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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Gain Sharing

The sharing of cost savings and/or other non-monetary benefits between a client and the service provider. Usually tied to stated savings objectives or other goals. Gain Sharing is a feature of some managed services contracts.

General Employer

A US legal term usually referring to the staffing company employer, in a co-employer or joint employer relationship, that is maintaining the employee on a payroll. While not common, confusingly, the term may sometimes be used in a European context but could refer to other types of employment relationships. (See also: Special Employer.)

Gig Work/Gig Economy

The gig economy is one of several names used to describe various forms of “gig” work, or small project freelance work. Others include “on demand economy,” “collaborative consumption” and “sharing economy.” Definitions of the gig economy vary widely among commentators. The more narrow definition would include work structured as small projects of a relatively limited duration typically facilitated by an internet platform or app (i.e. freelancing as intermediated by vendors operating in the so-called “human cloud”). Staffing Industry Analysts’ definition is broader than this in that it includes any contingent work of a fixed duration such as temporary workers (sourced directly or through a staffing agency) and independent contractors. We see no reason to limit the concept of a “gig” solely to transactions mediated online. SIA treats the gig economy as synonymous with contingent work and, as such, these workers are sourced and managed through a number of different segments within the Workforce Solutions Ecosystem. Some commentators would also include online services such as Airbnb and Zipcar as part of the gig economy. As these services are not labor-related, SIA regards these services as part of the sharing economy, but not part of the gig economy.

Gross Margin

The difference between the bill rate for the temporary services and the direct costs of employment (pay rate plus burden and/or mandatory benefits. In the United States, burden will include workers’ compensation, unemployment insurance, employer’s share of FICA and state or local taxes for each temporary employee on assignment. In Europe, mandatory benefits vary per market but will generally include employment tax and social insurances. Staffing company gross margins vary per country and per staffing category depending on the perceived value-add of the service provided, which can be affected by issues as varied as unit labor cost, social acceptance, competition and idle-time management. Expressed as a percentage, this term is often incorrectly confused with markup, whereas gross margin is a percentage of the hourly bill rate before Value Added Tax, and markup is a percentage of the temporary worker’s hourly gross wage. (See also: Markup.)

Group Purchasing Organization (GPO)

An entity that is created to leverage the purchasing power of a group of businesses to obtain discounts from vendors based on their collective buying power. Many GPOs are funded by administrative fees that are paid by those vendors that the respective GPO oversees. Some GPOs are funded by fees paid by the buying members. Still other GPOs are funded by a combination of both of these methods. These fees can be set as a percentage of the purchase or set as an annual flat rate. Some GPOs set mandatory participation levels for their members, while others are completely voluntary. Members participate based on their purchasing needs and their level of confidence in what should be competitive pricing negotiated by their GPOs. Group purchasing is used in many industries and countries to purchase raw materials and supplies, but it is common practice in the grocery industry, healthcare, electronics, industrial manufacturing and agricultural industries. GPOs are also known as Group Buying Networks (GPN).
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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