What is Pareto Principle?

The ‘Pareto Principle states that in most events, 20% of the causes lead to 80% of the effects. This ratio is also referred to as the ‘80/20 Rule’. It is also called the ‘Principle of Factor Sparsity’ as well as the ‘Law of the Viral Few’.

It is used in companies to concentrate their efforts on the most profitable 20% areas of the company and advance them so that it leads to a profit for the remaining 80% of the company too.

Similarly, it is also applied in reducing the risks of 20% of the most hazardous areas of the company so that the remaining 80% is also safeguarded as a result of the precautions taken.

On Roll and Off Roll Payroll

Since an employee joins an organization, the payroll starts to count. Though the payroll models are created based on numerous employee job responsibilities, the term

Partial Payments

What is Partial Payments? Partial Payments are a type of payment mode where organisations pay only a part of the total amount instead of paying

Pareto Principle