Glossary terms Flashcards
W
Weighted mean
Average of data that adds factors to reflect the importance of different values.
Weingarten rights
Union employees’ right in U.S. to have a union representative or coworker present during an investigatory interview.
Wildcat strike
Work stoppages at union contract operations that have not been sanctioned by the union
Worker Adjustment and Retraining Notification (WARN) Act
U.S. act that requires some employers to give a minimum of 60 days’ notice if a plant is to close or if mass layoffs will occur.
Workforce analysis
Systematic approach to anticipate human capital needs and data HR professionals can use to ensure that appropriate knowledge, skills, or abilities will be available when needed to accomplish organizational goals and objectives.
Workforce profile
Part of workforce analysis that identifies the current make-up of employees in terms of their demographics, skills, competencies, performance levels, expected retirement dates, pay grades, and other factors that help explain the workforce’s composition.
Work-to-rule
Situation in which workers slow processes by performing tasks exactly to specifications or according to job or task descriptions
Vietnam Era Veterans’ Readjustment Assistance Act (VEVRAA)
U.S. act that prohibits discrimination against specified categories of veterans; applies to federal government contractors and subcontractors.
Vicarious liability
Legal doctrine under which a party can be held liable for the wrongful actions of another party.
Variance analysis
Statistical method for identifying the degree of difference between planned and actual performance or outcomes.
Value drivers
Actions, processes, or results that are needed to deliver a desired value
Value chain
The process by which an organization creates the product or service it offers to the customer.
Unweighted mean
Raw average of data that gives equal weight to all values, with no regard for other factors.
Uniform Guidelines on Employee Selection Procedures
Procedural document designed to assist employers in complying with federal regulations prohibiting discrimination.
Triple bottom line
Economic, social, and environmental impact metrics used to determine an organization’s success.
Trend analysis
Statistical method that examines data from different points in time to determine if a variance is an isolated event or if it is part of a longer trend.
Transformational leadership
Leadership theory that emphasizes a leader’s ability to inspire employees to embrace change; leaders encourage and motivate employees to innovate and seek out changes that can add value and growth to the organization.
Trait theory
Leadership theory that states that leaders possess certain innate characteristics that followers do not possess (and probably cannot acquire), such as physical characteristics and personality traits.
Time-based step-rate pay
System in which pay is based on longevity in the job and pay increases occur on a pre-determined schedule.
Theory X/Theory Y
Motivation theories dealing with the amount of control in the workplace; motivation is seen as either absolutely irrelevant or absolutely critical.
Sarbanes-Oxley Act (SOX)
U.S. act that requires that all publicly held companies establish internal controls and procedures for financial reporting to reduce the possibility of corporate fraud.
Scenario/what-if analysis
Statistical method used to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved.
Secondary action
Attempt by a union to influence an employer by putting pressure on another employer, for example, a supplier.
Shared services HR model
HR structural alternative in which centers with specific areas of expertise develop HR policies in those areas; each unit can then select what it needs from a menu of these services.
Single loss expectancy (SLE)
Expected monetary loss every time a risk occurs; calculated by multiplying asset value by exposure factor
Sit-down strike
Refusal by workers to work; also refusal by workers to leave their workstations, making it impossible for the employer to use replacement workers.
Situational theories
Category of leadership theories that states that leaders can flex their behaviors to meet the needs of unique situations, employing both task or directive behaviors and relationship or supportive behaviors; includes Hersey-Blanchard situational leadership, Fiedler’s contingency theory, and path-goal theory.
SOAR analysis
Type of analysis in which a group identifies strengths, opportunities, aspirations, and results; a framework that combines fact finding with an organization’s goals and desires, presenting an analysis of the organization’s actual state and how it will measure achievement.
Span of control
Refers to the number of individuals who report to a supervisor
Staffing
HR function that acts on the organizational human capital needs identified through workforce planning and attempts to provide an adequate supply of qualified individuals to complete the body of work necessary for the organization’s financial succes
Situation judgment tests (SJTs)
Assessment tools that present prospective leaders with sample situations and problems they might encounter in a work environment.
Ratio analysis
Comparing the sizes of two variables to produce an index or percentage; commonly used to analyze financial statements.
Realistic job preview (RJP)
Tool used to provide a job applicant with honest, complete information about a job and the work environment.
Red-circle rates
Situations in which employees’ pay is above the range maximum.
Regression analysis
Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.
Remuneration surveys
Instruments that collect information on prevailing market compensation and benefits practices (including starting wage rates, base pay, pay ranges, statutory and market cash payments, variable compensation, and paid time off)
Residual risk
Amount of uncertainty that remains after all risk management efforts have been exhausted.
Risk scorecard
Tool used to gather individual assessments of various characteristics of risk (for example, frequency of occurrence; degree of impact, loss, or gain for the organization; degree of efficacy of current controls).
Root-cause analysis
Type of analysis that starts with a result and then works backward to identify fundamental cause
Qualitative data
Subjective evaluation of actions, feelings, or behaviors.
Quantitative data
Objective measurements that can be verified and used in statistical analysis.
Pacesetting leadership approach
Leadership approach in which the leader sets a model for high performance standards and challenges followers to meet these expectations.
Paired-comparison method
Job evaluation method in which each job is compared with every other job being evaluated; the job with the largest number of “greater than” rankings is the highest-ranked job, etc.
Patient Protection and Affordable Care Act (PPACA)
2010 U.S. law that requires virtually all citizens and legal residents to have minimum health coverage and requires employers with more than 50 full-time employees to provide health coverage that meets minimum benefit specifications or pay a penalty.
Pay compression
Occurs when there is only a small difference in pay between employees regardless of their experience, skills, level, or seniority; also known as salary compression.
Pay for performance (P4P, PfP)
Situation where an individual’s performance on the job is the basis for the amount and timing of pay increases; also called merit pay or performance-based pay.
Person-based pay
Pay systems in which employee characteristics, rather than the job, determine pay
Phillips v. Martin Marietta Corporation
1971 U.S. case that stated that an employer may not, in the absence of business necessity, refuse to hire women with preschool-aged children while hiring men with such children
Point-factor system
Job evaluation method that looks at compensable factors (such as skills and working conditions) that reflect how much a job adds value to the organization; points are assigned to each factor and then added to come up with an overall point value for the job
Portal-to-Portal Act
U.S. act that defines what is included as hours worked and is therefore compensable and a factor in calculating overtime
Pregnancy Discrimination Act
U.S. act that prohibits discrimination on the basis of pregnancy, childbirth, or related medical conditions
Principal-agent problem
Situation in which an agent (for example, an employee) makes decisions for a principal (for example, an employer) potentially on the basis of personal incentives that may not be aligned with the principal’s incentives.
Principled negotiation
Process in which negotiators aim for mutual gain, emphasizing the need to focus on the problem instead of personal differences and on mutually beneficial outcomes.
Project labor agreement (PLA)
Agreement that requires specific contractors to accept certain conditions in project contracts, such as paying a fair wage and contributing to health insurance, pension, and training funds
Prudent person rule
States that a fiduciary of a plan covered by the U.S. Employee Retirement Income Security Act has legal and financial obligations not to take more risks when investing employee benefit program funds than a reasonably knowledgeable, prudent investor would under similar circumstances.
