Considering the fast-paced business environment, HR practitioners can hardly remain just mere administrators-any longer. They are strategic partners who, with the right management of people, bring about organizational success. To function well in a complex environment, an HR manager must be fluent in the language of modern HR practices. This glossary attempts to cover the gamut of essential HR terms that any HR manager should know to enhance leadership capacity and help nurture organizational growth.
1. Employee Value Proposition (EVP)
The Employee Value Proposition, or EVP, is the entire range of benefits and values an organization offers an employee in return for the application of their skills, capabilities, and experiences. The stronger the EVP is, the more it attracts and retains talents by clearly articulating why the organization should be deemed an employer of choice.
2. Workforce Planning
Workforce Planning is the strategic activity of summarizing and forecasting the talent needs of an organization to make certain it has the right people at the right time, equipped with the right competencies. This means assessing the present workforce capacity, predicting that which will be required in the future, and finding ways of filling the gaps that might arise.
3. Competency Framework
A competency framework lays out the skills, behaviors, and attitudes that employees need to display in order to perform their jobs satisfactorily. The framework becomes a basis for designing various HR practices such as recruitment, performance management, and learning and development, with all of them aligned with the state of organizational development.
4. Succession Planning
The process of succession planning involves identifying and grooming internal employees to assume key leadership positions at some future time. This also allows enterprises to ensure smooth functioning without disruption from sudden quits, through appointments, and/or smooth handover from retirements.
5. Employee Engagement
Employee Engagement is an extent to which an employee feels emotionally committed towards their organization and its goals. These enrolment faculty and industrially productive employees are who engage customers well and contribute to the greatness of the organization’s growth.
6. Diversity, Equity, and Inclusion (DEI)
DEI is all about formulating policies and implementing practices that enable representation and participation of disparate groups of people, including different age brackets, races, genders, abilities, and backgrounds. An inclusive culture accelerates innovative thinking, employee happiness, and organizational success.
7. Change Management
Change Management involves the systematic method to manage organizational change at both the organization and individual levels. Efficient change management tries to see that the employees go through transitions smoothly with minimum resistance and maximum engagement.
8. Total Rewards
Total Rewards is a wide employee compensation strategy comprising salary, member care, work-home life integration, appreciation, and career progression. A fair total rewards strategy can attract, motivate, and retain employees.
9. Employer Branding
Employer branding is the process whereby a company promotes itself as the employment of choice to a target audience that it seeks to desire, attract, recruit, and retain. When done well, an employer brand aids in talent acquisition and assists in gaining goodwill in the employment market.
10. Organizational Development (OD)
Organizational development is a comprehensive approach for planned interventions into processes, structures, and culture of an organization to improve organizational effectiveness. It places great emphasis on OD initiatives to develop a company’s ability to handle internal and external changes and, hence, its overall performance.
11. Psychological Safety
Psychological safety is an environment where employees feel at ease to express thoughts, raise concerns, or admit to mistakes without being subjected to criticism or punishment. Such an atmosphere paves the way for conversation, innovation, and collaboration on teams.
12. Employee Lifecycle
The Employee Lifecycle highlights all phases an employee goes through with an organization, from attraction and recruitment to orientation, development, retention, and separation. When understood, an HR professional will design suitable strategies for each stage.
13. People Analytics
People Analytics is the application of data analysis methods to better understand, improve, and optimize the human side of business. Through analysis of employee data, HR can make better decisions about hiring, development, retention, and workforce planning.
14. Remote Work Policy
Remote Work Policies are the rules and regulations set by any organization for employees working remotely outside the normal office hours. In the world of varying work schedules, policies will uphold consistency, efficiency, and adherence to all legal requirements across the company.
15. Employee Advocacy
The term Employee Advocacy refers to the promotion of an organization by employees. When employees promote positive experiences and content about their company back home, it increases the brand image, aids talent acquisition, and helps build the brand.
Conclusion
HR managers need to keep up with the core HR keywords and concepts or with leadership changes in an ever-changing work environment. The knowledge and application of these terms will assist HR in outlining strategic initiatives toward organizational and workplace culture excellence.
At Doinsights, we want to empower HR professionals with the tools and know-how necessary to get the job done. The kind of HRMS solutions we offer take away the burden of carrying the more trivial processes while encouraging employee engagement and strategic decision-making. Take a tour of our platform to see how we’re going to take your HR to the next level.
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