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Business, Management, Human Resources Dictionary: M

Find business, management and human resources terminology - the terms that begin with M in the glossary.

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Managing Human Resources
Managing human resources refers to the functions that a manager performs relative to the organization's employees. Managing human resources includes, but is not limited to these functions. Learn more about managing human resources.
Medicare Tax
The medicare tax is a payroll tax that must be withheld from an employee's paycheck by an employer. The medicare tax is one part of the employer's obligation to withhold FICA taxes which also include social security taxes. Employers pay a matching percentage of FICA taxes. Self-employed individuals pay the whole amount of medicare and social security taxes. Find out more about medicare taxes.
Mileage Reimbursement: IRS
The IRS mileage reimbursement rate is an optional rate, recommended by the Internal Revenue Service in the U.S., that is used to calculate the deductible costs of operating an automobile for business, medical, charitable, or moving purposes. The IRS mileage reimbursement rate is adjusted depending on the IRS-determined cost of operating a motor vehicle.
Millennials
The millennials joining your workforce now were born between 1980 and 2000. Unlike the Gen-Xers and the Boomers, the Millennials have developed work characteristics and tendencies from doting parents, structured lives, and contact with diverse people. Learn more about millennials.
Minimum Wage
The federal minimum wage for covered nonexempt employees is $5.15 an hour. The federal minimum wage provisions are contained in the Fair Labor Standards Act (FLSA). Many states also have minimum wage laws.
Mission
A mission is what an organization does.
Mission Statement
Mission or Purpose is a precise description of what an organization does. It should describe the business the organization is in. It is a definition of “why” the organization exists currently.
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