Demystify the Jargon Permeating Talent Management Organization
Talent management professionals across the globe use multitudes of industry terminologies. Though it may sound similar, they have nuanced differences. Being an employee of the organization, it is critical to understand these terms as you keep interacting with HR professionals often regarding your career-pathing, promotion, benefits, leave policies, and other HR-related processes.
To make your job easy, here is a compilation of hiring languages used by talent management professionals. If you are a newbie to the HR profession, then this might help you to revisit and refresh your knowledge.
The terminologies included here starts right from your application process to exit interview in an organization.
👉Human Capital Management:
It is a strategic set of practices involved while managing the organization’s workforce. It identifies the effective use of the workforce.
👉Application process:
It involves a series of steps taken by the professional until the first interview after receiving an application from a candidate.
👉Collaborative recruiting:
It is a type of recruitment generally seen in career fairs where there is a cooperative involvement of team members in the hiring process. A pair or group of people with different skills present in front of applicants. This reduces employee turnover rate.
👉Hiring process:
From an employer’s perspective, it involves all the processes beginning from receiving an application, screening, shortlisting, testing candidates to interview, and obtaining information about the candidate in records until the candidate starts working legally with the company.
👉Offer letter:
It is a formal document given to a candidate offering a job position upon selection.
👉Onboarding process:
It is the process that involves the beginning of a new position, receiving and completing training, obtaining skills, and completing duties effectively to fulfill the said position.
👉Digital onboarding:
Digital onboarding is becoming more common given the COVID-19 situation and digital era. Here, the onboarding process like the submission of pdfs, files, and other relevant records are done digitally. It reduces the office material costs, streamlines the process, saves time, and boosts employee onboarding experience.
👉Employee onboarding experience:
It signifies the new employee’s perspective during the onboarding process. It includes the quality of work, satisfaction, stress level, and the time taken to transition into the role and company.
👉Employee socialization:
It involves the period where new employees get accommodated with the company culture, interact with colleagues and management, and takes on their roles and responsibilities.
👉Employee development plan:
It is a customized plan for individual employees to learn and develop skills with reference to current or prospective job roles in an organization.
👉Employee engagement:
It is all about what the employee feels regarding their job, level of commitment they have toward the organization, and the effort employees have for their work.
👉Employee Referral Program (ERP):
It is a method of sourcing where qualified candidates may get hired through a reference from current employees. typically, it involves an offering of reward to the current employee when their referrals get hired.
👉Employee retention:
It’s the organization’s ability and efforts to retain its employees.
👉Employee Turnover:
It includes the number of people who leave an organization and get replaced in a given time. It determines the employee costs.
👉Equal Employment Opportunity Commission (EEOC) Compliant:
It is illegal to discriminate a job applicant or an employee based on race, color, religion, sex, nationality, age, disability, or genetic information as per Federal laws compliance. Further, it is illegal to discriminate a person when the person complains about discrimination or filed a charge of discrimination or participated in an investigation. It applies to all situations like hiring, promotion, training, wages, benefits, and harassment.
👉Fixed-term contract:
When an employee works for a company for a specific period of time under the agreement is known as a fixed-term contract.
👉Passive candidate:
It refers to a candidate who is not seeking a new job at the moment.
👉Performance assessment:
It involves the assessment of an employee’s skills, achievements, growth, and identifies the shortcomings of an employee to encourage further learning.
👉Performance gap:
It indicates the difference between the expected- and actual performance.
👉Performance improvement plan:
It is a formal document designed to identify issues with employees’ past performance and set achievable improvement goals. It allows the underperforming employee to improve along a set timeline without facing any immediate consequences.
👉Professional development:
It refers to career growth through experience, knowledge-seeking, and skill development. Employees develop through certifications, research, projects, and other learning opportunities. Likewise, the talent team also grows through experience, talent management courses, and certification.
👉Stay interview:
Here, the interview is designed to examine why employees continue to work and also to identify why employees want to leave the organization.
👉 Exit interview:
It is the interview taken by the talent team when the candidate exits the organization. It helps the organization to know the reason behind their exit other than personal reasons. It might help to identify any shortcomings in the organization or rehire the candidate in the future.
