Here is list of Human Resource terms or HR glossary. It is a one stop solution to learn HR terms as it includes all the essential and updated terms used by HRs for businesses. Myhrpolicy provides the best HR policies for SMEs and Startups. This comprehensive glossary of human resource (HR) terms defines words and phrases frequently used by HR professionals
HR
Terms
-A
Absconding
When an
employee does not report to the work for consecutive days without informing his
managers or colleagues or
employer about his status or reason of absence, this situation is known as
Absconding in HR.
Absolute
Ratings
In absolute
rating method, rater assigns specific value on a fixed scale to the behavior or
performance of an individual instead of assigning ratings based on comparison.
Absenteeism
Policy
Absenteeism
policy is related to employee attendance policy and procedure at work. Any
workplace policy that outlines paid time off, vacation and holidays, sick leave
and other leaves is considered as absenteeism policy. It also includes guidelines
for procedures and disciplinary actions if an employee misses to come at work
for many days beyond the allowed days. The best policy will encourage employees
to reduce absent days because missed days cut down on employee productivity.
Also, a good absenteeism policy is financially beneficial for organizations.
Agile HR
It refers
to the way of working and organizing HR functions which facilitates
responsiveness and adaptiveness of structures, activities and flexibility in
matching workforce demand and fluctuations. The focus is shifted from
traditional control and alignment to a more agile focus on speed of
responsiveness and
customers.
Applicant
Tracking System (ATS)
It is a
system or type of software which helps to streamline recruitment process from
applications to hiring candidate.
Appraisal
It is a
formal process and opportunity to analyze your performance at work, it offers
you a chance to talk to your employer about your career plans. Appraisals are
used to evaluate increase in pay and bonuses. A process in which employers
access the employees’ performance and provide pay increase, incentives, bonuses
etc.
Appraisal
Letter
It is a
written document provided by HR department to particular employees to praise
them for their performance during the calendar year. Appraisal letters are
given to the employees to encourage them for their work and motivate to perform
even better.
Apprenticeship
It is a training program for individuals to become recognized in a specific function or department. The person who undergoes the apprenticeship is known as an apprentice. This individual learns the necessary skills for a specific duration of time by carrying out common tasks. Training is administered by seasoned and authorized person.
Assessment
Centers
Mainly used
for management selection and development purposes. An assessment center has
often defined as a variety of testing techniques designed to allow candidates
to demonstrate under standardized conditions, the skills and abilities that are
most essential foe success in a given job. The assessment center process
generally consists of a number of performance related exercises that resemble
actual work situations and activities to which a candidate should react.
Attendance
Policy
Attendance
policy is a set of rules related to the attendance of employees. The policy
includes the time to report at work, allowed time of break, everyday working
hour. It also specifies the rules related to how an employee is eligible for
the leaves how he applies for the leaves.
Attrition
This term
attrition refers to a gradual reduction in staff numbers. It describes
voluntary and involuntary terminations, deaths and employee retirements that
result in a reduction to the employer’s physical workforce.
Agility
Agility is
defined as the ability to move quickly and easily. However, in the context of
HR, it is the ability to adapt and evolve people and processes in pace to
accelerating and unpredictable changes to support individual, strategic and organizational
agility.
-B
Background Check
It is a
process by which a person or company verifies that a person is who they claim
to be and provides an opportunity for someone to check person’s criminal record,
employments history, education and other activities that happened in the past
in order to confirm validity.
Background
Verification
This
process is carried out to verify information provided by the candidate while
hiring. It involves various checks in which the employer will go through your
education records, address checks, resume checks and identity checks. It is
carried out once the candidates clear all the interview rounds.
Balanced
Scorecard
The
Balanced Scorecard, referred to as BSC, is a framework to implement and manage
strategy. It helps to link a vision to strategic objectives, measures, targets
and initiatives. It balances financial measures with performance measures and
objectives related to all other parts of the organization. It is a tool for business
performance management.
Basic
Salary
It is an amount of money that employees receive before any deductions and extras to be added. Basic salary is fully taxable. It excludes bonus, overtime or any other compensation.
Behavioral
Competency
Behavioral
Competency is an evaluation of the character traits of an employee. These
competencies can be fundamentally around people skills, managerial skills and
achievement skills. Certain positions work better for certain behavioral
competencies. It helps to identify if a candidate will be successful at the
position he applied for.
Behaviorally
Anchored Rating Scale
BARS is an
appraisal system that requires raters list important dimensions of a particular
job and collect information regarding the critical behaviors between successful
and unsuccessful Performance. The critical behaviors are categorized and given
a numerical value to be used as basis for rating.
Benchmarking
It is a
process of comparing similar characteristics between businesses, identifying
most successful practices and integrating into company procedure. Benchmarking
is a process of measuring the performance of an organization through a variety
of metrics.
Bonus
Bonus is a
financial compensation beyond the normal payment expectations of its recipient.
Sometimes, all employees in a company receive extra money at a certain time of
the year.
Business
Process Outsourcing
It is a
method of subcontracting business-related operations to third-party vendors.
Nowadays BPO applies to the outsourcing of services, as well. Companies only
outsource non-core activities and do not part with their core competencies.
-C
Career
Break
A career
break is a time off from employment, the reason can be anything personal,
professional or family. Career breaks can be between one month to two years,
sometime people take short breaks for a month or so to try out something new
and if they enjoy them before committing a longer period of time.
Career
Path
An
individual works on the path toward their career goals, it comprises of jobs
that he does during the career. Career path generally implies vertical growth
to higher-level positions, but it can also include lateral movements within the
industry.
Change
Management
Change management is a structured approach to transitioning individuals or organizations from the one state to the desired state. Companies think ahead to stay ahead in the market. Starting form introduction to implementation companies manage the consequences of major organizational change.
Churn
Rate
It is a
rate at which customers stop doing business with any entity. It is also known
as attrition or customer churn. It is calculated as percentage of subscribers
who discontinue their subscriptions within a specified time period. It is also
a rate at which employees leave jobs within specific period.
Formula:
Customer
Churn Rate: (Customers Lost/Customers Acquired) * 100
Coaching
Coaching is
a process that aims to improve performance. It unlocks a person’s potential to
maximize their own potential. The coach
advises the person on how to tackle and perform a particular task. Then
provides constructive feedback and delegates further similar tasks for the
individual to complete.
Compensation
and Benefits
Compensation
and benefits refer to the salary/compensation and monetary and non-monetary
benefits offered to employees. Compensation and benefits are an important
aspect to keep the workforce motivated. It gives benefit based on performance
to bring best out of employees.
Compensatory
Off
When an
employee works on a holiday or weekend or extra hours on employer’s request
after that, he or she is entitled for leave on any working day, it is called
compensatory off. This leave is provided as a reward to an employee for working
overtime to fulfill organization’s need.
Competency
Competency
is the ability to do something efficiently or successfully. It is a set of
characteristics and skills that improve performance of a job. Skills can be
learned, while competencies are inherent. Basically, there are three categories
of competencies: Behavioral, Technical and Leadership.
Competency-based
Pay
Competency
based pay is a pay structure which compensates employees based on the depth,
breath and types of skills they obtain and experience rather than position or
job title. It is known as Skill based pay.
Confidentiality
Agreement
It is a
legal document entered between two parties (can be employer and employee) that
prevents the release of information, transaction details, branded or patented
information. Many organizations have protected information which can be
devastating for brand if leaked. Confidentiality agreement serves as a legal
protection for them.
