L
Limited Purpose FSA
Last Updated: July 11, 2025A Limited Purpose FSA is a tax-advantaged account for employees with high-deductible health plans, restricted to dental and vision expenses, complementing an HSA.
Levy
Last Updated: July 11, 2025A Levy in HR context refers to a legal seizure of an employee’s wages by a government or creditor to satisfy a debt, such as unpaid taxes, enforced through garnishment.
Letter of Termination
Last Updated: July 11, 2025A Letter of Termination is a formal document from an employer notifying an employee of the end of their employment, detailing reasons, effective date, and final payments.
Leave Policy
Last Updated: July 11, 2025A Leave Policy is a formal document outlining an organization’s rules for requesting, approving, and managing various types of employee leave, ensuring consistency.
Leave Encashment
Last Updated: July 11, 2025Leave Encashment is the process where employees receive payment for unused accrued leave, either during employment or upon resignation/retirement, depending on company policy.
Leave Accrual Processing
Last Updated: July 11, 2025Leave Accrual Processing is the system of calculating and tracking the accumulation of paid leave (e.g., vacation or sick days) based on hours worked or service length.
Learning Management System (LMS)
Last Updated: July 11, 2025A Learning Management System (LMS) is a software platform used to deliver, track, and manage employee training and educational courses, often online.
Learning and Development (L&D)
Last Updated: July 11, 2025Learning and Development (L&D) is a strategic HR function focused on improving employee skills and knowledge through training, workshops, and career development opportunities.
Leadership Development
Last Updated: July 11, 2025Leadership Development is a structured process to enhance the skills, behaviors, and mindset of current or potential leaders through training, mentoring, and experience.
Lazy Girl Job
Last Updated: July 11, 2025A Lazy Girl Job is an informal term for a low-stress, flexible role with good pay and minimal demands, often sought by individuals prioritizing work-life balance, popularized on social media.
Layoff
Last Updated: July 11, 2025A Layoff is a temporary or permanent termination of employment due to business reasons, such as economic downturns or restructuring, not due to employee performance.
Lateral Hiring
Last Updated: July 11, 2025Lateral Hiring is the recruitment of employees from outside the organization at the same or similar level, often to bring in new skills or perspectives without promotion.
Labor Market
Last Updated: July 11, 2025The Labor Market is the supply and demand for labor, where employers seek workers and individuals offer skills, influenced by wages, education, and economic conditions.
Labor Force
Last Updated: July 11, 2025The Labor Force consists of individuals who are employed or actively seeking employment within a specific region or economy, typically measured by government statistics.