Final Flashcards
Absence rate
days absent in month ÷ (average # of employees during a month x # of workdays)
Benefit or program costs per employee
total cost of employee benefit/program ÷ total # of employees
Benefits as a percent of salary
annual benefits cost ÷ annual salary
Compensation as a percent of total compensation
annual salary ÷ total compensation (salary + benefits + additional compensation)
Compensation or benefit revenue ratio
compensation or benefit cost ÷ revenue
Cost per hire
recruitment costs ÷ (compensation cost + benefits cost)
Engagement or satisfaction rating
percent of employees engaged or satisfied overall or with agiven aspect of the workplace
Percent of performance goals met or exceeded
of performance goals met or exceeded ÷ total # of performance goals
Percent receiving performance rating
of employees rated under a given score or rating on their performance evaluation ÷ total # of employees
Revenue per employee
revenue ÷ total # of employees
Return on investment (ROI)
(total benefit - total costs) x 100
Time to fill (average)
total days taken to fill a job ÷ number hired
Training/development hours
sum of total training hours ÷ total # of employees
Tenure
average # of years of service at the organizationacross allemployees
Workers’ compensation cost per employee
total workers compensation cost for year ÷ average number of employees
Workers’ compensation incident rate
(number of injuries and/or illnesses per 100 full-time employees ∕ total hours worked by all employees during the calendar year) x 200,000
Yield ratio
percentage of applicants from a recruitment source that make it to the next stage of the selection process
5 Generations in the Workplace
Traditionalists – 6% • Baby Boomers – 42% • Generation X – 29% • Generation Y/Millennials– 23% • Generation Z - ?
ADDIE
(analysis, design, development, implementation, and evaluation) model:
Instructional systems design (ISD) framework consisting of five steps that guide the
design and development of learning programs.
Alternative dispute resolution (ADR)
Umbrella term for the various approaches and
techniques, other than litigation, that can be used to resolve a dispute (e.g., arbitration,
conciliation, mediation).
Analytics
Tools that add context or sub-classifying comparison groups to data so that
the data can be used for decision support.
Applicant
Person who has applied for or formally expressed interest in a position
Applicant tracking system (ATS)
Software application that automates organizations’
management of the recruiting process (e.g., accepting application materials, screening applicants).
Arbitration
Method of alternative dispute resolution (ADR) by which disputing parties agree to be bound by the decision of one or more impartial persons to whom they submit their dispute for final determination.
Assessment center
Process by which job candidates or employees are evaluated to determine their suitability and/or readiness for employment, training, promotion or
an assignment.
Balance sheet
Statement of an organization’s financial position at a specific point in time, showing assets, liabilities and shareholder equity
Balanced scorecard
Performance management tool that depicts an organization’s overall performance, as measured against goals, lagging indicators and leading indicators
Benchmarking
Process by which an organization identifies performance gaps and
sets goals for performance improvement, by comparing its data, performance levels and/or processes against those of other organizations.
Benefits
Mandatory or voluntary payments or services provided to employees, typically covering retirement, health care, sick pay/disability, life insurance and paid time
off (PTO).
Bias
Conscious or unconscious beliefs that influence a person’s perceptions or actions,
which may cause that person to become partial or prejudiced.
Bona fide occupational qualification (BFOQ)
Factor (e.g., gender, religion, national origin) that is reasonably necessary, in the normal operations of an organization, to carry out a particular job function
Business case
Tool or document that defines a specific problem, proposes a solution, and provides justifications for the proposal in terms of time, cost efficiency and probability of success.
Business intelligence
Raw data, internal and external to an organization, that is translated into meaningful information for decision makers to use in taking strategic action.
Business unit
Element or segment of an organization that represents a specific business function (e.g., accounting, marketing, production); also, may be called department,
division, group, cost center or functional area.
Buy-in
Process by which a person or group provides a sustained commitment in support of a decision, approach, solution or course of action.
Career development
Progression through a series of employment stages characterized by relatively unique issues, themes and tasks.
Career mapping
Process by which organizations use visual tools or guides to depict prototypical or exemplary career possibilities and paths, in terms of sequential positions, roles and stages.
Career pathing
Process by which employers provide employees with a clear outline for moving from a current to a desired position.
Cash flow statement
Statement of an organization’s ability to meet its current
and short-term obligations, showing incoming and outgoing cash and cash reserves in operations, investments and financing.
Center of excellence (COE)
Team or structure that provides expertise, best practices, support and/or knowledge transfer in a focused area.
Change initiative
Transition in an organization’s technology, culture or behavior of its employees and managers.
Change management:
Principles and practices for managing a change initiative so that it is more likely to be accepted and provided with the resources (financial, human, physical, etc.) necessary to reshape the organization and its people
Coaching
Focused, interactive communication and guidance intended to develop and enhance on-the-job performance, knowledge or behavior.
Collective bargaining
Process by which management and union representatives negotiate the employment conditions for a particular bargaining unit for a designated
period of time.
Comparable worth
Concept that jobs primarily filled by women, which require skills, effort, responsibility and working conditions comparable to similar jobs primarily
filled by men, should have the same classifications and salaries.
