HR Simplified
| 360 Survey | An employee feedback program whereby an employee is rated by surveys distributed to his or her co-workers, customers, and managers. HR departments may use this feedback to help develop an individual’s skill or they may integrate it into performance management programs. |
| Attrition | A gradual voluntary reduction of employees (through resignation and retirement) who are not then replaced, decreasing the size of the workforce. |
| Benchmarking | A technique using specific standards to make comparisons between different organizations or different segments of the organizations, with the intent of improving a product or service. |
| Benefits Administration System |
Is a software that helps companies manage and track employee participation in benefits programs such as healthcare, flexible spending accounts, pension plans, etc. This software helps automate and streamline the complex and otherwise time-consuming tasks of benefits administration. |
| Change management | A deliberate approach for transitioning individuals or organizations from one state to another in order to manage and monitor the change. Change management can be conducted on a continuous basis, on a regular schedule (such as an annual review), or when deemed necessary on a program-by-program basis. |
| Coaching | A method of training an individual or group in order to develop skills or overcome a performance problem. Coaching can be between a manager and a subordinate or an outside professional coach and one or more individuals. There are many coaching methods and models, but close observation, accountability and feedback on progress and performance are usually included. |
| Competency Mapping | A set of descriptions that identify the skills, knowledge, and behaviors needed to effectively perform in an organization. Competency models assist in clarifying job and work expectations, maximizing productivity, and aligning behavior with organizational strategy. |
| E-Recruitment | Web-based software that handles the various processes included in recruiting and on boarding job candidates. These may include workforce planning, requisitioning, candidate acquisition, applicant tracking and reporting (regulatory or company analytics). |
| Employee Self-Service | A program that allows employees to handle many job-related tasks normally conducted by HR departments including benefits enrollment, and updating personal information. Employees can access the information through the company’s intranet, kiosks, or other Web-based applications. |
| Human Capital Management | The challenge of recruiting and retaining qualified candidates, and helping new employees fit into an organization. The goal is to keep employees contributing to the organizations intellectual capital by offering competitive salary, benefits and development opportunities. The major functions of human capital management include Recruitment, Compensation, Benefits and Training. |
| Human Resource Information System (HRIS) | Business software systems that assist in the management of human resource data (e.g. payroll, job title, candidate contact information). Some of the larger HRIS platforms include SAP and PeopleSoft. |
| Human Resource Outsourcing (HRO) | A contractual agreement between an employer and an external third-party provider whereby the employer transfers responsibility and management for certain HR, benefit or training-related functions or services to the external provider. |
| Key Performance Indicators (KPIs) | Tasks that are central to the success of a business and show, when measured, whether the business is advancing toward its strategic goals. |
| Mentoring | An informal training process between a more experienced person and a junior employee. |
| New Manager Assimilation | The New Manager Assimilation (NMA) process is designed to compress the time it takes to establish new relationships with subordinates and their incoming “Manager”. It permits an initial sounding out of needs, concerns and expectations on the side of both parties. It should occur within the first week of assuming the new position and include the new Manager and all direct reports of the Manager. The process is usually facilitated by a neutral and experienced facilitator. |
| Offshoring | The act of moving work to an overseas location to take advantage of lower labor costs. Offshoring usually involves manufacturing; information technology and back-office services like call centers and bill processing. Companies can build its own work center abroad, establish a foreign division, or create a subsidiary in remote locations. |
| Onboarding | The process of moving a new hire from applicant to employee status ensuring that paperwork is done, benefits administration is underway, and orientation is completed. |
| Outsourcing | Contracting out non-core functions, such as payroll, benefits administration or manufacturing, to save money and focus on what the company does best. |
| Performance Management | The process of maintaining or improving employee job performance through the use of performance assessment tools, coaching and counseling. The ultimate goal is to better meet organizational objectives. |
| Recruitment Process Outsourcing (RPO) | The outsourcing of the recruiting process to a third party. |
| Request for proposal (RFP) | A request sent by a company to a vendor to submit a bid for a product or service. The bid includes a timeline, a description of the good or service, the type of contract, cost and other specifics. |
| Return on investment (ROI) | The percentage of profit on an investment compared to the cost of that investment. Also called the rate of return or yield. |
| Social Media | Internet sites and services that allows users to generate and exchange content and interact with each other in a variety of ways. Forums, podcasts, bookmarking, blogs and social networking sites are types of social media. These types of interaction can be used for collaboration, communication and entertainment. HR professionals use social media to source candidates and create peer networks. |
| Sourcing | The developing of lists of potential candidates. Also relates to the task of requisitioning, or creating job descriptions, approval workflows and actual job postings. Most e-recruitment software providers include modules for requisitioning. |
| Software as a service (SaaS) | A software delivery model in which a software firm provides daily technical operation, maintenance, and support for the software provided to their client. SaaS software vendors may host the application on their own web servers or download the application to the consumer device, disabling it after use or after the on-demand contract expires. |
| Staffing | A method of finding, evaluating, and establishing a working relationship with future employees. They may be current employees or future employees. |
| Strategic HRM | Aligning human resource management (HRM) with the strategic goals of an organization. |
| Strategic Planning | The process of considering an organization’s future, usually three to five years ahead, and then working backward to create strategic plans and allot resources to realize this desired future state. This includes a hiring strategy. |
| Succession Planning | A process of systematically and deliberately preparing for future changes of leadership in key positions. The process may identify potential replacements and provide strategies for developing and/or hiring individuals to meet future needs. |
| Summary Dismissal | The immediate firing of an employee, usually due to an act of gross misconduct. |
| Training Needs Analysis | An assessment to determine the training needs of a group of employees, taking into account the employees’ prior education and skills and the desired outcome once training is completed. |
| Workforce Planning | The assessment of the current workforce in order to predict future needs. This can consist of both demand planning and supply planning. Many e-recruitment software providers include modules for workforce planning. |
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