HC Vocab Flashcards
HRIS
Human Resource Information System, used interchangeably (perhaps incorrectly so) with HRMS (Human Resource Management System), HCM (Human Capital Management) system
—> PeopleSoft, SAP, and Workday are two big examples
HRIS covers: Recruiting / ATS (Applicant Tracking System) Core Human Resources Benefit Administration /Open Enrollment Absence Management Compensation Management Training & Development Workflow Self-Service (Candidate / Employee / Manager) Reporting
HCM software includes every element of an HRIS, but adds Talent Management and global capabilities such as multi-lingual, multi-currency, country-specific formatting and possibly localization.
HRMS software providers typically cover every element of an HRIS and many include the capabilities of an HCM - plus payroll and time and labor management (TLM).
- Workday as an example --> central nervous system for tracking employee information (demographic information for paying, communicating, admin of benefits - job level and compensation level, exempt and non-exempt employees and time tracking. ). Workday has additional modules that pull from central Workday, like a module for Payroll to pay you and take taxes out and give a bonus, gym reimbursement, etc. Another module could be for tracking vacation days accrued and used. Performance review module. With an M&A, need to calibrate so both companies have the same number of pay levels and titles in Workday, vacation day tracking rules --> all these changes are strategic choices outside of workday and then have to be updated in workday. People get extremely unhappy about changes to compensation and benefits, especially if communication is really important --> townhalls, then email follow up, then 1x1 with manager, have heads of department available to communicate the decisions in multiple phases.
Shared Services
Shared services is a model for delivering corporate support, combining and consolidating services from headquarters and business units into a distinct entity based on market-like principles.
The shared-services entity must be able to compete vigorously with outside vendors. Business units are under marketplace discipline in all other respects — they must be free to seek support services that meet the same test. Proprietary standards and corporate culture are out. Best practices are in, if the business units are to gain competitive advantage.
Internal customers can specify their service needs. Providers must meet those requirements, and they can expect to have their performance evaluated using measurable criteria. So structured, the shared-services unit becomes another business unit, perceived and managed as an outside vendor, with no choice but to be competitive on price and service level.
Centers of Excellence
a team, a shared facility or an entity that provides leadership, best practices, research, support and/or training for a focus area.
M&A
Mergers and acquisitions (M&A). Mergers, acquisitions,
and divestitures have become a standard part of business
strategy. Yet HR still tends to approach each M&A deal as a
once-in-a-lifetime event. Also, HR’s goals are often limited
to achieving cost synergies and integrating workforces from
an administrative perspective. Although such goals are
important, they are just a starting point. What companies
should really consider are HR capabilities that make
mergers, acquisitions, and divestitures fast, efficient, and
repeatable. These new capabilities should include the ability
to effectively and reliably combine two distinct workforces
into a truly integrated organization that can help the
business achieve its growth goals. They should also include
an improved ability to retain critical talent. The value of a
merger often hinges on the talent being acquired, and if too
many people leave, much of that value may be lost.
HR Business Partner
HR professionals who work closely with an organisation’s senior leaders in order to develop an HR agenda that closely supports the overall aims of the organisation.
Change Champions
carefully selected and trained to manage the inevitable uncertainty that is bound to arise within your team when faced with a program of change. They are charged with reducing the pressure on management, identifying and dealing with issues quickly, gathering feedback on communications, identifying the main resistors and detractors amongst the team and carefully managing that resistance.
Commitment Curve
Understanding what the level of commitment on the team can help the leader focus efforts in the appropriate way. For example if the level of commitment is low, the leader may need to do more work on developing awareness of why this change is necessary.
Decision Rights
Decision Rights: help companies to organize their decision making and execution by setting clear roles and accountabilities and by giving all those involved a sense of ownership of decisions: when to provide input, who should follow through and what is beyond their scope. Clear decision rights allow companies to cut through the complexity often clouding today’s global structures by ensuring that critical decisions are made promptly and well and result in effective actions.
Matrix Organization:
Matrix Organization: a company structure in which the reporting relationships are set up as a grid, or matrix, rather than in the traditional hierarchy. In other words, employees have dual reporting relationships - generally to both a functional manager and a product manager.
Talent Lifecycle
the standard talent lifecycle of 1) workforce planning, 2) sourcing talent, 3) selecting talent, 4) developing talent, 5) rewarding work and, eventually, 6) ending the company-worker relationship.
Workforce analytics
Workforce analytics is an advanced set of data analysis tools and metrics for comprehensive workforce performance measurement and improvement. While people analytics focuses on the personnel aspect, workforce analytics focuses on the workforce on a slightly larger scale. Workforce analytics can be measured in a number of ways – whether it be company specific measurements, measurements across an entire industry, an examination of a group of jobs, or something else, the data applied to analytics is dynamic. It analyzes recruitment, staffing, training and development, personnel, and compensation and benefits, as well as standard ratios that consist of time to fill, cost per hire, accession rate, retention rate, add rate, replacement rate, time to start and offer acceptance rate.
Span of Control
refers to the number of subordinates a supervisor has.
HR Transformation
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
Super User
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
HR Service Delivery
The way in which HR services are delivered to a company (e.g., shared services)
