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.
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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.
Incorporating culture fit into the HR strategy allows HR to recruit and hire people who appreciate the company culture. This employee-employer alignment sets the stage for a harmonious work environment conducive to high-performance work, productivity, efficiency, and innovation
An HR audit is a self-evaluation HR departments perform to assess their functionality and compliance with government regulations. HR auditing generally focuses on two domains: 1. Current practices and processes. For example, revamping the organization’s training and development program to include a wider variety of learning options or refining the recruitment process by rewriting the job descriptions. 2. HR KPIs. For instance, focusing on decreasing the absenteeism rate, time to hire, or time to fill.
A gap analysis in workforce planning is a process that looks at an organization’s workforce and its skills and compares it to the skills required to reach its key goals. It is used to identify potential deficiencies in an organization’s current workforce and abilities. Gap analyses aim to help an organization succeed by allowing it to make strategic plans for upskilling and hiring.
Occupational health (OH) is a branch of medicine that focuses on preventing work-induced illnesses and injuries and promoting wellbeing in the workplace. It originates from the findings of the 17th century Dr. Bernardino Rammazini, who documented a causal relationship between his mineworker patient's exposure to toxins and their illnesses.
Revenue per employee (RPE) is a financial metric that measures the average profit each employee contributes. Revenue per employee allows organizations to determine the efficiency, productivity, and profitability of each employee and the company as a whole.
Employee orientation is the process of introducing new hires to an organization. Employee orientation aims to give new people all of the information and tools they need to be ready to work with their new team and in their new role.
A payroll cycle is an administrative process of paying employees recurring compensation.
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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