A performance development review (PDR) is a regularly scheduled process where a person’s past and current performance is examined and evaluated. It can happen as frequently as once a month or as infrequently as once a year.
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Zoom fatigue is the tiredness people experience following excessive work-related video conferencing. Zoom fatigue emerged during the upsurge in Zoom usage following the COVID-19 social distancing protocols. Zoom fatigue isn’t an official medical term. But, it's real and causes people to feel: Drained of strength and energyReduced concentration and mindfulness Stress, anxiety, loneliness, or depression Burnout Why should HR leaders care about Zoom fatigue? Without a doubt, Zoom offers a convenient manner of communication, allowing individuals to meet online with co-workers while working from home. Yet, video conferencing can hinder fundamental forms…
Talent analytics is a method of utilizing employee data to promote intelligent workforce planning and business decisions. As an evolving field, talent analytics enables HR professionals to collect, analyze, and report data concerning employees and candidates to improve HR functions. Organizations rely on HR software to assist in the various forms of talent analytics, such as Algorithm-based candidate screening to source new hiresAutomated pulse surveys to gauge employee engagementPrediction of the likelihood of employee turnover Why should HR leaders care about talent analytics? With AI tech permeating every corner of…
A skills gap is the difference between an individual's knowledge level and the required criteria for the position.
A job description is a written explanation that outlines the essential responsibilities and requirements for a vacant position. Job descriptions should be thorough, clear, and concise and include: A brief introduction to the company and its missionAn overview of the job responsibilities The necessary skills, competence levels, knowledge, and qualificationsTesting that the company may require Environmental factors or strenuous components of the jobThe type of employment—full-time, part-time, or independent contractor Why should HR leaders care about job descriptions? Job descriptions are an indispensable tool. A crystal-clear job description enables HR to: Define…
Salary benchmarking is the process of evaluating a company’s internal job salaries based upon their external value. Salary benchmarking involves analyzing the main components of each position and comparing these positions to similar jobs in other companies. Organizations primarily rely on compensation surveys, government labor databases, and the assistance of compensation consultants for accurate job market data. Why should HR leaders care about salary benchmarking? Salary benchmarking helps compensation managers create competitive salaries. Though compensation isn’t the only important aspect of a job, it's obviously an essential factor, as everyone…
A merit increase process is a method of determining how frequently to offer merit increases, the percentage of increase, and who qualifies for the merit increase. To implement a data-driven merit increase process, HR leaders must assess employees' merit eligibility, internal and external value, and establish a merit allocation strategy. Why should HR leaders care about the merit increase process? A thorough merit increase process is an essential element of a smoothly-functioning company ecosystem. Properly planning the merit increase process enables companies to reward high-performing employees with competitive salary increases…
Redundancy pay is the financial compensation that employers offer employees when removing their positions from the organizational structure. Ideally, organizations will always need all their employees-- recruiting, hiring, and training new people is a significant investment, after all. However, external circumstances, such as company restructuring, job obsoletion, merging or transferring company ownership, relocation, or a downturn in business, can cause role redundancy. While the United States Department of labor leaves redundancy pay up to the employee-employer agreement, UK law includes basic redundancy regulations for employers to adhere to, in addition…
Deferred compensation is a remuneration model that enables employees to postpone receiving a portion of their salary to a later date to secure beneficial retirement and investment plans, and reduced tax rates.
A 360-degree review is a feedback system that enables designated staff members, colleagues, and managers to evaluate an employee’s work performance and competencies.
The hybrid working model is a work style that enables employees to blend working from different locations: home, on the go, or the office. An effective hybrid work system encourages:
Compensatory time off is paid time off that employees can accrue in return for working overtime. Instead of compensating employees time and a half for their overtime hours, compensatory time off provides time off plus pay.
People management refers to the practice of recruiting, training, engaging, and retaining employees to optimize their talent and maximize their productivity.
A Cost-of-living adjustment (COLA) is a company-wide compensation increase that corresponds to a rise in the cost of living.
A talent pool is a selection of outstanding candidates or employees, trained to fill positions within a company.
A boomerang employee is a worker who leaves a company and is rehired at a later point to work in the same position or a different one.
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