Definition: Job evaluation can be defined as the method for estimating the monetary value of any job position. It takes into consideration the various elements which make a particular job worthful, i.e., the skills, experience, expertise, knowledge and training required for accomplishing the assigned tasks. In other words, we can presume job evaluation as a … Read more
Definition: Intrapreneurship is composed of ‘intra’ and ‘preneurship’; where intra refers to an integral part, preneurship is to take charge of something. Thus, intrapreneurship is a practice of nurturing the entrepreneur that hides within an employee by initiating and turning his/her idea into a real project for organizational growth. An intrapreneur is an intellectual employee … Read more
Definition: Human resource planning (HRP) is a systematic approach to ensure the best possible utilization of the company’s manpower. It is an ongoing process of analyzing the organization’s manpower availability, forecasting personnel demand, evaluating the gap and framing relevant strategies. HRP is all about keeping a check over the shortage or surplus of the organizational … Read more
You may say that termination is termination, then how can furlough and layoff be distinct from one another? There is a major dissimilarity between these two forms of employee termination. When furlough refers to the dismissal of an employee from the job, for the time being, a layoff is usually a lifetime suspension of any … Read more
Definition: Social loafing is a human resource loophole that signifies the adverse mentality of a minority of individuals in an organization. Social loafers deliberately under-perform a given task by not exhibiting their highest potential while working in a team. Some are the free-riders who are social loafers from the very beginning. While the others are … Read more
Definition: Management By Objectives (MBO) is a participative approach whereby the management and the employees collaboratively frame the short-term and long-term business objectives with a deadline, by actively centralizing the key result areas (KRA). Also, every individual in support of the management determines his/her targets, tasks, roles, responsibilities, obligations and accountability. MBO so sets a … Read more
Definition: Career pathing is the process of developing a blueprint for the employee’s growth within an organization. A career path guides the employees to do nourish their position in the organization by figuring out their potential, knowledge and expertise; enlisting future growth prospectives; directing them towards skill development for the same. It can be seen … Read more
Offshoring is mostly replaced by the term outsourcing, while the two are unconditionally different from one another. When in offshoring the business or the company is set up in a new cross border location; in outsourcing, the partial business process or tasks are assigned to a third-party under a contract. However, there is a term, … Read more
Definition: Job shadowing is a means of learning about the tasks, roles, responsibilities, career prospects and challenges of a certain job position that fascinates the visitor. It can be a short few hours session or a week-long activity where the guest shadows or follows the host who is a professional or holds a particular job … Read more
Definition: Strategic human resource management (SHRM) is a managerial tool used to reform the company’s human capital such that it is in synchronization with the organizational goals and vision. It is a far-sighted approach where the strategic decision-makers analyze the company’s manpower potential and balance it with the future requirement. Globalization has extended the corporate … Read more