HR Concepts and Terms Every Professional Must Know

HR management isn’t easy by any stretch of the imagination, as professionals have to be well versed with appropriate verbiage and need to ensure that they have a certain grasp of information. With the broadening horizons of the HR world, it is even more important for professionals to know the changing terms and concepts.

In this article, we mention some of the key concepts and terms that every professional in the HR world should know of. Go through these concepts and establish your knowledge over some of the most critical concepts in HR.

Engagement

Engagement is the holy grail of HR and is related to higher productivity, higher quality, fewer defects, lower turnover, and lower absenteeism. Employee engagement is considered as the antidote to burnout, as it establishes a connection between management and employee and helps reinvigorate the passion within employees. HR departments put a lot of emphasis on employee engagement because of the tangible and intangible benefits it can have.

Strategic Human Resource Management

The idea of strategic human resource management originates from human resource strategy. Strategic human resource management was first popularized during the early 2000s. The HR department plays a strategic role today, and HR advisors contribute to tactical and strategic levels of the organization’s growth curve.

The goal of strategic HRM is to align the objectives of the organization with its activities. When done the right way, SHRM can help organizations reach their goals and experience growth.

HR Analytics

The data revolution around us today has highlighted the importance of HR analytics even further. HR analytics are derived from key data sources and help highlight the importance of strategizing. Using analytics, HR departments can manage people in a strategic manner and derive positive results from it. Many companies have been able to save significant costs in turnover and productivity through analytics.

Employee Turnover

Employee turnover is next on our list and might sound simple to many, but it is a complicated HR term. Turnover doesn’t necessarily have to be good or bad. Turnover can be broken down into un-regretted and regretted losses. Desired turnover happens when a bad performer leaves and undesired turnover happens when a good performer leaves.

Applicant Tracking System

An applicant training system or an ATS is a human resource information system or HRIS aimed at fulfilling hiring needs and handling recruitment. An ATS is run through a unified CRM for recruitment purposes. The ATS is used to search for profiles and then to track the process.

At JS Benefits Group, we can help discuss and identify the ways to improve your understanding of these key HR concepts. Get in touch with us to know more about what we offer and how we can help you.