Chapter 9 Flashcards
Human resources
are the employees who work for a business
Human resources management (HRM)
is the process of hiring, training, and developing employees
Job analysis
is a process that identifies the job requirements for a position, employee qualifications, and how success will be evaluated
Job description
defines the position and expectations of a job
Compensation
is payment to an employee for work performed, including wages or salaries, incentives, and benefits
Competitive wages
are wages that are at least equal to those paid by similar businesses in the area.
Professional development
is education for people who have already completed their formal schooling and training
Salary
is fixed payment for work and is expressed as an annual figure
Incentives
are a type of compensation based on performance; pay for performance
Bonus
is money added to an employee’s base pay
Commission
is income paid as a percentage of sales made by a salesperson
Piecework
is a wage based on a rate per unit of work completed
Benefit
is a form of noncash compensation received in addition to a wage or salary, such as medical and dental insurance, sick leave, vacation time, and profit-sharing
Diversity
means having representatives from different backgrounds, cultures, or demographics in a group
Inclusion
is the practice of recognizing, accepting, and respecting diversity