MS-201 Human Resource Management Vocabulary

Vocabulary flashcards covering core concepts, terms, and syllabus components for MS-201 Human Resource Management.

Human Resource Management (HRM)

The management function responsible for equipping students and professionals with skills to manage people alongside capital, material, information, and knowledge assets in an organization.

Strategic HRM

An approach to Human Resource Management that integrates organizational strategy and long-term goals into HR policies, role structures, and workforce planning.

Global HRM

The practice and management of human resources across international borders, addressing global workplace challenges, diverse cultural contexts, and international labor standards.

Personnel Management

An administrative management function primarily focused on staff recruitment, employee administration, and transactional labor relations, distinct from HRM and HRD.

Human Resource Development (HRD)

A framework for enabling continuous learning, skill development, and career advancement of employees within an organization.

Human Resource Policies

Formulated guidelines and essential principles established by an organization to govern employee handling, HR procedures, and workplace practices.

Human Resources Planning (HRP)

The systematic process of forecasting an organization's future human resource needs and determining strategies to meet them while considering limiting factors.

Job Analysis

The process of gathering and analyzing detailed information about job duties, responsibilities, necessary skills, and work environment to enable manpower estimation.

Job Description

A written document detailing the specific tasks, duties, responsibilities, and working conditions associated with a particular job role.

Job Specification

A statement outlining the essential qualifications, skills, knowledge, and physical or mental attributes required for a person to perform a job.

Performance Appraisal

The systematic evaluation of an employee's job performance and contributions to the organization according to predefined procedures and techniques.

360 Degree Performance Appraisal

A comprehensive performance evaluation technique where feedback is collected from multiple sources, including supervisors, peers, subordinates, and self-assessment.

Job Evaluation

A systematic process to determine the relative worth of different jobs within an organization to ensure fair pay structures.

Minimum Wage

The lowest baseline wage rate set under wage policy in India to ensure workers can afford basic subsistence needs.

Fair Wage

A wage level above the minimum wage that factors in the financial capacity of the employer, industry standards, and prevailing market rates.

Living Wage

A wage level that enables a worker to afford a comfortable standard of living, including health, education, and social security.

Fringe Benefits

Non-monetary or supplementary benefits provided to employees in addition to standard salary and wage compensation.

Lay-off

A temporary or permanent separation of employment initiated by the employer due to business downturns, lack of materials, or operational issues.

Retrenchment

The termination of an employee's service by an employer due to surplus labor or downsizing, distinct from disciplinary dismissal or voluntary retirement.

Voluntary Retirement Scheme (VRS)

A scheme offering financial benefits and incentives to employees who voluntarily choose early retirement before their official age of superannuation.

Grievance Handling Procedure

A formal step-by-step process established by an organization to address and resolve individual employee complaints or dissatisfactions.

Industrial Relations

The collective study and management of relations, conflict resolution, and interactions between workers, trade unions, management, and government bodies.

Just-In-Time (JIT)

An operational management concept aimed at increasing efficiency and reducing waste by receiving goods or executing steps only as they are needed.

Total Quality Management (TQM)

An organization-wide management approach focused on continuous process improvement and delivering high quality in all organizational operations.

Kaizen

A continuous improvement management concept based on making small, incremental positive changes to enhance workplace processes and quality.

Quality Circles

Small voluntary groups of employees who meet regularly to discuss, analyze, and solve work-related problems and operational quality issues.