AICE Business Unit 2 Vocab

Human Resources Management (HRM)

The strategic approach to the effective management of employees so that they help the business gain a competitive advantage

Workforce Planning

Thinking ahead about the number of workers needed for a business

Workforce Audit

A check on the skills and qualifications of all existing workers/managers

Labour Turnover

Measures the rate at which employees are leaving an organisation

Recruitment

The process of identifying the vacancy, defining the job requirements and the person needed, and attracting candidates

Selection

The series of steps by which candidates are interviewed, tested, and screened to choose the most suitable person for the vacant post

Recruitment Agency

A business that offers the service of recruiting applicants for the vacant post

Job Description

A detailed list of the key points about the job that has to be filled, stating the tasks and responsibilities.

Person Specification

A detailed list of the qualities, skills, and qualifications that a successful applicant to have

Application Form

A set of questions answered by a job applicant to give a potential employer info about the applicant.

Curriculum Vitae (CV)

A detailed document stating a person’s professional and academic achievements, experience, and awards.

Resume

A less detailed document than a CV that states work experience, educational background, and special skills needed for the job

Reference

A comment from a trusted person about an applicants character or performance

Assessment Center

A place where a range of tests are useed to judge applicants on their ability to perform a role.

Internal Recruitment

When a business fills its vacancy within its existing workforce

External Recruitment

A business fills a vacancy with an applicant outside the business

Employment Contract

A legal document that states the terms and conditions governing a workers’ job.

Redundancy

When a job is no longer required, neither is the employee, through no fault of their own

Dismissal

Fired from a job due to incompetence or breach of contract

Unfair Dismissal

Ending a worker’s employment contract for a reason that the law regards as unfair

Employee Morale

Overall outlook, attitude, and level of satisfaction of employees when at work.

Employee Welfare

Employee’s health, safety, and level of morale when at work

Work-Life Balance

Employees can allocate time and effort to work and their personal life

Equality Policy

Actions aimed at achieving a fair organisation where everyone is treated equal

Diversify Policy

Practices and processes aimed at created a mixed workforce and valuing diversity

Training

Work related to education to increase workforce skills and efficiency

Induction Training

Introductory training to familiarise new recruits with the systems and layouts of a business

On-The-Job Training

Intructions at the workplace on how a job should be completed

Off-The-Job Training

Training undertaken away from the workplace

Multi-Skilling

The training of an employee in several skills for greater flexability

Employee Appraisal

The process of assessing the effectiveness of an employee does against pre-set objectives

Industrial Action

Measures taken by the workforce or trade union to put pressure on management to settle an argument

Collective Bargaining

The process of negociating terms of employment between an employer and group of employees who are usually represented by a trade union official 

Trade Union Recognition

When an employer agrees ot negociate with a trade union

Motivation

The internal and external factors that stimulate the desire in workers to be continually interested and committed to doing a job well.

Piece Rate

Payment to a worker for each unit produced

Self Actualisation

A sense of self fulfilment reached by feeling enriched and developed by what one has learned and achieved

Hygiene Factors

Things at someone’s job that can cause dissatisfaction

Motivators

Things at someone’s job that lead to satisfaction

Job Enrichment

Aims to use the full capabilities of workers by allowing them to do more challenging and fulfilling work

Time-Based Wage Rate

Payment to a worker made for each period of time worked

Salary

Annual income that is usually paid on a monthly basis

Commission

A payment to a salesperson for each sale made

Bonus

A payment made in adddition to the contracted wage

Performance-Related Pay

A bonus to reward employees for above average work performance

Profit Sharing

A bonus based off the profits of a business, usually paid as a proportion of basic salary

Share-Ownership Scheme

A scheme that give employees shares in the business or the ability to buy them at a discount

Fringe Benefits

Benefits given that are separate from pay by an employer to some or all employees

Job Rotation

A scheme that allows employees to switch from one job to another

Job Enlargement

An attempt to increase the scope of a job by broadening or deepening its tasks

Job Redesign

The restructuring of a job to make the work more interesting, satisfying, and challenging

Development

The gaining of new or advanced skills and knowledge as well as opportunities to apply what is gained

Employee Promotion

The advancement of an employee within a business to a higher level of responsibility and status

Employee Status

The level of recognition offered by an employer to a worker in terms of pay, level of responsibility, and benefits

Employee Participation

Active encouragement of employees to become involved in decision-making within an organization

Teamworking

Production is organised so that groups of workers undertake complete units of work

Empowerment

The giving of skills, resources, and authority to employees so that they can make decisions and take accountability for their work

Qualty Circle (QC)

A voluntary group of workers who meet regularly to discuss and resolve work-related problems

Manager

The person responsible for setting objectives, organising resources, and motivating workers so that the objectives of the business are met

Management

The organisation and coordination of activities to achieve the objectives of the business

Autocratic Management

A management style where one manager makes all the decisions with little input from others

Democratic Management

A management style that encourages the active participation of workers in decision making

Paternalistic Management

A management style based on the view that the manager is in a better position than the workers to know what is best for an organisation

Laissez-Faire Management

A management style that leaves most of the decision-making to the workers

Theory X

A view that some managers believe that their workers dislike work, avoid responsibility, and aren’t creative

Theory Y

The view that some managers have that their workers enjoy work, accept responsibility, and are creative