HC Vocab

Question 1

Workforce Planning

Answer 1

The assessment of the current workforce in order to predict future needs. This can consist of both demand planning and supply planning. Many e-recruitment software providers include modules for workforce planning.

Question 2

HR Shared Services

Answer 2

With a shared services approach, business units can have better internal “customer service” access to HR when they need it, resulting in more consistent levels of service and a higher degree of customer satisfaction. But to achieve these benefits, simply deciding to combine disparate services isn’t enough. An HR Shared Services operation creates clear definition and structure, uniform standards of operation and direct alignment with the larger business.

Question 3

HR Transformation

Answer 3

Project whereby Human Resources is evaluating its proceses, policies and technologies to understand where it can streamline its current state to save costs and operate more efficiently in the future; typically involves an implementation of new technology and/or shift in HR service delivery model

Question 4

Finance Transformation

Answer 4

A type of project whereby we partner with S&O and Tech to enable CFOs and finance executives to improve business performance and shareholder value while improving operational effectiveness. Similar to HR Transformation, but for the finance department; often looking at Org Design, where to streamline processes, etc.

Question 5

PeopleSoft

Answer 5

A human resource management systems provider

Question 6

Workday

Answer 6

Cloud-based HR management system becoming increasingly popular; we have a big practice dedicated to this

Question 7

CHRO

Answer 7

Chief Human Resources Offer

Question 8

HRIS

Answer 8

Human Resources Information System; Business software systems that assist in the management of human resource data (e.g. payroll, job title, candidate contact information). Some of the larger HRIS platforms include SAP and Peoplesoft.

Question 9

Stakeholder Analysis

Answer 9

Analysis of all potential groups of individuals impacted by the challenge you are trying to solve with how they are impacted and what this means for the project; typically can identify critical workforce segements and who is responsible for what in the transformation

Question 10

Communications Strategy and Plan

Answer 10

The plan created that outlines the who (message receiver and sender), what (message), when (timing), and where/how (tactic - email, townhall, etc.) of communications during a project

Question 11

Workforce Analytics

Answer 11

Gathering data about one’s workforce / setting up the means to gather data about a workforce to use data to drive human capital decisions

Question 12

Change Agent

Answer 12

Individuals designated as leaders in the change process; they are the important stakeholders who are critical to driving the change implemented in an organization

Question 13

Change Readiness

Answer 13

The willingness of stakeholders to embrace change

Question 14

Org Design

Answer 14

Reporting relationships within the company; Span of control

Question 15

Equity

Answer 15

Long-term compensation in the form of stock

Question 16

Super User

Answer 16

Individuals designated as leaders in the adoption of a new technology system; similar to change agents, they are used to help the organization adopt new technology by teaching others both in formal training or on-the-job; they typically are treated in a special way (little perks, etc.) since being designated a super user is an added responsibility onto day-to-day work

Question 17

HR Service Delivery

Answer 17

The way in which HR services are delivered to a company (e.g., shared services)

Question 18

Change Management

Answer 18

A deliberate approach for transitioning individuals or organizations from one state to another in order to manage and monitor the change. Change management can be conducted on a continuous basis, on a regular schedule (such as an annual review), or when deemed necessary on a program-by-program basis.

Question 19

Leadership Development Programs

Answer 19

Activities, whether formal or informal, that enhance leadership qualities

Question 20

E-Learning

Answer 20

E-learning is a method of education via the Internet or other computer related resources. It presents just-in-time information in a flexible learning plan. E-learning can be combined with face-to-face courses for a blended learning approach.

Question 21

Employee Assessments

Answer 21

Tests used to help employers in pre-hire situations to select candidates best suited for open positions. These tests can sometimes be taken via the Internet and can provide employees with effective training, assist managers in becoming more effective, and promote people into appropriate positions. Types of assessments include those to determine personality, aptitude and skills.

Question 22

Employee Retention

Answer 22

Practices and policies designed to create a work environment that makes employees want to stay with the organization, thus reducing turnover.