Confirmation
Letter
Confirmation letter is a formal document that verifies employment. It is handed over to the employee confirming his employment in the organization. It should be congratulating, short and crisp.
Cover
Letter
A cover
letter is a one-page document which a person submits as a part of job
application along with the CV. The purpose of cover letter is to introduce
yourself and briefly share your professional background.
CTC
(Cost to Company)
Cost to Company
refers to the yearly expenditure a company does for an employee. Spend on each
employee depends on their salary and variable. It calculates salary plus all
benefits employee receives like house allowance, PF, Gratuity, medical
insurance etc. Employees do not directly receive CTC amount in cash.
Cost-per-hire
Cost per
hire is the most used hiring and recruiting metric. It is cost linked to
recruiting talent and total cost of bringing new employee to the company.
Cross-functional
Team
A
cross-functional team is a group of people with different skill set brought
together to achieve shared goals. Group members belong to different functional
areas of the company like marketing, sales, product etc.
-D
Deferred
Compensation
A
compensation plan that allows employees to defer compensation earned in one
year to a future tax year. These are the parts of compensation employees may
choose to defer. It is not considered as taxable income until they receive it.
Delayering
Delayering is
a process which involves removing a layer of management within hierarchical structures.
It helps to boost operational efficiency and remove red tape.
Disciplinary
Procedure
A
disciplinary action is standardized step-by-step procedure that an organization
does in situation where an employee has to be warned, dismissed or reprimanded.
Any organization must have standard and fair policy otherwise it can face
discrimination or other legal charges.
Downshifting
In
workplace, downshifting is an attempt to find a more appropriate work-life
balance to improve personal relations and reduce stress. It is a social
behavior where an individual reduces the responsibility and complexity in their
lives.
-E
E-Recruitment
E-recruitment or online recruitment, refers to the use of web-based technology for the various processes of attracting, assessing, selecting and onboarding job candidates. Through e-recruitment employers reach larger number of potential employees.
Employee
Assessments
It is a performance
appraisal or review test used to evaluate employee’s performance and
productivity. These tests assess, personality,
aptitude and skills. Employee assessments are carried out to review compensation,
performance and to promote or terminate etc. HR department conducts employee
assessment to improve performance and monitor what the employee does and what
they are expected to do.
Employee
Benefit Administration
Employee
benefits are also known as perks or fringe benefits. It is provided to
employees over and above salary. These benefits may include profit sharing,
retirement benefits, vacation, medical insurance. The purpose of employee
benefits is to provide security to staff members and improve worker retention.
Employee
Clearance/F&F
Employee
clearance or Full and Final settlement happens when an employee resigns or
retires from the job. Clearance or no due have to be obtained from different
departments like finance, HR and Admin, it can be for EPF, Gratuity, loan etc.
from the company’s side. Also, if employee is using company’s asset like
laptop, mobile then it is required to give it back to the concerned authority.
Employee
Database
It is a
database which contains employee’s personal information and company information
like pay scale, joining date, remarks etc. The database contains critical
information and fields like name, age, salary, position etc. for an HR to
refer.
Employee
Empowerment
Organizations
provide their employees a certain degree of autonomy and control in their day-to-day
tasks. It can be having their views in process improvement, to create and
manage new system etc. A key to this is to provide employees the means of
making decisions. When this initiative deployed properly, this will result in
higher productivity and better quality of employees.
Employee
Engagement
Employee
Engagement is a workplace method to improve employee’s feelings and emotional
attachment to their work, colleagues and company. HR departments can use
employee engagement tactics to boost well-being and productivity across all
company levels.
Employee
Lifecycle
Every
employee goes through a series of stages from the day they apply for a job
right through a day they leave. These stages sum up the employee lifecycle.
Each stage has its challenges, it is important for HR to continuously improve
their process for each stage to better the success of employees.
Employee
Net Promoter Score
Employer
Net Promoter Score is a scoring system designed to help employers measure
employee satisfaction and loyalty within their organization. The employees are
asked how likely they are to recommend the company as a place to work, an
effective eNPS ensures employee anonymity. They are supposed to give rating on
a scale 1 to 10.
1. Promoter- An employee who scores 9
or 10
2. Neutrals- An employee who scores 7
or 8
3. Distractors- An employee who score anywhere from 0 to 6
Employee
Onboarding
It is a
process of onboarding new hires into an organization. It includes filling out
forms, on the job training and culture training so that new hires can be
effective and contributing team members. Effective onboarding can extend weeks
or months beyond the first day.
Employee
Orientation
It is
process of introducing new hires to their jobs, co-workers, responsibilities
and workplace. It helps employee to feel comfortable within new department,
role and teams. Effective employee orientation answers query of new hires, it
makes them aware of company policies and expectations.
Employee
Referral Program
Employee
referral program is a recruiting strategy in which employers encourage current
employees through rewards to refer qualified candidates. This program is
designed to give all employees an equal opportunity to approach their
candidates. This is one of the important sources of recruitment.
Employee
Relations
It refers
to an organization’s efforts to create and maintain a positive relation with
employees. By maintaining positive, constructive employee relations,
organizations hope to keep employees loyal and more engaged in their work.
Employee
Retention
Employee
retention refers to organization’s ability to retain its employees. It includes
various strategies and practices an organization does to prevent employee
turnover. Employee retention takes into account various measures taken so that
an individual stays in an organization for the maximum period of time.
Employee
Satisfaction
Employee
satisfaction means the extent to which an individual is happy for their job and
role it plays in life. In the short term it is directly linked to attrition,
while in long term if employee continue to work with a company even if he is
not satisfied it will be more damaging.
Employee
Turnover
Employee
turnover is the term applied to cycle of hiring and firing that happens within
an organization. While an organization usually measures the total number of
employees who leave, turnover can also apply to subcategories within an
organization like individual departments or demographic groups.
Employment
History
It includes
a record of all the previous jobs of an applicant. It includes information like
the organization they worked for along with the details about that job, such as
the length of employment and the job description.
Employer
Branding
Employer
branding is a term referred to describe company’s reputation and popularity from
a potential employer’s perspective and describes the values company gives to
its employees. Employer branding is the process of which creates and maintains
organization’s brand.
Employer
Value Proposition
Employee Value
Proposition (EVP) as a set of associations and offerings provided by an
organization in return for the skills, capabilities and experiences an employee
brings to the organization.
The EVP is an employee-centred approach that is
aligned to existing, integrated workforce planning strategies because it has
been informed by existing employees and the external target audience. An EVP
must be unique, relevant and compelling if it is to act as a key driver of
talent attraction, engagement and retention.
Enterprise
Resource Planning (ERP)
Enterprise
Resource Planning (ERP) is a powerful HR software that allows leaders to
manage, manipulate and analyse key business information and metrics, from all
business units including sales, marketing, manufacturing, finance, accounting,
customer relationship management and PR, in one integrated package. A central,
powerful database will often be used to store information.
Equity
Theory
Equity theory is
a theory of motivation that suggests that employee motivation at work is
driven largely by their sense of fairness. In other words, an employee gets
de-motivated by the job and his employer in case his inputs are more than the
outputs.
Exit
Interview
Exit
interview is conducted with an employee when he leaves the organization. It is a kind of survey and the
information from each survey is used to provide feedback on why employees are
leaving, what they liked about their employment and what areas of the company
need improvement. Exit interviews are most effective when the data is compiled
and tracked over time.
