Exam 1 Flashcards
Capital
Capital includes cash, valuables or goods used to generate income for a business.
Human Capital
The skills and abilities of employees, which ultimately make a business successful.
human resource management (HRM)
The process of employing people, training them, compensating, developing policies relating to the workplace, and development of strategies to retain employees.
Staffing
The entire hiring process from the first step of posting a job to the actual hiring an
employee.
Compensation
Anything employees receive for their work. It can include pay, benefits, vacation time, and sick leave.
Retention
The process and strategies of keeping and motivating employees to stay with the organization.
External Factor
Anything over which the company has no direct control; it could positively or negatively impact human resources.
flexible work schedules
A policy that allows employees to set their own schedules to work around family and personal needs.
Telecommuting
Allows employees to work from home or a remote location for a specified period of time, such as one day per week
cafeteria plans
A type of benefits plan that gives all employees a minimum level of benefits, and a set amount the employee can spend on flexible benefits, such as additional healthcare or vacation time.
Turnover
Replacement of employees who are fired or quit. The term is normally expressed as a percentage: the ratio of the number of workers that had to be replaced in a given period to the average number of workers at the organization.
Offshoring
Moving jobs overseas in order to contain costs.
Virtual organization
An organization that does not have a physical office; rather, employees use technology and do their job from home or the location of their choice.
Cyberloafing
Using a work computer for personal reasons, resulting in lost productivity.
Code of Ethics
A document that explains the expected ethical behavior of employees.
Sustainability
refers to the concept of implementing policies and procedures to help environmental protection, social responsibility, and implementing practices that contribute to the overall economic contribution of the organization.
Furlough
Refers to the temporary layoff of a worker, in which the worker will likely go back to work after the crisis
Human Resource Strategy
An elaborate and systematic plan of action developed by the human resources department.
HRM strategic plan
A written document that consists of the major objectives the organization wants to achieve.
HR Plan
Detailed, written plan to ensure the strategic plan is achieved.
Organizational Life Cycle
Refers to the introduction, growth, maturity, and decline of the organization, which can vary over time. A different HRM strategy is needed, depending on the organizational life cycle the company is experiencing.
Staffing Plan
A detailed document that synthesizes information to determine how many people should be hired, when they should be hired, and what skills they should have.
Head hunter
A person who specializes in matching jobs with people and usually works only with high-level positions.
Company Culture
The organization’s way of doing things.
Performance appraisal
A method by which job performance is measured.
Recruitment
A process that provides the organization with a pool of qualified job candidates from which to choose
Internal Candidate
Someone who applies for a position within the company who is already working for the company.
bidding systems
A system or a process in which job advertisements may be posted internally through a predetermined method so all employees have access to them.
job analysis
job analysis - A formal system developed to determine the tasks people actually perform in their jobs
Job Design
Refers to how a job can be modified or changed to be more effective, for example, changing tasks as new technology becomes available.
Job Description
A list of tasks, duties, and responsibilities of a job
Immigration Reform and Control Act (ICRA)
A law adopted by Congress in 1986 that requires employers to attest to their employee’s immigration status.
job specifications
The skills and abilities the person must have to perform the job.
disparate impact
When an organization discriminates through the use of a process, affecting a protected group as a whole, rather than consciously intending to discriminate.
disparate treatment
When one person is intentionally treated differently than another, not necessarily impacting the larger protected group as a whole, as in disparate impact.
résumé parsing
Software that searches for keywords in resumes.
nepotism
A preference for hiring relatives of current employees.
employee referral program (ERP)
A type of recruitment strategy that involves a planned program to access current employee referrals.
Yield Ratio
The percentage of applicants from one source who make it to the next stage in the selection process.
Selection Process
the steps involved in choosing people who have the right qualifications to fill a current or future job opening
talent acquisition software
A type of software that assists the recruiting and selection function in HR.
KSAOs
Knowledge, skills, abilities, and other personal characteristics that make a person successful on the job.
talent management system
An HR system that allows for tracking of many HR functions, such as talent acquistion, performance management, compensation management, and others.
validity
How useful a tool is to measure a person’s attributes for a specific job opening.
biographical information blanks (BIBs)
A series of questions about a person’s history that may have shaped their behavior.
weighted application form
Involves selecting an employee characteristic to be measured and then identifying which questions on the application predict the desired behavior. Then scores are assigned to each predictor.
Reliability
the degree in which selection techniques yield similar data over time
external candidate
someone who works outside the organization
unstructured interview
type of interview in which questions are changed to match the specific applicant.
structured interview
interview with set of standardized questions based on the job analysis, not on the individual candidate’s resume
situational interview
interview style which the candidate is given a sample situation and asked how they might deal with the situation.
behavior description interview
A type of interview in which the candidate is asked questions about what they actually did in a variety of given situations.
