Human resource managementHuman resource management (HRM or HR) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives. Human resource management is primarily concerned with the management of people within organizations, focusing on policies and systems.
Organizational cultureHistorically there have been differences among investigators regarding the definition of organizational culture. Edgar Schein, a leading researcher in this field, defined "organizational culture" as comprising a number of features, including a shared "pattern of basic assumptions" which group members have acquired over time as they learn to successfully cope with internal and external organizationally relevant problems. Elliott Jaques first introduced the concept of culture in the organizational context in his 1951 book The Changing Culture of a Factory.
Turnover (employment)In human resources, turnover is the act of replacing an employee with a new employee. Partings between organizations and employees may consist of termination, retirement, death, interagency transfers, and resignations. An organization’s turnover is measured as a percentage rate, which is referred to as its turnover rate. Turnover rate is the percentage of employees in a workforce that leave during a certain period of time. Organizations and industries as a whole measure their turnover rate during a fiscal or calendar year.
OnboardingOnboarding or organizational socialization is the American term for the mechanism through which new employees acquire the necessary knowledge, skills, and behaviors to become effective organizational members and insiders. In standard English, this is referred to as "induction". In the United States, up to 25% of workers are organizational newcomers engaged in onboarding process. Tactics used in this process include formal meetings, lectures, videos, printed materials, or computer-based orientations that outline the operations and culture of the organization that the employee is entering into.
Job analysisJob analysis (also known as work analysis) is a family of procedures to identify the content of a job in terms of the activities it involves in addition to the attributes or requirements necessary to perform those activities. Job analysis provides information to organizations that helps them determine which employees are best fit for specific jobs. The process of job analysis involves the analyst gathering information about the duties of the incumbent, the nature and conditions of the work, and some basic qualifications.
Industrial and organizational psychologyIndustrial and organizational psychology (I-O psychology) is the science of human behavior in the workplace and work-life interface. It is an applied discipline within psychology. Depending on the country or region of the world, I-O psychology is also known as occupational psychology in the United Kingdom, organisational psychology in Australia and New Zealand, and work and organizational (WO) psychology throughout Europe and Brazil. Industrial, work, and organizational (IWO) psychology is the broader, more global term for the science and profession.
OutsourcingOutsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and assets from one firm to another. The term outsourcing, which came from the phrase outside resourcing, originated no later than 1981. The concept, which The Economist says has "made its presence felt since the time of the Second World War", often involves the contracting out of a business process (e.
Human resourcesHuman resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include manpower, labor, personnel, associates or simply: people.
Personnel selectionPersonnel selection is the methodical process used to hire (or, less commonly, promote) individuals. Although the term can apply to all aspects of the process (recruitment, selection, hiring, onboarding, acculturation, etc.) the most common meaning focuses on the selection of workers. In this respect, selected prospects are separated from rejected applicants with the intention of choosing the person who will be the most successful and make the most valuable contributions to the organization.
BusinessBusiness is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions.
