APR

APR stands for Annual Percentage Rate. In the context of human resources and employee benefits, APR refers to the annualized interest rate charged for borrowing or earned through an investment, expressed as a percentage. It encompasses not only the interest on the principal amount but also any additional costs or fees involved in the transaction, thus providing a more comprehensive measure of the cost or return. In HR, APR is often relevant when discussing employee loans, credit offered by benefit programs, or the interest rates associated with retirement accounts and other financial products provided to employees. Understanding APR is crucial for employees as it affects their financial decisions and the overall cost of loans or the benefits received from savings and investment plans.