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13 Cards in this Set
- Front
- Back
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Competitive advantage |
Doing something differently from the competition that leads to outperformed and success |
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Employee handbooks |
Print or online materials that document the organization's HRM policies and procedures |
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Shared service center |
Centralizes routine, transaction -based HRM activities |
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Outsourcing |
Hiring an external vendor to do work rather than doing it internally |
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Professional employer organization |
A company that leases employees to companies that need them |
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Human resource management |
The organizational function responsible for attracting, hiring, rewarding and retaining talent |
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Total rewards |
The sum of all of the rewards employees receive in exchange for their time, efforts, and performance |
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Direct financial compensation |
Compensation received in the form of salary, wages, commissions, stock options, or bonuses |
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Indirect financial compensation |
All the tangible and financially backed rewards that are not included in direct compensation, including free meals, vacation time, and health insurance |
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Nonfinancial compensation |
Rewards and incentives given to employees that are not financial in nature including intrinsic rewards received from the job itself out from the work environment |
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Business strategy |
Defines how the firm will compete in its marketplace |
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Talent philosophy |
A system of beliefs about how an organization's employees should be treated |
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Human resource strategy |
Human resource strategy links the entire human resource function with the firm's business strategy |
