Workforce Management Flashcards
Co-employment
Situation in which an organization shares responsibility
and liability for its alternative workers with an alternative
staffing supplier; also known as joint employment.
Downsizing
Termination of employment of individual employees
or groups of employees for reasons other than
performance, for example, economic necessity or
restructuring; also known as reduction in force (RIF)
Due diligence
Process of investigating a decision thoroughly before
finalizing it to identify all potential factors that could affect
the positive and negative impacts of the decision.
Independent contractors
Self-employed individuals hired on a contract basis for
specialized services.
Joint employment
Situation in which an organization shares responsibility
and liability for its alternative workers with an alternative
staffing supplier; also known as co-employment.
Judgmental forecasts
Use of information from past and present to predict future
conditions.
Knowledge management (KM)
Process of creating, acquiring, sharing, and managing
knowledge to augment individual and organizational
performance
Reduction in force (RIF)
Termination of employment of individual employees
or groups of employees for reasons other than
performance, for example, economic necessity or
restructuring; also known as downsizing.
Regression analysis
Statistical method used to determine whether a
relationship exists between variables and the strength of
the relationship.
Replacement planning
“Snapshot” assessment of the availability of qualified
backup for key positions.
Restructuring
Act of reorganizing the legal, ownership, operational, or
other structures of an organization
Simulations
Representations of real situations; give organizations
the opportunity to speculate as to what would happen if
certain courses of action were pursued.
Succession planning
Process of implementing a talent management strategy
for identifying and fostering the development of highpotential employees or other job candidates who, over
time, may move into leadership positions of increased
responsibility.
Talent management
Development and integration of HR processes that retain
the knowledge, skills, and abilities of employees that will
meet current and future organizational needs.
Turnover
Act of replacing employees leaving an organization;
attrition or loss of employees