Expatriate
An expatriate,
or ex-pat are the employee who are sent to work abroad on a long-term job
assignment such as employees who need set up a new office or senior managers
who need to manage or set up a new branch. Expatriate employees generally
receive additional benefits, such as cost of living and hardship allowances as
well as housing or education and sometimes even paid education for their
children.
-F
Factor
Comparison
Factor comparison is systematic and scientific method designed to carry out job evaluation which instead of ranking job as a whole, ranks according to a series of factors. The aim of factor comparison is to assign financial value to the relative parts of each job role.
Five
Factor Model
Five Factor
Model is a theory based upon the Big Five personality traits, identified as
openness to new experiences, conscientiousness, extra version, agreeableness,
and neuroticism. These traits represent stable individual differences (an
individual may be high or low on a trait as compared to others) in the thoughts
people have, the feelings they experience, and their behaviours. Each trait can
be broken down into sub-traits, allowing minor variations in personalities to
be standardized and tracked.
Floating
Holidays
Floating
holidays are paid vacation days those employees can schedule themselves. They
are mostly used by employees who celebrate cultural or religious holidays not
included in the set of ten federally recognized paid holidays. Floating
holidays allow for flexibility, promote healthy work-life balance, and boost
company morale
Forced
Ranking
Forced ranking
is a controversial workforce management tool that uses intense yearly
evaluations to identify a company's best and worst performing employees, using
person-to-person comparisons. In theory, each ranking will improve the quality
of the workforce. In forced ranking process employees are divided into three groups:
A, B or C.
Functional Job Analysis
Functional job analysis is a method of job analysis that was developed by the Employment and Training Administration of the United States Department of Labour. FJA breaks down job roles into seven areas: things, data, worker instructions, reasoning, people, maths and language. Analysis of worker actions within these areas plays a key part of the Functional Job Analysis process.
Better understanding of the employee and the role are positive benefits of FJA, but it can be harder to standardise the analysis across an organisation due to the emphasis on qualitative rather than quantitative
-G
Gamification
The meaning of gamification is the process of
adding games or game like elements to something such as systems, processes or
other employment related elements to encourage and engage employees.
Gender
Divide
The gender
divide, or gender gap, describes the disparity between different genders
in society, and in turn the labour market and business world, including
inequality of opportunity, pay, progression, and benefits. It is used in a
range of fields including sociology, politics and economics. Within the HR
function.
Generation
X
A demographic cohort born after the post-war baby boomers – commentators tend to use beginning birth dates from the early 1960s to the early 1980s. Generation X is followed by Generation Y, who were born from around 1985 until the early 1990s
Generation
Z
A
demographic cohort containing individuals born between the early 2000s and the
present day – they follow the Millennial Generation. Less attention has been
focused on Generation Z than Generation Y, notably because they haven’t yet
entered adulthood and the workforce, but they are often characterised as being
highly computer – literate and natural internet users.
GIG
Economy
A gig
economy comprises of freelancers and independent contractors instead of
full-time employees and permanent jobs. In gig market temporary and flexible
jobs are common.
Golden
Handcuffs
Golden
handcuffs are a collection of financial incentives that are intended
to encourage employees to remain with a company for a stipulated period of time.
It includes financial and non-financial benefits.
Gratuity
Gratuity is given by the
employer to his/her employee for the services rendered by him during the period
of employment. It is usually paid at the time of retirement but can be paid
earlier, provided certain conditions are met. A person is eligible to receive
gratuity only if he has completed a minimum of five years of service
with an organisation. However, it can be paid before the completion of five
years in case of the death of an employee or if he has become disabled due to
an accident or disease
Grey
Collar
Grey collar
refers to the balance of employed people not classified as white or blue
collar. It is a
worker in an occupation that incorporates some of the elements of both blue-
and white-collar jobs. Few examples of grey collar jobs are health care, aged
care, child care, food preparation and the catering industry and the like.
Green
Collar
It denotes
or relates to employment concerned with products and services designed to
improve the quality of the environment. With concerns about the environment
at an all-time high, green-collar jobs have become the hot new
employment sector.
Grievance
Grievance refers to the
employee's dissatisfaction with company's work policy and conditions because of
an alleged violation of law. They may or may not be justified and usually
represent the gap between what the employee expects and gets from the company. Grievance
has to be properly addressed because it lowers the motivation and performance
of the employee and affects the work environment.
Gross
misconduct
Gross
misconduct refers to an employee's negative behavior or action so serious that
it calls for the employee's summary dismissal without the usual contractual
obligations of a notice period. Often mistaken, summary dismissal does not mean
immediate dismissal. It requires employers to follow certain dismissal
procedures even if the employee was caught in action. The best practice is the
suspension of the employee so that investigation can take place.
Gross
Salary
Gross salary
is the amount of money paid to an employee before taxes and deductions are
discounted. It is the gross monthly or annual sum earned by the employee. The
gross salary doesn’t take into account deductions or taxes that are taken out
after the payment is issued, because it is the pre-negotiated amount of money
stipulated at the job contract. Later on, the gross salary will be reduced by
these deductions, to comply with federal or state laws or also, to pay for any
other financial commitments taken by the employee that are directly taken off
its gross income.
-H
Hawthorne
Effect
The
Hawthorne effect is a phenomenon observed as a result of an experiment
conducted by Elton Mayo. In an experiment intended to measure how a work
environment impacts worker productivity, Mayo’s researchers noted that workers
productivity increased not from changes in environment, but when being watched.
Applied to HR, the concept is that employee motivation can be influenced by how
aware they are of being observed and judged on their work - a basis for regular
evaluation and metrics to meet.
Hierarchy
of Needs
A theory
proposed by American psychologist Abraham Maslow that categorises human desires
by the force and necessity of the desire. It is most frequently arranged as a
pyramid, with the most important needs at the bottom.
HR Audit
A Human
Resources Audit is a comprehensive method (or means) to review current human
resources policies, procedures, documentation, and systems. This thorough
review helps to identify needs for improvement and enhancement of the HR
function. In addition, it helps to assess compliance with ever-changing rules
and regulations. An Audit involves systematically reviewing all aspects of
human resources, usually in a checklist. HR Audit is conducted to identify
the lapses, shortcomings, gaps in the implementation of HR functions and
suggesting the remedial actions.
HR
Business Partner
HR Business
Partner are HR professionals who work closely with an organisation’s senior
leaders in order to develop an HR strategy that closely supports the overall
aims of the organisation. The process of alignment is known as HR business
partnering and may involve the HR business partner sitting on the board of
directors or working closely with the board of directors and C-suite.
HR Consulting
Specialist advice and services provided by a third-party to help businesses maximise the efficiency of their HR operations and implement appropriate new policies and procedures in the best way possible. They are often valued by companies for their ability to bring an outsider’s objective view.
HR
Generalist
A Human
Resources (HR) Generalist is a professional who oversees the human resources
responsibilities and activities of an organisation. They manage
recruitment processes, employee relations, regulatory compliance, and training
and development.
HR
Software
It is a
software packages designed to automate many of the common HR tasks and free up
resources to be spent elsewhere. Packages often involve a high degree of data
processing which is time-consuming when performed manually. Increasingly
incorporating analytics functionality that allows HR to more easily perform
higher-level tasks such as sifting through applicants, conducting performance
reviews and tracking training needs.
