What is pay equity?
Pay equity refers to equal pay for team members performing “similar” job duties–—irrespective of gender, race, ethnicity, or any other protected characteristics.
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What is quiet quitting?
Quiet quitting refers to the phenomenon where employees fulfill only the duties specified in their job description and choose not to take on additional responsibilities without an official promotion and pay raise.
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What is an Employee Resource Group (ERG?)
An Employee Resource Group (ERG) is a group of people within an organization who voluntarily join together based on shared identity, values, interests, perspectives, or goals.
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What is a job description?
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.
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What are the objectives of compensation management?
The objectives of compensation management are to attract, engage, and retain employees through competitive compensation plans that align with the company budget, corresponding job-market, and government regulations.
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What is Human Capital Management?
Human Capital Management (HCM) fuses HR strategy and HR technology for better people management.
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What are supplemental wages?
Supplemental wages are a form of compensation employers offer in addition to base income. While base pay consists of hourly wages or a monthly salary, supplemental pay includes earnings such as severance pay, bonuses, commission, overtime pay, vacation and sick pay, reported tips, and sick leave payments.
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What is company culture?
Company culture is an organization’s expression of its core values and identity into social customs and norms, business practices, and vibe. Organizations, like religious or ethnic groups, naturally develop their own work cultures and distinct characteristics.
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What are soft HRM and hard HRM?
Soft and hard HRM are two different approaches to Human Resource Management. Human Resource Management (HRM) is the strategic approach toward acquiring, hiring, training, engaging, and retaining personnel.
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What is HR benchmarking?
Benchmarking is the process of comparing similar characteristics between or within businesses, identifying the most successful practices, and integrating them into the company procedure. After collecting data for comparison purposes, HR professionals can better determine the benchmark—the target they want to shoot for.
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What is HR tech?
HR tech (Human Resources technology) is a broad term that refers to the software and hardware technology used to automate essential HR functions. HR tech functions as co-pilot, helping HR professionals streamline time-consuming tasks.
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What is a performance review?
A Performance review is an in-depth assessment that managers conduct to gauge employee progress, strengths, and weaknesses, to help improve their productivity.
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What is the meaning of diversity management?
Diversity management is an organizational process used to promote diversity and inclusion in the workplace. This process involves implementing policies and strategies in hiring, management, training, and more. The goals of diversity management are to promote fairness and equality and benefit from the advantages of a diverse organization.
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What is DEI&B in the workplace?
Diversity, equity, inclusion, and belonging (DEI&B) in the workplace are intertwined values that involve hiring individuals of different backgrounds and perspectives and wholeheartedly encouraging their participation.
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What is employee satisfaction?
Employee satisfaction refers to professionals' overall contentment regarding their company and job. A high level of employee satisfaction implies that the employer is meeting people's needs in various areas, such as compensation and benefits, co-worker and manager relationships, career opportunities, and infusing meaning into the workplace.
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What is pay parity?
Pay parity is the practice of paying people equitably. This means that those in the same job and location receive fair pay relative to each other regardless of their race, gender, sexuality, or any other identity. Specifically, the term refers to an effort to erase the gender pay gap between men and women in which women make, on average, less than men.
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