AICE Business Chapter 10 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 aheat 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

dA 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