Human Capital
Management
Human
capital management (HCM) is the act of systematically recruiting, managing and
developing a workforce. An HCM mindset views employees as company assets to be
invested in so that their organizational value can be maximized. The important
responsibility of HCM often falls on a company's human resources department, as
they generally play a crucial role in who's hired, how efficiently talent is
managed, and how seriously employee development is taken.
Human
Resource Analytics
Human Resources
Analytics (HR Analytics) is a field of analytics that refers to implementing an
analytics process in an organisation's human resources department in the hope
of improving employee performance and return on investment. HR Analytics does
more than just collect data about employee efficiency. Instead, its purpose is
to provide an understanding of each process by collecting data and making
relevant decisions about how to use it to improve these processes.
Human
Resource Information System (HRIS)
Human Resource
Information System is a software that is used for carrying out HR processes
such as data tracking, self-service for employees, analysing data for better
understanding and training for employee improvement, and managing benefits and
compensations.
Human
Resource Management
Human
resource management is the organizational function that manages all issues
related to the people in an organization. That includes but is not limited to
compensation, recruitment and hiring, performance management, organization
development, safety, wellness, benefits, employee motivation, communication,
policy administration and training.
Human
Resource Management System
Human Resource Management System (HRMS) refers to a suite of software that organizations use to manage internal HR functions. From employee data management to payroll, recruitment, benefits, training, talent management, employee engagement, and employee attendance, HRMS software helps HR professionals manage the modern workforce. Also called a Human Resource Information System (HRIS), HRMS systems put information about a company’s most valuable assets in front of the people who need them. Yesterday’s HR software and HRIS systems have become today’s Human Capital Management Cloud Service.
Human
Resource Outsourcing
HR outsourcing is a contractual agreement between an employer and
an external third-party provider whereby the employer transfers the management
of, and responsibility for, certain HR functions to the external
provider.
-I
Incentive
Pay
Incentive
pay is financial reward for performance rather than pay for the
number of hours worked. A cash bonus toward the end of the
year for the holidays is a common form of this benefit, and some employees are capable of earning a
commission by making sales, which would also fall under incentive pay.
Employers can also reward workers for superior performance by offering casual
incentives.
Induction
Induction
means introduction of a new employee to the job and the organization. It
is the process of receiving and welcoming an employee when he first joins a
company and giving him the basic information he needs to settle down quickly
and happily. Companies will typically have an induction programme in place and
follow the same processes for all new hires, although the induction process may
vary depending on the industry, the job role and the seniority of the new hire.
Informal
Communication
Informal
communication is casual communication between co-workers in the workplace.
Some people refer to informal communication as the ‘grapevine.’ Informal
communication can occur in the same setting as formal communication
Internship
The position
of a student or trainee who works in an organization, sometimes without pay, in
order to gain work experience or satisfy requirements for a qualification. Internships
are typically targeted towards students, who work between one-and-four months
at their chosen company to gain practical on-the-job or research experience.
-J
Job
Analysis
Job analysis is the procedure through which you determine the duties
and nature of the jobs and the kinds of people who should be hired for their
goal. Job analysis also gives an
overview of the physical, emotional & related human qualities required to
execute the job successfully.
Job analysis is an important
step in ensuring that the right candidate is selected. Job analysis helps the
employer in recruitment and selection, performance management, choosing
compensation and benefits, etc. It helps the employees to have a clear picture
of what is actually required of them.
Job
Board
It refers to an
online service that employers use to advertise job. Job boards can list open
positions with the relevant contact details or include a standardized
application platform which allows candidates to apply directly. Recruitment
companies use job boards to post open positions as part of their service to HR
departments.
Job
Classification
Job
classification refers to a process of evaluation aimed at job comparison
using standardized scale to differentiate between job groups on the basis
of tasks, duties and responsibilities involved while performing the job.
Job Description
Job description
refers to a written informative documentation that states the duties, tasks,
responsibilities and qualifications of a job, based on the findings of a job
analysis. Job description is used either in the recruitment process to inform
the applicants of the job profile and requirements or in the performance
management process to evaluate the employee’s performance.
Job
Evaluation
Job evaluation
is the rating of jobs in an organization. This is the process establishing
the value or worth of jobs in a job hierarchy and compares the relative
intrinsic value or worth of jobs within an organization.
Job
Rotation
It is movement
of employees in different job roles which enriches their skills, ability to
work on different roles and experience. It is a useful HR strategy to create
awareness among employees about all types of job performed in their vertical.
Johari
Window
The Johari window is a technique designed to help people better understand their relationship with themselves and others. It represents a feedback model used in self-help groups and corporate environment to improve individual and team performance.
In the Johari window method,
participants are given a list of 56 adjectives with the task to choose five or
six they feel best describe their personality. Colleagues are asked to do the
same for the participant.
-K
Key
Performance Indicator (KPIs)
A Key Performance Indicator (KPI)
is a measurable value that demonstrates how effectively a company is achieving
key business objectives. KPIs provide targets for teams to shoot for,
milestones to gauge progress, and insights that help people across the
organization make better decisions. From finance and HR to marketing and sales,
key performance indicators help every area of the business move forward at the
strategic level.
Key
Result Areas (KRAs)
Key result areas (KRAs) broadly define the job profile for the employee and enable them to have better clarity of their role. KRAs should be well-defined and easy to measure. It also helps employees to align their role with that of the organisation.
Knowledge
Management
Knowledge
Management (KM) is the process of generating, accumulating, sharing and using
knowledge for improving organisational performance. It is creation of new skills,
capabilities, competencies and sharing the use of this knowledge by
organisational members. In other words, it is a process of creating an
interactive learning environment where people transfer and share what they
know, internalize it and apply it to create new knowledge.
KSAs
Knowledge,
skills and abilities, often used in the context of the KSAs candidates need to
perform a job role. KSAs are often outlined in the job description in both the
personal qualities required and the professional qualities required. Many job
applications will ask candidates to show, in a few hundred words, how their
knowledge, skills and abilities relate to the requirements of the job.
-L
Labor
Union
A labour union
is an organization formed by workers in a particular trade, industry, or
company for the purpose of improving pay, benefits, and working conditions.
Officially known as a “labor organization,” and also called a “trade union” or
a “workers union,” a labor union selects representatives to negotiate with
employers in a process known as collective bargaining.
Lateral
Recruitment
Lateral
recruitment is the process of hiring a "skilled and Professional
candidate" for the job that needs to be filled. it is also termed as a
specialized hiring and the experts are generally from another organization
which is well-known as the leader in the field whom it would be to your lead to
employ your organisation.
Layoff
A layoff
describes the act of an employer suspending or terminating a worker, either
temporarily or permanently, for reasons other than an employee's actual
performance.
Learning
and Development
Leadership development refers to activities that
improve the skills, abilities and confidence of leaders. Programmes vary
massively in complexity, cost and style of teaching. Coaching and mentoring are
two forms of development often used to guide and develop leaders.
Learning
Management System
Learning management system is a platform for businesses and organizations designed to train and educate employees. Components typically include content delivery and other tools needed to administer, measure, track, and report / analyze the effectiveness of a company’s training initiatives. Modern learning management systems (LMS) are often cloud-based solutions, allowing access to training and other LMS content & features online using a standard web browser.
-M
Management
by Objective
Management
by objectives is a results-driven process that aims to define objectives within
an organisation so that behaviours can be aligned with the achievement of these
objectives. The theory underlying MBO is that people are more motivated and
productive when they clearly understand their roles and responsibilities.
