paypolicy
nounUK /ˈpeɪˌpɒlɪsi/
US /ˈpeɪˌpɑːləsi/
A pay policy is a set of rules about how much people get paid for their work.
The company's pay policy says everyone gets a raise after one year.
RELATED WORDS
OTHER MEANINGS
2. A government plan that controls how much money workers earn.
The new pay policy set a minimum wage for all workers.
3. A rule about when and how often employees receive their money.
Under our pay policy, salaries are paid on the last day of each month.
4. A company's official approach to bonuses and overtime pay.
The pay policy explains how overtime is calculated.