Question 23

Employee Self-Service

Answer 23

A program that allows employees to handle many job-related tasks normally conducted by HR departments including benefits enrollment, and updating personal information. Employees can access the information through the company’s intranet, kiosks, or other Web-based applications.

Question 24

ERP

Answer 24

Short for enterprise resource planning, a business management system that integrates all facets of the business, including manufacturing, sales, marketing, finance and human resources. This is slightly different than best-of-breed HRIS applications and the industry continues to debate the merits of one versus the other. With the growing popularity of web-based applications (ease of use, lower costs) ERP seems to be losing out, especially in the mid-market.

Question 25

PMO

Answer 25

Program Management Office; or Project Management Office - the ‘command center’ of the project that oversees all parts for integration purposes

Question 26

Executive Compensation

Answer 26

Also called executive pay, compensation packages are specifically designed for executive-level employees that include items such as base salary, bonuses, perquisites and other personal benefits, stock options and other related compensation and benefit provisions.

Question 27

Flexible Work Arrangements

Answer 27

Schedules that allow employees to structure their work hours around their personal responsibilities. Examples include flextime, job sharing, telecommuting and a compressed workweek. Home sourcing has become a popular flexible work concept in recent years. In this arrangement, employees work full-time from their homes.

Question 28

FTE (Full Time Equivalent)

Answer 28

A value assigned to signify the number of full-time employees that could have been employed if the reported number of hours worked by part-time employees had been worked by full-time employees instead.

Question 29

Generation X

Answer 29

The term used to describe individuals born between 1965 and 1980.

Question 30

Generation Y

Answer 30

The term used to describe individuals born between 1985 and the present.

Question 31

Generation I

Answer 31

The term used to describe children born after 1994 who are growing up in the Internet age.

Question 32

Goal Setting

Answer 32

Assigning specific, attainable goals to a person, team or organization. Goal setting is a motivational technique, as workers often rise to the challenges given them.

Question 33

HR Generalist

Answer 33

An individual who is able to perform more than one diversified human resources function, rather then specializing in one specific function.

Question 34

HR Outsourcing

Answer 34

A Service Delivery Model for HR; A contractual agreement between an employer and an external third-party provider whereby the employer transfers responsibility and management for certain HR, benefit or training-related functions or services to the external provider.

Question 35

Incentive Pay

Answer 35

Additional compensation used as a motivational tool to exceed specified work goals.

Question 36

KPIs

Answer 36

Tasks that are central to the success of a business and show, when measured, whether the business is advancing toward its strategic goals.

Question 37

Learning Management Software/System

Answer 37

A software platform for businesses and organizations designed to train and educate employees. Components typically include content delivery and other tools needed to administer, measure, track, and report / analyze the effectiveness of a company’s training initiatives. Modern learning management systems (LMS) are often cloud-based solutions, allowing access to training and other LMS content & features online using a standard web browser.

Question 38

Merit Pay

Answer 38

Performance-related pay which provides bonuses or base pay increases for workers who perform their jobs effectively, according to measurable criteria.

Question 39

Outsourcing

Answer 39

Contracting out non-core functions, such as payroll, benefits administration or manufacturing, to save money and focus on what the company does best.

Question 40

Performance Management

Answer 40

The process of maintaining or improving employee job performance through the use of performance assessment tools, coaching and counseling. The ultimate goal is to better meet organizational objectives.

Question 41

Request for Proposal (RFP)

Answer 41

A request sent by a company to a vendor to submit a bid for a product or service. The bid includes a timeline, a description of the good or service, the type of contract, cost and other specifics.

Question 42

Succession Planning

Answer 42

The process of identifying long-range needs and cultivating a supply of internal talent to meet those future needs. Used to anticipate the future needs of the organization and assist in finding, assessing and developing the human capital necessary to the strategy of the organization.

Question 43

Training Needs Analysis

Answer 43

An assessment to determine the training needs of a group of employees, taking into account the employees’ prior education and skills and the desired outcome once training is completed.