Leased employees are people who receive compensation from a staffing agency to perform work for a recipient company. Recipient companies generally bring in leased employees to fulfill a temporary position or complete a specific project.
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A gender pay gap is a difference in pay between men's and women’s average salaries.
A talent acquisition specialist is an HR professional who specializes in finding the right people to fill open roles, especially those that require specialized skill sets. Talent acquisition specialists often work in fast-moving industries that compete for highly-skilled talent.
Temporary employees are people a company hires for a limited period of time or to complete a particular project. Companies can hire temporary employees directly or through a temp agency.
Gen Z is short for “Generation Z,” the generation born between 1995 and 2012. Currently constituting 27 percent of the United States population, Gen Z is the largest generation in US history. They are also the most racially and ethnically diverse of all of the generation groups.
A leave of absence (LOA) is time people can take off from work for extraordinary circumstances. If a company's policies concerning time off, sick leave, vacation, and holidays cover LOA, then the team member on leave can receive payment. Otherwise, the leave of absence is unpaid. While companies may not always compensate people for a leave of absence, they do provide protective benefits, and the person on leave can access their health insurance and accrue vacation days.
Talent acquisition is an HR process that involves sourcing and hiring suitable candidates for a company’s current and future labor needs.
“Employee type” refers to different kinds of employees an organization can hire. Organizations must consider the legal obligations and regulations applied to each type of employee.
A statutory employee is designated by the United States IRS as a unique type of employee somewhere between an independent contractor and a standard employee. You can think of statutory employees as having more freedom than a common law employee but less control than an independent contractor. An individual must agree to this standing with their employer upon hiring and sign a service contract outlining the conditions.
An employee retention strategy is a calculated approach to keeping people motivated to work at their jobs. In the current job-hopping culture, people are often on the lookout for better work situations, unless they’re happy at their jobs.
Awareness of the employee lifecycle can help HR professionals better understand–and therefore improve–the employee experience at all of its different stages. By helping you improve the employee experience, the employee lifecycle model assists you in attracting better talent and retaining people longer, resulting in a reduction in turnover and its associated costs. It can also improve your reputation in the employment market, helping you attract a talented, driven, and productive workforce.
A recruitment management system (RMS) is software that helps HR conduct the entire recruitment process. A typical RMS operates as an updated applicant tracking system (ATS), offering all the administrative automation of an ATS, plus candidate relationship management (CRM) features. While an ATS generally satisfies the needs of small businesses, an RMS includes full services, so it typically has more to offer for medium and large companies.
An agile organization is a company that responds to unpredictable market changes with resilience and flexibility. While traditional organizations embody a hierarchical structure and rely on extensive processes and planning, agile organizations act promptly and proactively to satisfy customers and flow with the shifting market.
A floating holiday is a paid day off that an employee can decide to take on a day of their choosing. It’s called a floating holiday because it can “float” to whichever day the person chooses. Companies usually provide these in addition to the standard paid holidays as a type of benefit.
A stay interview is a formal discussion between a leader and an employee to determine how to enhance the employee’s engagement. Stay interviews are one-on-one to encourage people to share information they may feel uncomfortable bringing up in a group setting.
Recruiting software is designed to help optimize the hiring process, automating repetitive tasks and offering data-based insights. It can improve the hiring workflow for HR professionals, recruiters, and hiring managers while enhancing the candidate experience.
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