Management
Styles
Management styles are the
principles that underlie the methods, abilities and techniques managers use in
handling situations and expressing leadership within an organisation. Generally
speaking, managerial styles are polarised between autocratic and permissive,
although each style has its own subtleties.
Autocratic managers make
decisions without input from other stakeholders and their interactions with
others are based on communicating these decisions – directive autocrats also
supervise subordinates closely, while permissive autocrats give employees some
degree of freedom in how they work towards a goal.
Management
Training
Management
training is training activity that focuses on improving an individual's skills
as a leader and manager. There may be an emphasis on soft skills, such as
communication and empathy, which enable better team work and more progressive
relationships with the people they manage.
Matrix
Organization
Matrix
organization, a system characterized by a form of management with multiple
chains of command. Unlike a traditional hierarchy in which each worker has one
supervisor, a matrix system requires employees to report to two or more
managers, each responsible for a different aspect of the organization’s overall
product or service.
Mean Wage
The mean wage is the average wage that employees receive for the same
work performed during a given period of time. Adding all the wages of employees
in a specific job or industry and dividing that total by the number of
employees gives us the Mean wage. This figure is often used as a benchmark for determining
salaries to offer new hires or for estimating costs for new business processes.
This figure is often used as a benchmark for determining salaries to offer new
hires or for estimating costs for new business processes.
Mentoring
Mentoring is a relationship between two people with the goal of professional and personal development. The "mentor" is usually an experienced individual who shares knowledge, experience, and advice with a less experienced person, or "mentee."
Merit Pay
Merit pay is a system, where one is paid on the basis of the achievement
of targets by an individual. These are done on a metric basis where the
individuals are evaluated on the targets and levels achieved in the metric and
are paid or compensated accordingly.
Micromanagement
Micromanagement
is a management style whereby a manager closely observes and/or controls and/or
reminds the work of their subordinates or employees. Micromanagement is
generally considered to have a negative connotation, mainly because it shows a
lack of freedom in the workplace.
Millennials
Millennials,
also known as generation Y, is a term used to describe individuals born between
circa 1985 and 1995. Millennials are the first generation in recorded history
which is projected to be worse off than those which came before.
Characteristics of this generation include stronger sense of community, bigger
tolerance as well as a bigger sense of entitlement. They are often called
liberal and tolerant, sceptical about authority and prone to question social
and cultural issues. Very technology advanced.
-N
Nepotism
Favouritism
to relatives due to the blood relationship rather than making decisions based
on standard metrics such as performance, personality, achievements and results.
A related term is cronyism, which is favouritism to friends and other
non-relatives based on the relationship rather than merit.
Net Salary
Net salary
is the “take home” salary of an employee after all the mandatory deductions
such as taxes that are made from the total gross salary. It is the actual
amount credited to bank account of employees.
Net Salary =
Basic + Additions (Bonuses, Allowances) – Deductions
Non-disclosure
Agreement
Nondisclosure
agreement, also known as confidentiality agreement, refers to a legal contract
between multiple parties restricting them to share information about the
business of the other party. Mostly used in restricting employees from
disclosing confidential or proprietary information of the company.
-O
Occupational
Stress
A term
commonly used in the professional business industry, occupational stress refers
to the ongoing or progressing stress an employee experiences due to the
responsibilities, conditions, environment or other pressures of the workplace.
There are several types of occupational stress, depending on the individual
employee, their job role, the company culture and more.
Offer Letter
An offer letter
is a document which is given to a candidate after he has been selected for the
position. The letter clearly, mentions the salary package, designation,
department and other benefits that he will be entitled to, if he joins the
company. Other than this, a statement of at-will employment, list of
contingencies, and a confidentiality agreement. A signed offer letter doesn’t
mean that you are legally bound to join the company after that. However, that
may be possible in very rare circumstances.
Offshoring
The practice
of basing a business or part of a business in a different country, usually
because this involves paying less tax or other costs. A range of processes are
commonly offshored, including manufacturing, IT, customer service and research
& development.
Objective
and Key Results
The
Objective and Key Results methodology is a goal setting framework that helps
teams and organisations achieve their goals through identifiable and measurable
outcomes. Through design, the OKR framework works to create a specific standard
in teams that the whole organisation can adopt. Key results are the metrics
that is used to measure the results you accomplished. By defining key outcomes
using a metrics that include numbers makes it easy for the organisation to
communicate the team their progress towards achieving the goals in a meaningful
way. OKR framework was created by Andy Grove who is also known as the “Father
of OKRs”.
Onboarding
Onboarding
is a human resources industry term referring to the process of introducing a
newly hired employee into an organization. Also known as organizational
socialization, onboarding is an important part of helping employees understand
their new position and job requirements.
Organizational
Change
Organisational
change refers to the alteration of structural relationships and roles of people
in the organization. It is largely structural in nature. An enterprise can be
changed in several ways. Its technology can be changed, its structure, its
people and other elements can be changed. Organisational change calls for a
change in the individual behaviour of the employees.
Organizational
Culture
Organizational
culture, also known as corporate culture, refers to the values, attitudes,
beliefs and behaviours that characterize and contribute to organization's
unique social and emotional work environment. Organizational culture is unique
for every organization and one of the hardest things to change and consists of
written and unwritten rules that have been developed over time.
Organizational
Development
Organizational development is a critical and science-based process that helps organizations build their capacity to change and achieve greater effectiveness by developing, improving, and reinforcing strategies, structures, and processes.
Orientation
Orientation is
the process of bringing employees up to speed on organisational policies, job
roles and responsibilities and other organisational attributes and concepts
that will help them transition efficiently into the position. In larger companies,
and for roles with greater responsibilities, the orientation process may
include time spent in several departments as well as specialist learning
programs.
Outsourcing
Outsourcing
is the business practice of hiring a party outside a company to perform
services and create goods that traditionally were performed in house by the
company's own employees and staff. Outsourcing is a practice usually undertaken
by companies as a cost-cutting measure. As such, it can affect a wide range of
jobs, ranging from customer support to manufacturing to the back office.
-P
Payroll
Payroll is
the compensation a business must pay to its employees for a set period or on a
given date. It is usually managed by the accounting or human resources
department of a company. Small-business payrolls may be handled directly by the
owner or an associate.
Payroll can
also refer to the list of employees of a business and the amount of
compensation due to each of them. It is a major expense for most businesses and
is almost always deductible. It means that the expense may be deducted from
gross income lowering the taxable income of the company.
Payroll
Software
Payroll
software is an on-premises or cloud-based solution that manages, maintains and
automates payments to employees. Robust, integrated and properly configured
payroll software can help organizations of all sizes maintain compliance with
tax laws and other financial regulations and reduce costs. This frees human
resources (HR) teams from routine tasks so that they can spend more time on
planning, budgeting, and other business-forward initiatives.
People
Analytics
People
analytics is the use of employee and candidate's data to understand their
impact on business goals and assess the effectiveness of hiring and HR initiatives.
People Analytics applies math, statistics, and modelling to candidate and
employee data, or big data, to identify and predict patterns in all aspects of
hiring and management and promotes positive employee experience. People
analytics can be used in measuring employee retention rate, compare
compensation, performance and attributes of the employees within the same team
and gives a competitive advantage to top performing candidates and help in
improving the hiring process by identifying the top performing candidates and
understanding optimise spend on hiring.
