Business: Chapter 9

  1. Human Resources Management (HRM)
    all the activities involved in acquiring, maintaining, and developing an organization's human resources
  2. Human Resources Planning
    the development of strategies to meet a firm's future human resources needs
  3. Replacement Chart
    a list of key personnel and their possible replacements within a firm
  4. Skills Inventory
    a computerized data bank containing information on the skills and experience of all present employees
  5. Cultural (workplace) Diversity
    differences among people in a workforce owing to race, ethnicity, and gender
  6. Job Analysis
    a systematic procedure for studying jobs to determine their various elements and requirements
  7. Job Description
    a list of the elements that make up a particular job
  8. Job Specification
    a list of the qualifications required to perform a particular job
  9. Recruiting
    the process of attracting qualified job applicants
  10. External Recruiting
    the attempt to attract job applicants from outside an organization
  11. Internal Recruiting
    considering present employees as applicants for available positions
  12. Selection
    the process of gathering information about applicants for a position and then using that information to choose the most appropriate applicant
  13. Orientation
    the process of acquainting new employees with an organization
  14. Compensation
    the payment employees receive in return for their labor
  15. Compensation System
    the policies and strategies that determine employee compensation
  16. Wage Survey
    a collection of data on prevailing wage rates within an industry or a geographic area
  17. Job Evaluation
    the process of determining the relative worth of the various jobs within a firm
  18. Comparable Worth
    a concept that seeks equal compensation for jobs requiring about the same level of education, training, and skills
  19. Hourly Wage
    a specific amount of money paid for each hour of work
  20. Salary
    a specific amount of money paid for an employee's work during a set calender period, regardless of the actual number of hours worked
  21. Commission
    a payment that is a percentage of sales revenue
  22. Incentive Payment
    a payment in addition to wages, salary, or commissions
  23. Lump-Sum Salary Increase
    an entire pay raise taken in one lump sum
  24. Profit Sharing
    the distribution of a percentage of a firm's profit among it's employees
  25. Employee Benefit
    a reward in addition to regular compensation that is provided indirectly to employees
  26. Flexible Benefit Plan
    compensation plan whereby an employee receives a predetermined amount of benefit dollars to spend on a package of benefits he or she has selected to meet individual needs
  27. Employee Training
    the process of teaching operations and technical employees how to do their present jobs more effectively and efficiently
  28. Management Development
    the process of preparing managers and other professionals to assume increased responsibility in both present and future positions
  29. Performance Appraisal
    the evaluation of employees' current and potential levels of performance to allow managers to make objective human resources decisions
Card Set
Business: Chapter 9
Business: Chapter 9