Key Terminology and Definitions
- An acquisition is a corporate action in which a company buys most, if not all, of the target company's ownership stakes in order to assume control of the target firm.
- Administering Agency
- Administering agency refers to any department, agency and establishment in the executive branch of the government, including any wholly-owned government corporation, which administers a program involving federally-assisted construction
- Administrative Services Organization (ASO)
- An administrative services organization provides outsourced solutions to meet the administrative and HR needs of the client with the client retaining all employment-related risks and liabilities.
- Asset Acquisition
- An asset acquisition is a buyout strategy in which key assets of the target company are purchased, rather than its shares. The purchasing company identifies which assets and liabilities it wants to purchase, avoiding unwanted assets and
liabilities for which it does not want to assume responsibility.
- Certification is the final stage in the EEO-1 application process by which an authorized official confirms the reported company information.
- Consolidated Report
- Consolidated Report includes all employees within the company, regardless of location.
- Contract refers to any government contract or any federally-assisted construction contract.
- Contracting Agency
- Contracting Agency means any department, agency and establishment in the executive branch of the government, including any wholly-owned government corporation, which enters into contracts.
- Dun & Bradstreet Number (DUNS)
- The DUNS Number is a unique nine-digit identifier for businesses used to establish a business credit file, which is often referenced by lenders and potential business partners to help predict the reliability and/or financial stability of the
company in question. D-U-N-S, which stands for data universal number system, is used to maintain accurate and timely information on +250 M global businesses.
- Employee means any individual on the payroll of an employer who is an employee for purposes of the employers withholding of Social Security taxes except insurance sales agents who are considered to be employees for such purposes solely because
of the provisions of 26 USC 3121 (d) (3) (B) (the Internal Revenue Code). Leased employees are included in this definition and refer to a permanent employee provided by an employment agency for a fee to an outside company for which the employment
agency handles all personnel tasks including payroll, staffing, benefit payments and compliance reporting.
- Employer Identification Number (EIN/FEIN)
- An employer identification number (EIN) is a nine-digit number assigned by the IRS. It is used to identify the tax accounts of employers and certain others who have no employees. The IRS uses the number to identify taxpayers who are required to
file various business tax returns. EINs are used by employers, sole proprietors, corporations, partnerships, non-profit associations, trusts, estates of decedents, government agencies, certain individuals, and other business entities.
- Employment Data
- Employment data refers to gender, race or ethnicity information by job category for all full-time and part-time employees who were employed during the selected payroll period.
- Establishment is an economic unit which produces goods or services, such as a factory, office, store, or mine. In most instances, the establishment is at a single physical location and is engaged in one, or predominantly one, type of economic
- First-tier Subcontractor
- A subcontractor holding a subcontract with a prime contractor for the purpose of acquiring supplies or services (including construction) for performance of a prime government contract.
- Headquarters Report
- The Headquarters report is an EEO-1 report that includes only those employees working at the main office site of a company.
- Joint Reporting Committee (JRC)
- Joint Reporting Committee is the committee representing the EEOC and OFCCP for the purpose of administering the EEO-1 reporting system.
- Major Activity
- Major activity is defined as the major product or group of products produced or handled, or services rendered by the reporting unit (e.g., manufacturing airplane parts, retail sales of office furniture) in terms of the activity at which the
greatest number of all employees work. The description includes the type of product manufactured or sold or the type of service provided.
- A merger is a legal consolidation of two entities to form a new entity.
- Multi-Establishment Employer
- Multi-establishment employers conduct business at two or more physical addresses.
- North American Industry Classification System (NAICS)
- The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S.
- Parent Corporation
- Parent corporation refers to any corporation which owns all or the majority stock of another company so that the latter stands in the relation to it of a subsidiary.
- Prime Contractor
- Prime Contractor means any employer having a government contract or any federally-assisted construction contract, or any employer serving as a depository of federal government funds.
- Professional Employer Organization (PEO)
- A professional employer organization is a firm that provides a service under which an employer can outsource employee management tasks, such as employee benefits, payroll and workers' compensation, recruiting, risk/safety management, training
- Office of Federal Contract Compliance Programs (OFCCP)
- OFCCP is an agency within the U.S. Department of Labor which conducts compliance evaluations to determine whether federal contractors are complying with its obligation to maintain nondiscriminatory employment practices. OFCCP enforces Executive Order 11246, Section 503 of the Rehabilitation Act of 1973 and the Vietnam Era Veterans' Readjustment Assistance Act of 1974. These laws, as amended, make it illegal for contractors and subcontractors doing business with the federal government to
discriminate in employment because of race, color, religion, sex, sexual orientation, gender identity, national origin, disability or status as a protected veteran.
- Self - identification is the preferred method by which the employee of a company identifies his or her race and ethnicity necessary for the EEO-1 report.
- Single-Establishment Employer
- A company with a single operational location where company functions are coordinated and employees report to work.
- A type of divesture, a spin-off is the creation of an independent company through the sale or distribution of new shares of an existing business or division of a parent company.
- Subcontractor means any employer having a contract with a prime contractor or another subcontractor calling for supplies or services required for the performance of a government contract or federally assisted construction contract.