People
Operations
People Operations, also known as People Ops, is the management of labour within an organization. It is a business function that falls under the HR umbrella focusing on employee development, engagement, and retention. People operations views employees as talents that deserve transparency and voice in the organisation.
Performance
Appraisal
Performance
appraisal refers to periodic review and evaluation of an employee’s job performance
(skills, achievements etc) and contribution to the company. They can be
conducted whenever but tend to be annual, semi-annual or quarterly. Performance
appraisals are a way for companies to determine which employees have
contributed the most to the company so they can reward them accordingly.
Performance
Improvement
Performance
improvement is measuring the output of a particular business process or
procedure, then modifying the process or procedure to increase the output,
increase efficiency, or increase the effectiveness of the process or procedure.
Performance
Improvement Plan
A
performance improvement plan (PIP), also known as a performance action plan, is
a tool to give an employee with performance deficiencies the opportunity to
succeed. It may be used to address failures to meet specific job goals or to
ameliorate behavior-related concerns. Outcomes may vary, including improvement
in overall performance; the recognition of a skills or training gap; or
possible employment actions such as a transfer, demotion or termination.
Performance
Management
Performance
management is a corporate management tool that helps managers monitor and
evaluate employees' work. Performance management's goal is to create an
environment where people can perform to the best of their abilities and produce
the highest-quality work most efficiently and effectively.
Performance
Management Cycle
Performance
management cycle is a process in which employees are evaluated throughout the
year. All employees go through this cycle, starting with goal-setting at the
beginning of the year, followed by the monitoring of their progress, helping
them develop to do better, and ending with a formal evaluation afterward.
Performance
Planning
Performance
planning refers to a company's formal process of identifying and planning
either an individual's or organization's goals and the best way to reach them.
As the first stage of performance management, performance planning involves the
setting of goals and targets that will ultimately be used to judge if an
organisation has improved its performance over a period of time.
Probationary
Arrangements
Probationary
arrangement refers to an agreement between employers and usually new employees
in which the employees agree to work for a set amount of time on a trial or
probationary period.
Initial probationary periods are between three and six months or a year. Once the probationary period is over, if both parties are happy with the employment arrangements, the employee is typically removed from probation.
Probationary
Period
Probationary
periods are defined periods of time wherein employees are exempt from certain
contractual terms, most importantly the notice period required for termination.
The probationary period allows both employee and employer to see if they are a
‘good fit’ and to make things easier if they need to terminate the contract.
The duration of a probation period varies across businesses and industries.
However, generally they last somewhere between 3 months to a year.
Psychometric
Test
Psychometric
test is a scientific method which organizations employ to analyze the behavior
aspect of people. They gauge if a particular person is suited for a job opening
based on two core principles, i.e., personality and ability. They are created
to map an individual’s skills, personality traits, and attitude required to
perform successfully on-the-job. The tests analyze the role fitment of a job
prospect. Psychometric profiling assessments measure specific behavioral traits
that often get missed out during personal interviews. Thus, psychometric tests
provide a more holistic view of a prospect’s personality. Psychometric
evaluation is used in recruitment and learning and development (L&D) to improve
the quality of hires and make development programs useful and engaging. They
assist employers in making the right people decisions.
-Q
Quality
Management
Quality management is the act of overseeing all activities and tasks that must be accomplished to maintain a desired level of excellence. This includes the determination of a quality policy, creating and implementing quality planning and assurance and quality control and quality improvement. It is also referred
to as total
quality management (TQM).
Queen Bee
Syndrome
Queen Bee
Syndrome is defined as a situation where high ranking women in positions of
authority treat the women who work below them more critically than their male
counterparts. The researchers argued, largely because the patriarchal culture
of work encouraged the few women who rose to the top to become obsessed with
maintaining their authority.
-R
Recruitment
Recruitment
is the process of actively seeking out, finding and hiring candidates for a
specific position or job. The recruitment definition includes the entire hiring
process, from inception to the individual recruit’s integration into the
company.
Recruitment
Software
It is
software tools used by recruiters, talent acquisition professionals, and hiring
managers to streamline or automate some part of the recruitment workflow
including functions such as sourcing, selecting, screening, and interviewing
candidates.
Redundancy
Redundancy
is when an employee is asked to leave or laid off if there is no work.
Redundancy is one of the reasons for the dismissal of a person's employment
under fixed-term contract. When a work does not exist anymore or has got
diminished, the employee may be removed of his employment which is under a
fixed-contract, called as Redundancy. The non-existence may be attributed to
lack of projects or funds for research have stopped flowing into the system
etc.
Relieving
Letter
Relieving
Letter is a formal letter that is issued to an employee at the time of leaving
an organization. It is a formal way of communicating to the employee that the
resignation has been accepted. A relieving letter is required at the time of
joining a new company. It should clearly mention the on board time and that the
employee has no dues with the organization.
Remuneration
Remuneration
is the payment or compensation received for services or employment. This
includes a base salary and any bonuses or other economic benefits that an
employee or executive receives during employment. In addition to the regular
pay-in hourly wages or annual salary it consists of commissions, bonuses
(including those paid in stock), and overtime, holiday, vacation, and sick pay.
Request for
Proposal
RFP, is a
document that companies use to gather information about services from a
potential supplier or vendor.
The RFP will
provide detail information about the goals and nature of the project that the
company needs completed. In addition, it will detail the number of pages and
illustrations that the proposal should contain, what laws the project is
subject to, and what qualifications the contractors should have. The company
may request the proposal to contain other information as well, depending on the
project.
Restricted
Holidays
The
Restricted holiday is also called an Optional holiday in the Indian leave
management policy. It is the type of holiday that is optional for an employee
and depends on him whether he/she wants to avail the same. They are allowed to
select a particular number of restricted holidays in a financial year that is
defined as the maximum limit of restricted holidays. For example, Rakshabandhan
is a festival that is celebrated among Hindus, in this case, it is categorized
as an optional or restricted holiday, it depends on employees whether to take
the leave or not. This type of holiday is to promote the cultural pluralism of
the country.
Retention
Strategy
Retention
strategies are policies and plans that organizations follow to reduce employee
turnover and attrition and ensure employees are engaged and productive in
long-term. The key challenge for businesses is ensuring that the retention
strategy aligns with business goals to ensure maximum return on investment.
Reverse
Mentoring
In reverse mentoring, a junior team member enters into a "professional friendship" with someone more senior and they exchange skills, knowledge and understanding. For example, younger employees with a deep understanding of social media may mentor older employees on the use of such technologies.
Rewards and
Recognition
Rewards and
Recognition is a system where people are acknowledged for their performance in
intrinsic or extrinsic ways. Recognition & Reward is present in a work
environment where there is appropriate acknowledgement and appreciation of
employees’ efforts in a fair and timely manner. This includes appropriate and
regular financial compensation, as well as employee or team celebrations,
recognition of years served, and/or milestones reached.
Right to
Manage
A ‘right to
manage’ is a mandate of managers or leaders to govern a company in the way they
see fit without influence from external parties. In most situations managers
will be influenced by external stakeholders, such as shareholders or pressure
groups.
Risk
Management
Risk
management is a process whereby organisations identify and analyse potential
business risk and put in place policies to reduce or mitigate their exposure to
these hazards. HR risk
management focuses on the specific risks employees pose to the business. This
could involve risks around improper employee management, employee behavior, or
the way you hire and lose employees.
