often in conjunction with takeovers, leveraged buyouts and restructurings. They offer high interest and high risk. These securities generally lack the characteristics of a desirable investment. The rights of the bondholder are subordinated to senior debt holders. Assurance of interest and principal payments in the future is limited. Repayment often depends on asset sales rather than on the ongoing profitability of the business.

Junk Science

A scientific opinion or testimony that is irrelevant and unreliable.

Juvenile Insurance Policy

An insurance policy that is issued on the life of a child but is owned and paid for by an adult.