Lump sum payment
- Content Team
- April 1, 2024
Applicant Tracking, Recruitment Marketing, Sourcing and Talent CRM software are powerful alone, but unstoppable when used together!
Lump sum payment refers to a one-time large payment of money given to an employee, usually instead of a series of payments made over time.
Lump sum payment definition
Lump sum payment refers to a one-time large payment of money given to an employee, usually instead of a series of payments made over time.
Lump sum payment has a lower value when provided to pay for an asset or service because the sum total of the funds is being paid upfront.
Benefits and risks of lump-sum payment
The main benefit of a lump-sum payment is that an individual gets a large sum of money upfront and can use it to invest in something of his/her choice. The biggest risk is the possibility of losing the money if invested wrongly.
Applicant Tracking, Recruitment Marketing, Sourcing and Talent CRM software are powerful alone, but unstoppable when used together!