Roster
Management
Roster or
Shift Management refers to managing employees in an organization who have
different working hours based on the shift they are in. Roster management is
usually done in organisations where there are morning, afternoon and evening
shifts. It is done to ensure that each shift has adequate number of employees
so that the productivity doesn’t get hampered.
Rotational
Training
Rotational
training refers to a training and development type of strategy where employees
are rotated between departments, jobs and company functions in order to enhance
employee's experience, skills and knowledge.
Rotational
training aims to diversify an individual’s understanding, knowledge and skills
by rotating them between departments, units or divisions. Rotational training
can help break down internal silos by connecting individuals from different
teams and establishing relationships that may yield opportunities in the future.
-S
Sabbatical
Leave
Sabbatical
leave is a period in which a person does not report to their job but is still
employed by their company. Sabbatical leave is usually taken by employees who
want to pursue personal interests, such as studying, traveling, writing, and
volunteering. Sabbaticals can be paid or unpaid but are essentially just
extended periods of leave. Companies started having this policy so that
employees can rejuvenate themselves.
Sensitivity
Training
Sensitivity
training refers to one of the organizational development techniques which
through counselling methods works on increasing employee well-being,
self-awareness of an individual's own prejudices and sensitivity to others.
Members of different gender, culture and abilities are brought together in a
free and open environment, in which participants discuss different issues in an
interactive way.
Situational
Leadership
A management
theory stating that effective leadership varies, but is task-relevant, and the
most successful leaders are those that adapt their leadership style to the
maturity of their audience.
Skill Gap
Skills gap
refers to the difference between the skills required for a job and the skills
employee actually possesses. Because of skills gap employee might not be able
to perform the complete job.
Social
Collaboration
Social
Collaboration is the aggregation of processes – typically web-enabled – that
are used by businesses and organizations to increase efficiency by facilitating
group interaction and information sharing among members of a work team. Social
collaboration is the joined-up efforts of multiple stakeholders in pursuit of a
common goal.
Social HR
Social HR
refers to the use of social media tools/platforms (Facebook, LinkedIn, Twitter,
etc.) to conduct and fulfill human resource activities (recruiting, employment
branding, employee engagement) with the aim of aligning HR goals to the
company’s business goals.
Social
Networking
The building
of online communities of people who have common interests. LinkedIn, Facebook
and Twitter facilitate these interconnected systems. HR departments have begun
to incorporate social networking into the recruiting process as a means to
attract and evaluate candidates.
Social
Recruitment
Social
recruiting (social hiring or social media recruitment) is recruiting candidates
by using social platforms as talent databases or for advertising. Social
recruiting uses social media profiles, blogs, and other Internet sites to find
information on candidates.
Software as
a Service (SaaS)
Software as
a service (or SaaS) is a way of delivering applications over the Internet—as a
service. Instead of installing and maintaining software, you simply access it
via the Internet, freeing yourself from complex software and hardware
management. SaaS is closely related to the application service provider (ASP)
and on demand computing software delivery models.
Staffing
Staffing refers to the continuous process of finding, selecting evaluating and developing a working relationship with current or future employees. The main goal of staffing is to fill the various roles within the company with suitable candidates. Staffing can be done within the company or by contractors at various levels of the staffing process.
Strategic
HRM
Strategic
human resource management is a proactive process of managing employees in an
organization, that includes standard human resource components such as
attracting, developing, rewarding, and retaining employees and brings them one
step further by taking in consideration the goals and needs of other
departments within the organization, and the organization itself.
It's
important to analyze organization-wide goals and needs, including all
departments, and create a strategy for managing employees that is aligned with
the overall vision, mission and values of the particular organization. The
end-goal of the strategic human resource management is ensuring a higher chance
of organizational success.
Strategic
Planning
A coherent
planning strategy whereby businesses define their values, objectives and needs
and then allocate resources and organised processes to help the business
achieve these values and objectives. Strategic planning is a major part of
formulating three-year, five-year and 10-year plans. A variety of techniques
exist to help businesses plan strategically, including SWOT (Strengths,
Weaknesses, Opportunities, Threats) in their Succession Planning definition.
Succession
Planning
Succession
planning is a strategy for passing on leadership roles—often the ownership of a
company—to an employee or group of employees. Also known as "replacement
planning," it ensures that businesses continue to run smoothly after a
company's most important people move on to new opportunities, retire, or pass
away.
Summary
Dismissal
Summary
dismissal is the immediate termination of an employment contract due to an
employee’s behaviour. Employers tend to categorize negative behaviour into
misconduct and gross misconduct – gross misconduct typically forms the basis
for summary dismissal, and can include things like turning up to work under the
influence of drugs, violence against a colleague or client, hijacking client
relationships or stealing sensitive corporate materials.
Suspension
Suspension
is when an employee is sent home from work, usually while receiving full pay.
Employers are entitled to suspend an employee pending an investigation of gross
misconduct or other serious disciplinary matter. The right to suspend will
usually be set out in employees' contract of employment or the staff handbook
(if any). Whilst a suspension is not a disciplinary action by itself, it often
leads to disciplinary proceedings.
System
Changeover
System
changeover is concerned with the smooth shift from one way of doing things to
another and the mitigation of disruption to business activities during the
changeover. There are three main methods used: phased implementation, direct
changeover and parallel running.
Phased
implementation: A staged method whereby one part of the overall system that
needs changing is changed. If any problems arise, they are limited in scope and
therefore non-critical. Once the system has been successfully changed in one
area, the other areas can follow suit, with any lessons learned during the
initial changeover used to ensure the success of the changeover as a whole.
Parallel
running: Both the old and the new systems run side-by-side, using live data, so
that project managers can compare the efficiency and reliability of the new
system. Once they’re satisfied, the old system is taken offline and the new
system becomes fully active and utilised across the organisation.
Direct
changeover: There’s a single, fixed point where one system stops being used and
the new one becomes live. This is the cheapest, quickest and easiest form of
system changeover but is also the riskiest – if the system is broken or
inefficient, the whole organisation suffers.
Systemic
Discrimination
Systematic
discrimination, also called institutionalized discrimination, refers to a
method of discrimination which occurs regularly in the workplace as an inherent
part of the company through interactions and processes creating a disadvantage
for people with common set characteristics such as race, gender and disability
over a long period of time. Systematic discrimination is not apparent at first
sight but is actually systematic in its application of policies and practices.
-T
Talent
Acquisition
Talent
Acquisition refers to the process of identifying and acquiring skilled workers
to meet your organizational needs. The talent acquisition team is responsible
for identifying, acquiring, assessing, and hiring candidates to fill open
positions within a company. Employer branding, future resource planning,
diversifying a company’s labor force, and developing a robust candidate
pipeline are the cornerstones of talent acquisition.
Talent
Management
Talent
management is the attraction, selection, and retention of employees, which
involves a combination of HR processes across the employee life cycle. It
encompasses workforce planning, employee engagement, learning and development,
performance management, recruiting, onboarding, succession and retention.
Talent Management
Software
It refers to
an integrated tool that focuses on different components of managing human
resource management. It includes features designed to help all employees reach
their full potential, and to keep company leadership well-informed of their
performance. Going far beyond traditional, annual reviews, effective talent
management software provides solutions that support employee talent’s,
day-to-day work, as well as overall career development.
Tangible
Rewards
Tangible
rewards refer to material rewards which can be financial in the form of cash or
in a form of gifts which can be converted into cash. In a business, company or
corporation this is typically a salary, bonus, fringe benefits, pay raise, gym
or club membership.
