HRM

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Common HR Terms

Every day, we are asked for clear definitions of human resource management topics. While definitely not a comprehensive compilation of important of terms and topics related to human resources, we hope this mini glossary provides great value to our clients and readers.

Positive Affirmative Action (Affirmative Action) – Affirmative action is the practise of taking race, gender, national origin, or another protected trait into account when making hiring decisions. It is intended to mitigate the impact of earlier prejudice.

Arbitration – Arbitration is a kind of conflict settlement in which two parties voluntarily agree to accept the decision of an impartial arbitrator in their dispute. The process of arbitration is comparable to that of a court trial, however it is less formal.

Benefits – Employee benefits are an element of the complete compensation package, which includes all monetary remuneration for an employee’s work except direct payment. Some perks, such as social security, unemployment compensation, and workers’ compensation, are necessary, while others, such as paid time off, health care, retirement, child care, employee discounts, club memberships, and financial assistance schemes, are optional.

Interviews with Exiting Employees – Exit interviewing and surveying (EIS) is a technique for gathering information from departing employees. EIS is used to determine the causes of employee attrition, training and development requirements, and strategic planning objectives. Exit interviews often focus on employee opinions about pay and benefits, working conditions, opportunities, workload, and work relationships, while they may also focus on a specific problem area, such as cybersecurity.

Audits of Human Resources – A human resources (HR) audit is a set of methodical, formal methods used to assess an organization’s HR management system’s efficiency and effectiveness. The audit compares the present system to important internal and external standards, assesses its suitability for achieving the firm’s strategic and operational goals, and provides a framework for improving the firm’s people management.

Job and organisational design, recruiting and selection, performance management, remuneration and benefits, employee development and training, HR planning, labour relations, diversity management, and compliance with legal and governmental requirements are some of the specific areas of examination.

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