Competencies
Clusters of highly interrelated attributes, including knowledge, skills, abilities and other characteristics (KSAOs), that give rise to the behaviors needed to
perform a given job effectively
Compliance
State of being in accordance with all national, federal, regional and/or local laws, regulations and/or other government authorities and requirements applicable to the places in which an organization operates
Conciliation
Method of nonbinding alternative dispute resolution (ADR) by which a neutral third party tries to help disputing parties reach a mutually agreeable decision
(i.e., mediation).
Conflict of interest
Situation in which a person or organization may potentially benefit, directly or indirectly, from undue influence, due to involvement in outside
activities, relationships or investments that conflict with or have an impact on the employment relationship or its outcomes.
Corporate social responsibility (CSR)
Concept that a corporation has an impact on
the lives of its stakeholders and the environment, encompassing such areas as corporate governance, philanthropy, sustainability, employee rights, social change, volunteerism, corporate-sponsored community programs and workplace safety
Cost-benefit analysis (CBA)
Approach to determining the financial impact of an
organization’s activities and programs on profitability, through a process of data or
calculation comparing value created against the cost of creating that value.
Critical path
Amount of time needed to complete all required elements or components of a task, determined by taking into account all project-task relationships
Culture
Basic beliefs, attitudes, values, behaviors and customs shared and followed by
members of a group, which give rise to the group’s sense of identity.
Disability
Physical or mental impairment that substantially limits one’s major life activities.
Diversity
Differences in people’s characteristics (e.g., age, beliefs, education, ethnicity,
gender, job function, personality, race, religion, socioeconomic status, thought processes, work style)
Due diligence
Requirement to thoroughly investigate an action before it is taken, through diligent research and evaluation.
E-learning
Electronic media delivery of educational and training materials, processes and programs.
Emotional intelligence (EI)
Ability to be sensitive to and understand one’s own and others’ emotions and impulses.
Employee engagement
Employees’ emotional commitment to an organization,
demonstrated by their willingness to put in discretionary effort to promote the organization’s effective functioning
Employee surveys
Instruments that collect and assess information on employees’ attitudes and perceptions (e.g., engagement, job satisfaction) of the work environment
or employment conditions
Employee value proposition (EVP)
Employees’ perceived value of the total rewards
and tangible and intangible benefits they receive from the organization as part of
employment, which drives unique and compelling organizational strategies for talent
acquisition, retention and engagement.
Employees
Persons who exchange their work for wages or salar
Ethics
Set of behavioral guidelines that an organization expects all of its directors,
managers and employees to follow, in order to ensure appropriate moral and ethical
business standards.
Evidence-based
Approach to evaluation and decision-making that utilizes data and research findings to drive business outcomes.
Focus group
Small group of invited persons (typically six to twelve) who actively participate in a structured discussion, led by a facilitator, for the purpose of eliciting
their input on a specific product, process, policy or program.
Gap analysis
Method of assessing a current state in order to determine what is needed to move to a desired future state.
Global mindset
Ability to have an international perspective, inclusive of other cultures’ views.
Globalization
Status of growing interconnectedness and interdependency among countries, people, markets and organizations worldwide
Governance
System of rules and processes set up by an organization to ensure its compliance with local and international laws, accounting rules, ethical norms, internal codes of conduct and other standards.
Hazard
Potential harm, often associated with a condition or activity that, if left uncontrolled, can result in injury or damage to persons or property.
HR business partner
HR professional who advises an organization’s leaders in developing and implementing a human capital strategy that closely aligns with overall
organizational mission, vision and goals
HR service model
Approach to structuring and delivering an organization’s HR services to support organizational success.
Human resource information system (HRIS)
Information technology (IT) framework and tools for gathering, storing, maintaining, retrieving, revising and reporting relevant HR data.
Inclusion
Extent to which each person in an organization feels welcomed, respected, supported and valued as a team member.
Individual development plan (IDP)
Document that guides employees toward their
goals for professional development and growth.
Information management (IM)
Use of technology to collect, process and condense
information to manage the information efficiently as an organizational resource.
Integrity
Adherence to a set of ethical standards, reflecting strong moral principles, honesty and consistency in behavior.
Internal equity
Extent to which employees perceive that monetary and other rewards are distributed equitably, based on effort, skill and/or relevant outcomes.
Job analysis
Process of systematically studying a job to identify the activities/tasks and responsibilities it includes, the personal qualifications necessary to perform it, and
the conditions under which it is performed.
Job description
Document that describes a job and its essential functions and requirements (e.g., knowledge, skills, abilities, tasks, reporting structure, responsibilities).
Job enlargement
Process of broadening a job’s scope by adding different tasks to the job.
Job enrichment
Process of increasing a job’s depth by adding responsibilities to the job
Job evaluation
Process of determining a job’s value and price to attract and retain employees, by comparing the job against other jobs within the organization or against similar jobs in competing organizations.
Key performance indicators (KPIs)
Quantifiable measures of performance that
gauge an organization’s progress toward strategic objectives or other agreed-upon
performance standards
