Workplace Flashcards
Situation in which a person or organization may benefit from undue influence due to involvement in outside activities, relationships, or investments that conflict with or have an impact on the employment relationship or its outcomes.
conflict of interest
Status of growing interconnectedness and interdependency among countries, people, markets, and organizations worldwide.
globalization
Globalization strategy that emphasizes consistency of approach, standardization of processes, and a common corporate culture across global operations.
global integration (GI)
employees who work outside their home countries
assignees
Globalization strategy that emphasizes adapting to the needs of local markets and allows subsidiaries to develop unique products, structures, and systems.
local responsiveness (LR)
Extent to which diversity is embraced in management of people, products/services, and branding.
identity alignment
Extent to which underlying operations such as IT, finance, or HR integrate across locations.
process alignment
Method by which an organization relocates its processes or production to an international location through subsidiaries or third-party affiliates.
offshoring
Relocation of business processes or production to a lower-cost location inside the same country as the business.
onshoring
Practice of contracting a part of business processes or production to an external company in a country that is relatively close (for example, within the same own region).
near-shoring
Process by which employees returning from international assignments reintegrate into their home country’s culture, conditions, and employment.
repatriation
Process by which an organization moves an employee out of an international assignment; can involve moving back to the home country, moving to a different global location, or moving to a new location or position in the current host country.
redeployment
A high-level characterization of the amount of uncertainty (acceptable risk) an organization is willing to pursue or to accept to attain its risk management goals.
risk appetite
A characterization of the amount of uncertainty (acceptable risk) an organization is willing to pursue or to accept to attain its risk management goals, defined in a range above and below a target.
risk tolerance
Expected monetary loss every time a risk occurs; calculated by multiplying asset value by exposure factor.
single loss expectancy (SLE)
Expected monetary loss for an asset due to a risk over a one-year period; calculated by multiplying single loss expectancy by annualized rate of occurrence.
annualized loss expectancy (ALE)
Situation in which one party engages in risky behavior knowing that it is protected against the risk because another party will incur any resulting loss.
moral hazard
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.
principal-agent problem
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).
risk scorecard
Metrics that provide an early signal of increasing risk exposures for an enterprise.
key risk indicators (KRI’s)
Amount of uncertainty that remains after all risk management efforts have been exhausted.
residual risk
System of rules and processes set up by an organization to ensure its compliance with local and international laws, accounting rules, ethical norms, internal codes of conduct, and other standards.
governance
Economic, social, and environmental impact metrics used to determine an organization’s success.
triple bottom line
Type of liability insurance covering an organization against claims by employees, former employees, and employment candidates alleging that their legal rights in the employment relationship have been violated.
employment practices liability insurance (EPLI)
U.S. act that prohibits discrimination against job applicants on the basis of national origin or citizenship and establishes penalties for hiring undocumented workers.
immigration reform and control act (IRCA)
U.S act that protects privacy of background information and ensures that information supplied is accurate.
fair credit reporting act (FCRA)
U.S act that frees employers who use third parties to conduct workplace investigations from the consent and disclosure requirements of the Fair Credit Reporting Act in certain cases.
fair and accurate credit transactions act (FACT Act)
Type of discrimination that occurs when an applicant or employee is treated differently because of his or her membership in a protected class.
disparate treatment
Type of discrimination that results when a policy that appears to be neutral has a discriminatory effect; also known as adverse impact.
disparate impact
Type of discrimination that results when a policy that appears to be neutral has a discriminatory effect; also known as disparate impact.
adverse impact
First comprehensive U.S. law making it unlawful to discriminate on the basis of race, color, religion, sex, or national origin.
civil rights act of 1964
Procedural document designed to assist employers in complying with federal regulations prohibiting discrimination.
uniform guidelines on employee selection procedures
Amends Executive Orders 11478 and 11246 to include gender identity and sexual orientation.
executive order 13672
U.S. case that set the standard for determining whether discrimination based on disparate impact exists.
Griggs v. duke power
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.
phillips v. Martin marietta corp
U.S. act that expands the possible damage awards available to victims of intentional discrimination to include compensatory and punitive damages; gives plaintiffs in cases of alleged discrimination the right to a jury trial.
civil rights act of 1991
U.S. act that prohibits discrimination in the workplace on the basis of age.
Age discrimination in employment act (ADEA)
Type of sexual harassment that occurs when an employee is forced to choose between giving in to a superior’s sexual demands and forfeiting an economic benefit such as a pay increase, a promotion, or continued employment.
quid pro quo harassment
Occurs when sexual or other discriminatory conduct is so severe and pervasive that it interferes with an individual’s performance; creates an intimidating, threatening, or humiliating work environment; or perpetuates a situation that affects the employee’s psychological well-being.
hostile environment harassment
Legal doctrine under which a party can be held liable for the wrongful actions of another party.
vicarious liability
Any fixed, recurring period of 168 consecutive hours (7 days times 24 hours = 168 hours).
workweek
U.S. act that defines what is included as hours worked and is therefore compensable and a factor in calculating overtime.
portal-to-portal act
U.S. act that prohibits wage discrimination by requiring equal pay for equal or “substantially equal” work performed by men and women.
equal pay act (EPA)
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.
prudent person rule
process by which a retirement becomes nonforfeitable
vesting
