Glossary

What is an employee wellness program?

An employee wellness program is a benefits system designed to help personnel maintain physical, emotional, and mental health. A wellness program should aim to provide an array of creative options that enable employees to nurture their well-being inside or outside the office.  Why should HR leaders care about employee wellness programs? Encouraging staff to address stress and anxiety, maintain a harmonious work-life balance, manage chronic illness, and practice self-care can boost work performance, productivity, engagement, morale, presenteeism, and retention. Moreover, facilitating an effective wellness program can potentially reduce health care…

A notice period is the amount of time between notification of an employee’s departure or dismissal and the employee’s last day at work. The notice period applies to both employees and employers. An employee who intends to resign should inform their employer in advance, and an employer should notify an employee before terminating employment. In the U.S., employment relationships are at-will by default: employers and employees can end the relationship for any legitimate, rightful reason. Because the at-will system can feel insecure, most companies implement employment contracts that define the…

What is Payroll software?

Payroll software is a computer program that automates the payment process for greater efficiency and reliability. The software removes the time-consuming work from HR personnel’s teeming to-do list, reduces error, and guarantees that employees receive correct compensation on-time. Most payroll software offers features such as: Calculating tax withholdings and payment deductionsKeeping track of hours workedPrinting paper checksProcessing digital payments and depositsProviding employee self-services Payroll software enables businesses to comply with complicated government tax regulations, pay employees and independent contractors appropriately, provide efficient, customized payment methods, and offer a user-friendly user…

What is employee engagement?

Employee engagement refers to a professional’s motivation and commitment to perform high-quality work and contribute to company success. Engaged employees exemplify eagerness to perform well, accomplish their tasks, and positively impact the organization.  Why is employee engagement important? Engagement is essential for a healthy, growing, and vibrant company and often indicates company success and employee satisfaction. Engaged team members tend to demonstrate: Increased productivity Quality work  High scoring on performance reviews Presenteeism Resilience Fulfillment from their work Strong work relationships What can HR leaders do to improve employee engagement? HR…

What is learning and development?

Learning and development (L&D) is an HR process that enables employees to upgrade their competencies and thereby strengthen their company’s performance.

What is a sabbatical leave?

A sabbatical leave is a career break, usually between one and three months, that enables employees to pursue personal goals, reflect, and rejuvenate.

What is people analytics?

People analytics is a data-driven method that aims to improve business decisions regarding employees and customers. Rather than solely relying on instinct or anecdotal experience, people analytics provides HR leaders with comprehensive data to make evidence-based, strategic decisions.

What is HR analytics?

HR analytics is a data-driven method of improving decisions that impact HR functions. HR analytics depends on the quality of the data collected from HR metrics, such as:

What is due diligence?

Due diligence is the inspection of a business agreement to assess its integrity and the risks involved. Like preparing homework before an upcoming lesson, exercising due diligence equips the relevant parties with the information they need before entering into a business contract or mutual relationship.

What is workforce analytics?

Workforce analytics is a method of monitoring and examining employees’ work productivity to improve workflow.

What is employee development?

Employee development is a process of educating employees so they can continue providing valuable contributions to their company.

What is performance management?

Performance management is a comprehensive method of tracking employees' work performances and developing their skills so they can contribute optimally to department and company objectives.

What is emotional intelligence in HR?

Emotional intelligence (EQ) is the ability to recognize and regulate emotions effectively.

What is deferred compensation?

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.

What is a 360-degree review?

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.