HRM Vocab Flashcards
Human Capital
An organization’s employees, described in terms of the training, experience, judgment, intelligence, relationships and insight
Recruitment
The process through which the organization seeks applicants for potential employment
Selection
The process by which the organization attempts to identify applicants with the necessary knowledge, skills, abilities and other characteristics that will help the organization achieve its goals
Training
A planned effort to enable employees to learn job-related knowledge, skills and behavior
Development
The acquisition of knowledge, skills and behaviors that improve and employee’s ability to meet changes in job requirements and in customer demands
Performance Management
The process of ensuring that employees’ activities and outputs match the organization’s goals
Workforce Analytics
The use of quantitative tools and scientific methods to analyze data from human resource databases and other sources to make evidence-based decisions that support business goals
Human Resource Planning
Identifying the the numbers and types of employees the organization will require to meet its objectives
Talent Management
A systematic, planned effort to attract, retain, develop, and motivate highly skilled employees and managers
Evidence-Based HR
Collecting and using data to show that human resource practices have a positive influence on the company’s bottom line or key stakeholders
Sustainability
An organization’s ability to profit without depleting its resources - including employees, natural resources, and the support of the surrounding community
Stakeholders
The parties with an interest in the company’s success (typically shareholders, the community, customers and employees)
Job Specifications
A statement of the essential parts of a particular job - includes duties to be performed and knowledge, skills and abilities (KSA)
Job Description
Lists the Tasks, Duties and Responsibilities of a job (aka Essential job functions)
Position Analysis Questionnaire
Standardized job analysis questionnaire containing questions about work behaviors, conditions and job characteristics
Record Retention
Under federal law, companies are required to keep:: Application for 1 year Timecards for 2 years Payroll & Benefit info for 3 years OSHA records for 5 years FMLA info for 6 years
Strategic Planning
The process by which the key stakeholders of an organization envision its future and develop a mission, objectives, and procedures to achieve that future
Mission Statement
A declaration of the company’s core purpose
Remains unchanged
Vision Statement
A statement that describes what the company would like to accomplish/achieve in the mid-long term future
Values Statement
A statement that communicates the organization’s top priorities and core beliefs to customers and employees
Core Competency
A unique capability or advantage that differentiates the organization from its competitors
Traditions
Beliefs, stories, actions related to the past that are widely commonly accepted
