HR Glossary

Lump sum payment

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.

what-is-lump-sum-paymentwhat-is-lump-sum-payment

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.

See TalentLyft in action

Applicant Tracking, Recruitment Marketing, Sourcing and Talent CRM software are powerful alone, but unstoppable when used together!

Related content

  • Ageism

    Ageism is a term which describes the process of discrimination that occurs due to a person’s age in the workplace. Definition of AgeismAgeism is a term which...

  • Contract Recruiter

    Contract recruiters are recruiters who work on a contract basis as a consultant to a company.Contract recruiters definition Contract recruiters are recruiters who work on a...

  • Data Breach

    Data breach is an incident where sensitive, protected or confidential data has been taken from a system by an individual unauthorized to do so, without the...

  • Downsizing

    Downsizing, sometimes referred to as layoff, is the process of company's permanent reducing of workforce by terminating the employment of employees.Downsizing definitionDownsizing, sometimes referred to as...

Explore more topics

  • HR Software

    Let HR technology make your work life easier! Streamline your HR processes, from payroll and benefits to talent management and recruitment, with powerful HR software. Save time, reduce manual tasks, and focus on strategic initiatives by working smarter, not harder.

    Learn more

  • Sourcing Candidates

    Master the art of sourcing candidates with strategies that help you find and attract top talent. Learn how to leverage social media, job boards, networking, and recruitment tools to expand your talent pool. Improve your sourcing techniques to identify qualified candidates faster and build a strong, diverse pipeline for your hiring needs.

    Learn more

  • Recruitment Content

    Elevate your hiring efforts with compelling recruitment content. Learn how to create engaging job descriptions, employer branding materials, and targeted social media posts that attract top talent. Effective content helps showcase your company culture, values, and opportunities, making you stand out in the competitive recruitment landscape.

    Learn more

  • Recruitment Process

    You are here to improve and optimize your recruitment process and that is exactly what we'll do for you. Sit back and dive into the best strategies, practices and tips to attract and hire candidates in the most streamlined and efficient way.

    Learn more

  • Talent Acquisition

    Optimize your talent acquisition strategies to attract, engage, and hire the best candidates. Learn how to build a strong talent pipeline, enhance your employer branding, and implement effective recruitment methods. Stay competitive by securing top talent that drives long-term business success.

    Learn more

  • Workplace Diversity

    Promote workplace diversity with strategies that foster an inclusive environment. Learn how to attract and retain diverse talent, create equitable hiring practices, and cultivate a culture of inclusion. Embrace diversity to drive innovation, enhance collaboration, and strengthen your organization’s overall success.

    Learn more

Simple and affordable recruitment software

Schedule a Demo Start Free Trial