Human Resource Management Assignment

By
Antony Michaeline Praveen.M RegNo: MSWHR/10/01 MSW(HR) IInd year

1.Balanced Scorecard: A popular strategic management concept developed in the early 1990's by Drs. Robert Kaplan and David Norton, the balanced scorecard is a management and measurement system which enables organizations to clarify their vision and strategy and translate them into action. The goal of the balanced scorecard is to tie business performance to organizational strategy by measuring results in four areas: financial performance, customer knowledge, internal business processes, and learning and growth. 2.Benchmarking: A technique using quantitative or qualitative data to make comparisons between different organizations or different sections of the organizations. 3.Behavioral based interview: An interview technique which focuses on a candidates past experiences, behaviors, knowledge, skills and abilities by asking the candidate to provide specific examples of when they have demonstrated certain behaviors or skills as a means of predicting future behavior and performance. 4.Branding: The process of identifying and differentiating an organization's products, processes or services from another organization by giving it a name, phrase or other mark. 5.Broadbanding: A pay structure that consolidates a large number of narrower pay grades into fewer broad bands with wider salary ranges. Broadbanding evolved because organizations want to flatten their hierarchies and move decision-making closer to the point where necessity and knowledge exist in organizations. In flattened organizations, fewer promotional opportunities exist so the broadbanding structure allows more latitude for pay increases and career growth without promotion.

6.Bumping:

The practice of allowing more senior level employees whose positions have been slotted for elimination or downsizing the option of accepting an alternative position within the organization, for which they may be qualified to perform and which is currently occupied by another employee with less seniority. 7.Coaching: A one-to-one process between a manager and subordinate, whereby the former will 'train' the latter or A training method in which a more experienced or skilled individual provides an employee with advice and guidance intended to help him or her develop skills, improve performance and enhance the quality of his or her career. 8.Emotional Intelligence: Describes the mental ability an individual possess enabling him/her to be sensitive and understanding to the emotions of others as well as being able to manage their own emotions and impulses. 9.HR Audit: A method by which human resources effectiveness can be assessed. Can be carried out internally or HR audit systems are available. 10.Human Capital: The collective knowledge, skills and abilities of an organization's employees. 11.Onboarding: A relatively new term, it is more far reaching than historical orientation programs It links new employees with team members very early in the employment process and continuing after the traditional orientation program ends. 12.Outplacement: A benefit offered by the employer to displaced employees which may consist of such services as job counseling, training, and job-finding assistance.

13.Outsourcing: 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. 14.Redundancy: The act of dismissing an employee when that employee is surplus to the requirements of the organization. 15.Applicant tracking system (ATS): Applicant tracking system works in conjunction with an online job application to track and manage applicants for your jobs online. Applicant tracking software allows the employer to deal with job applications and to manage the data collected from resumes. Most large corporations use applicant tracking software to manage the resume database created by online job applications. 16.Cafeteria plan: A cafeteria plan is an employee benefits plan that allows your employees to choose among a variety of options to create a benefits plan that best meets their needs and those of their family. 17.EAP: Employee Assistance Programs (EAPs) are part of a comprehensive benefits package that employers may provide for their employees.EAPs play a role in an employer's overall emphasis on employee wellness in the workplace. 18.Human Resource Information System (HRIS): The Human Resource Information System (HRIS) is a software or online solution for the data entry, data tracking, and data information needs of the Human Resources function within a business. Normally packaged as a data base, hundreds of companies sell some form of HRIS and every HRIS has different capabilities.

19.Job posting: Job postings are advertisements meant to notify active job searchers and passive job searchers that a company has a job opening available. Job postings have several distinct purposes. Job postings contain a written summary or overview of the requirements and qualifications that an employer seeks to find in applicants for their job opening. 20.Work-life balance: Work-life balance is a concept that supports the efforts of employees to split their time and energy between work and the other important aspects of their lives. Work-life balance is a daily effort to make time for family, friends, community participation, spirituality, personal growth, self care, and other personal activities, in addition to the demands of the workplace. Work-life balance is assisted by employers who institute policies, procedures, actions, and expectations that enable employees to easily pursue more balanced lives. 21.Virtual HR: The use of various types of technology to provide employees with self-serve options. Voice response systems, employee kiosks are common methods. 22.Sourcing: The developing of lists of potential candidates. Also relates to the task of requisitioning, or creating job descriptions, approval workflows and actual job postings. Most e-recruitment software providers include modules for requisitioning. 23.Offshoring: The act of moving work to an overseas location to take advantage of lower labor costs. Offshoring usually involves manufacturing; information technology and back-office services like call centers and bill processing. Companies can build its own work center abroad, establish a foreign division, or create a subsidiary in remote locations.

24.Human Resource Outsourcing (HRO): 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. 25.Enterprise Resourse Planning: Enterprise resource planning is 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.