Tax
Tax are
involuntary fees levied on individuals or corporations and enforced by a
government entity - whether local, regional or national - in order to finance
government activities. In economics, taxes fall on whoever pays the burden of
the tax, whether this is the entity being taxed, such as a business, or the end
consumers of the business's goods.
Taxable
Income
Taxable
income refers to the base upon which an income tax system imposes tax. In other
words, the income over which the government-imposed tax. Generally, it includes
some or all items of income and is reduced by expenses and other deductions.
The amounts included as income, expenses, and other deductions vary by country
or system
Team
Building
Team
building is a management technique used for improving the efficiency and
performance of the workgroups through various activities. It involves a lot of
skills, analysis and observation for forming a strong and capable team. A
motivating factor is a must. Team Building activities consist of various tasks
undertaken to groom a team member, motivate him and make him perform his best.
Total
Compensation
The term
total compensation is used to describe all forms of monetary payments to an
employee. For existing employees, this can include both base pay as well as
incentives. For newly-hired employees, the total compensation in the year hired
may also include a sign-on bonus.
Total
Quality Management
Total
quality management is a management approach founded on a set of beliefs that aim
at continuous improvement of product and process integrity. TQM is underlined
by the belief that quality is the responsibility of all parties involved in the
production process, and so ensuring consistency and quality requires input and
buy-in from everyone. Practices and systems include cross-functional product
design, process management, supplier quality management, customer involvement,
information and feedback, committed leadership, strategic planning,
cross-functional training, and employee involvement.
Total
Remuneration
Total
remuneration refers to a total sum of an employee’s annual compensation
package, including both basic pay aka salary and financial (pension plans,
bonuses, incentive) and non-financial benefits (gym membership, access to counselling
services).
Training and
Development
Training and
development refers to educational activities within a company created to
enhance the knowledge and skills of employees while providing information and
instruction on how to better perform specific tasks.
Training is
a short-term reactive process meant for operatives and process while
development is designed continuous pro-active process meant for executives. In
training employees' aim is to develop additional skills and in development, it
is to develop a total personality.
In training, the initiative is taken by the management with the objective of meeting the present need fan employee. In development, initiative is taken by the individual with the objective to meet the future need of an employee.
Training
Needs Analysis
Training
needs analysis is a process that a business goes through in order to determine
all the training that needs to be completed in a certain period to allow their
team to complete their job as effectively as possible, as well as progress and
grow.
Transformational
Leadership
Transformational
leadership is a leadership style in which leaders encourage, inspire and
motivate employees to innovate and create change that will help grow and shape
the future success of the company. This is accomplished by setting an example
at the executive level through a strong sense of corporate culture, employee
ownership and independence in the workplace.
Turnover
Turnover,
commonly known as revenue, is the amount of money taken in by a company in a
particular time period from its standard business activities. Monies taken in
from other, non-core activities (e.g. land rental) is often recorded as
non-operating revenue. In non-profit organisations and charities, turnover is
often called gross receipts.
-U
Unconscious
Bias
Unconscious
biases are social stereotypes about certain groups of people that individuals
form outside their own conscious awareness. Everyone holds unconscious beliefs
about various social and identity groups, and these biases stem from one’s
tendency to organize social worlds by categorizing.
Unconscious
Bias influences our background, experiences and environmental conditions can
all play a part in shaping our choices, whether we realise it or not. For the
most part, this is not a major issue. But we display unconscious bias when we
favor or discriminate against people because of these influences without even
realising it.
-V
Variable Pay
Variable pay
is the portion of compensation determined by employee performance. When
employee hit their goals, variable pay is provided as an incentive, commission
or bonus. Variable
compensation can be communicated in advance as an incentive, or presented as a
reinforcement or bonus after the fact. Most employers compensate employees with
variable pay in the form of cash, stock, or paid time off from work.
Virtual HR
Virtual HR refers to the process of providing a range of options through the use of various types of technology to employees in order to connect them with HR services. It is managed through self-service platforms where employees can put data directly into them and skip the process of going to a third party for that action. Virtual HR is practiced due to its cost reduction impact, to gain competitive advantage and to share risks with an outsourced organization. Virtual HR functions include virtual recruiting, training and on-boarding.
Voluntary
Benefits
Voluntary benefits are employee benefits paid for by the employee rather than the employer, although the employer will pay for the administration of the scheme. The money is often deducted from the employee’s salary for the sake of simplicity, although it isn’t always. Voluntary benefits are often provided by a third-party benefits provider. Voluntary benefits allow employers to provide a greater package of options to employees but without the cost associated with providing paid-for benefits.
-W
Wage Drift
Wage drift
refers to a difference between the salary negotiated by a company and the one
that is actually paid to an employee by the end of the work period, be it
monthly or weekly. Wage drift usually occurs when a company has the
un-predicted demand and needs its workers to put in extra work hours. The
workers, naturally, receive overtime compensation for this and accumulate a
difference over their based negotiated salary over a period of time. This
phenomenon mostly occurs in areas or industries where demand is highly
unpredictable on a short-term basis, like tourism or high-growth economies.
Wellness
Programs
Employee
wellness programs are programs undertaken by an employer in order to improve
employee health and also to help individual employees overcome particular
health-related problems. The employer can offer compulsory employee training,
staff seminars, or even work with a third-party provider offering a variety of
wellness programs. A wellness program is a comprehensive health initiative
designed to maintain or improve well-being through proper diet, exercise,
stress management, and illness prevention. Wellness programs can include
smoking cessation, weight loss education, fitness challenges, therapy, and many
other plans designed to increase the overall health of an individual.
Work-Life
Balance
Work life
balance is a method which helps employees of an organization to balance their
personal and professional lives. Work life balance encourages employees to
divide their time on the basis on priorities and maintain a balance by devoting
time to family, health, vacations along with making a career, business travel
etc.
Work life
balance is a method which helps employees of an organization to balance their
personal and professional lives. Work life balance encourages employees to
divide their time on the basis on priorities and maintain a balance by devoting
time to family, health, vacations etc. along with making a career, business
travel etc.
Workforce
Management
Workforce management (WFM) is the process of strategically optimizing the productivity of employees to ensure that all resources are in the right place at the right time. Typically, a workforce management strategy includes scheduling, forecasting, skills management, timekeeping and attendance, intraday management, and employee empowerment. Complexity increases with the need to ensure that customer service supports omnichannel customer engagement.
Workforce
Planning
Workforce
Planning is the process of analyzing, forecasting, and planning workforce
supply and demand, assessing gaps, and determining target talent management
interventions to ensure that an organization has the right people - with the
right skills in the right places at the right time - to fulfill its mandate and
strategic objectives.
Workplace
Bullying
Workplace
bullying is a persistent pattern of mistreatment from others in the workplace
that causes either physical or emotional harm. Bullying at work involves an
abuse of power. Intimidating, humiliating, and degrading an employee are
behaviors of bullying. It creates a feeling of helplessness in the bullying
target.
Wrongful
Termination
Wrongful
Termination also known as wrongful dismissal or wrongful discharge, is a
situation in which an employee's contract of employment has been terminated by
the employer, where the termination breaches one or more terms of the contract
of employment, or a statute provision or rule in employment law. Laws governing
wrongful dismissal vary according to the terms of the employment contract, as
well as under the laws and public policies of the jurisdiction.