HR Glossary: Every term you need to know | Page 8 of 11 | HiBob

Employee recognition

What is employee recognition?

Employee recognition is the acknowledgment of an individual's work accomplishment by expressing gratitude or praise. Employers often recognize employees for: Working for an extended period (generally beyond five years)Exemplary work performanceInnovation or achievementsNotable personal developmentWorkforce or system improvement According to Gallup research, employees find these methods of employer recognition highly impactful: Publicly acknowledging employees through praise, an award, or a certificate Private acknowledgment from a boss, coworker, or customerReceiving an extremely positive evaluation regarding accomplishmentsReceiving a monetary award or compensation Earning a promotion, greater autonomy, or increased work responsibilities Why should HR…

Succession planning

What is succession planning?

Succession planning in HR is the process of preparing people for future roles to support continuous business functioning. Succession planning is a long-term, strategic investment that buffers both large and medium-sized businesses against inevitable future disruptions or sudden job vacancies. Usually spanning one to three years, succession planning involves training and educating people so they can assume new positions with confidence and poise.

merit increase process

What is a merit increase process?

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…

COVID-19 workplace policy

COVID-19 workplace policy

COVID-19 workplace policy emphasizes cleanliness, hygiene, health, and social distancing and aim to prevent the spread of COVID-19 in shared office settings. COVID-19 workplace policy is based upon standard recommendations established by each country. The U.S. and U.K. guidelines promote personal hygiene and social distancing in the workplace and remind employees to monitor their health before arriving at work. The workplace rules encourage employees to: Wash hands regularlyWear a protective mask over the nose and mouthWear disposable gloves when in a public areaFollow recommendations for social distancingCheck temperature before going…

Mental health in the workplace

What is mental health in the workplace?

Mental health in the workplace refers to employees' psychological, emotional, and social well-being within a shared work environment. Employees with sound mental health have respect for themselves and others, build positive relationships with coworkers, and cope with the daily challenges and responsibilities involved in the workplace. Why should HR leaders care about mental health in the workplace? Unfortunately, mental health issues are highly prevalent among today's adults, both globally and in the U.S. According to the CDC, 1 in 5 American adults (18.3%) suffer from mental illnesses, and 71% of…

What is e-recruitment?

E-recruitment is the automated process of identifying, attracting, screening, and hiring candidates using online platforms and HR software. This internet recruitment method enables businesses to establish an online presence to connect with candidates. E-recruitinginvolves different sourcing methods such as: Attracting candidates through a company career page Using job boards to advertise vacanciesIncorporating job aggregator sites (job search engines) to consolidate job advertisements from throughout the web Advertising on social media sitesFinding relevant online resumes through search engine optimization (SEO) Cloud-based HR software also contributes to effective e-recruitment through selecting and tracking candidates…

HR business partner

What is an HR business partner?

An HR business partner (HRBP) is a senior HR professional who collaborates with executives to facilitate alignment between business objectives and HR strategy. An HR business partner represents the HR department to executives, contributing valuable people solutions to drive positive business outcomes. HR influencer Josh Bersin discusses the essential competencies of a high-caliber HRBP, which include: IntegrityAgilitySocial networking skillsKnowledge of the business and its jargon Digital competency and data analysisCourage and leadership Empathy Critical thinkingProblem-solving Sandy Allgeier, SPHR, refers to HR business partners as “internal consultants” because they advise managers and executives on…

What are company perks?

Company perks are perquisites that employers provide employees to assist them in maintaining high productivity and performance levels. Employee benefits, such as health care, retirement, and investment plans, are essential components of compensation. Perks, in contrast, encompass the non-essential, supplementary aspects of the job to improve the employee experience and boost productivity. Popular company perks include: A company car that doubles as a personal vehiclePaid time off or sabbatical leave Weekly happy hourOnsite childcare Shopping, cinema, or travel discountsFlexible working conditionsOnsite catering or lunch vouchers Why should HR leaders care about company…

What is redundancy pay?

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…

maternity leave

What is maternity leave?

Maternity leave is time-off that an employer provides an employee upon giving birth to a child. Maternity leave can start before or after birth, enabling the mother to take time off for prenatal and post-natal care. Mothers need time to recuperate, adjust to the monumental life change, and bond with their new child. Why should HR leaders care about maternity leave? A supportive maternity leave policy can contribute to retention, engagement, productivity, and loyalty, reflecting company compassion and consideration for employee wellbeing. If companies offered a more accommodating maternity leave,…

Change management model

What is a change management model?

A change management model is a system that strategically assists companies in navigating through periods of transformation and transition. Change management models help organizations successfully undergo transitions that lead to positive outcomes. Kurt Lewin's model, for example, involves a three-step process of change that: Encourages employees to "unfreeze" and release their connection to the status quoSupports acceptance of new practices Assists employees in remolding, "refreezing," and reinforcing the new ways Why should HR leaders care about change management models? Employees must demonstrate resilience and a readiness to adapt to change if…

What is cost per hire?

Cost per hire (CPH) is a recruitment metric that companies use to determine the expense of each stage of the hiring process. The American National standards institute developed this formula to calculate cost per hire: (External recruiting cost + internal recruiting cost)/ (Total number of hires during the period) Organizations can benefit from CPH when using it with other essential metrics such as turnover rate, first-year attrition, retention rate, quality of hire, and time to hire. Why should HR leaders care about cost per hire? Planning, creating job descriptions, promoting…

New Hire probationary period

What is a new hire probationary period?

A new hire probationary period is the first stage of employment, during which an employee receives on-the-job training and professional guidance. Usually spanning three to six months and starting on the employee’s first day, the probationary period is an opportunity for the employee and employer to make sure they are a good fit. Why should HR leaders care about the new hire probationary period? The new hire probationary period increases the probability of hiring and keeping high-quality, appropriate candidates. This trial period can be likened to dating, allowing the employer…

Statutory sick pay

What is statutory sick pay?

Statutory sick pay (SSP) is a U.K.-government mandated compensation that employers pay to employees who are too ill to work. SSP regulations require employers to pay a minimum of £95.85 per week for a maximum of 28 weeks. According to U.K. labor laws, to qualify for SSP, an employee must: Have an employment contract Earn on average £120 per weekShow signs of illness for at least four consecutive non-working daysBe in coronavirus self-isolation or shielding due to high-risk health factors The U.K. instituted statutory sick pay in 1982 to ensure that…

Mindfulness in the workplace

What is mindfulness in the workplace?

Mindfulness in the workplace is an awareness of thoughts, emotions, and actions that enables an objective, collected approach to accomplishing tasks. People tend to distractedly multi-task to cope with their numerous obligations. Mindfulness offers employees a way to prioritize tasks, concentrate on performing them well, and maintain calm through it all. Why should HR leaders care about mindfulness in the workplace? Mindfulness is a free tool that every employee can utilize, helping to: Reduce stressMinimize distractionBuild positive work relationships Boost happiness, wellbeing, and purposeIncrease productivity and innovation Mindfulness empowers employees to…