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Employee Value Proposition
The employee value proposition (EVP) is a part of employer branding, in that it is one of the ways companies attract the skills and employees they desire and keep them engaged. It is how companies market themselves to prospective talent, and also how they retain that talent in a competitive job market. The EVP is meant to communicate the values and culture of the organization, as well as take the focus off remuneration as the sole reason for working there. The benefits, when done correctly, are a more committed, happier, and productive workforce at a cheaper cost, which are the main goals of any employee-centered strategy. It may also have the side benefit of improving the company's perception in the eyes of consumers. Descriptions Minchington (2005) defines an employer value proposition (EVP) as a set of associations and offerings provided by an organization in return for the skills, capabilities and experiences an employee brings to the organization. The EVP is an employee-cente ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employer Branding
Employer brand is branding and marketing the entirety of the employment experience. It describes an employer's reputation as a place to work, and their employee value proposition, as opposed to the more general corporate brand reputation and value proposition to customers.Barrow, S. and Mosley, R. ''The Employer Brand, Bringing the Best of Brand Management to People at Work'', John Wiley & Sons, Chichester.Mosley, R. (2015) Harvard Business Review. The term was first used in the early 1990s, and has since become widely adopted by the global management community.Minchington, B (2010) Employer Brand Leadership – A Global Perspective, Collective Learning Australia. Minchington describes employer brand as "the image of your organization as a 'great place to work' in the mind of current employees and key stakeholders in the external market (active and passive candidates, clients, customers and other key stakeholders). The art and science of employer branding is therefore concerned w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Workforce Planning
Human resource management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives. Human resource management is primarily concerned with the management of people within organizations, focusing on policies and systems. HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and reward management, such as managing pay and employee benefits systems. HR also concerns itself with organizational change and industrial relations, or the balancing of organizational practices with requirements arising from collective bargaining and governmental laws. The overall purpose of human resources (HR) is to ensure that the organization can achieve success through people. HR professio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Retention
Employee retention is the ability of an organization to retain its employees and ensure sustainability. Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organization kept 80% of its employees in a given period). Employee retention is also the strategies employers use to try to retain the employees in their workforce. A distinction should be drawn between low-performing employees and top performers, and efforts to retain employees should be targeted at valuable, contributing employees. Employee turnover is a sign of deeper issues that have not been resolved, which may include low employee morale, absence of a clear career path, lack of recognition, poor employee-manager relationships or many other issues. A lack of job satisfaction and commitment to the organization can also cause an employee to withdraw and begin looking for other opportunities. Pay sometimes plays a smaller role in inducing turnover as i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Recognition
Employee recognition is the timely, informal or formal acknowledgement of a person's behavior, effort, or business result that supports the organization's goals and values, and exceeds their superior's normal expectations. Recognition has been held to be a constructive response and a judgment made about a person's contribution, reflecting not just work performance but also personal dedication and Employee engagement, engagement on a regular or ad hoc basis, and expressed formally or informally, individually or collectively, privately or publicly, and monetarily or non-monetarily (Brun & Dugas, 2008). Theoretical foundation The track of scientific research around employee recognition and motivation was constructed on the foundation of early theories of behavioral science and psychology. The earliest scientific papers on employee recognition have tended to draw upon a combination of needs-based motivation (for example, Herzberg 1966; Maslow 1943) theories and reinforcement theory (M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salary
A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. Salaries are typically determined by comparing market pay-rates for people performing similar work in similar industries in the same region. Salary is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is also affected by the number of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compensation And Benefits
Compensation and benefits refer to remuneration provided by employers to employees for work performed. Compensation is the direct monetary payment received for work, commonly referred to as wages. It includes various financial forms such as salary, hourly wages, overtime pay, sign-on bonuses, merit and retention bonuses, commissions, incentive or performance-based pay, and restricted stock units (RSUs). Benefits refer to non-monetary rewards offered by employers, which supplement base pay and contribute to employee well-being and satisfaction. These benefits may include health insurance, income protection, retirement savings plans, paid time off (PTO), flexible work arrangements (remote, hybrid), health savings accounts (HSA), dependent care assistance, transit benefits, continuing education subsidies, childcare support, work-from-home stipends, meal reimbursements, and employee recognition programs. Benefits, often referred to as indirect compensation, are provided to employees ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Relocation Services
Relocation services, employee relocation, military permanent change of station (PCS) or workforce mobility include a range of internal business processes to transfer employees, their families, and/or entire departments of a business to a new location. Like other types of employee benefits, these processes are usually administered by human resources specialists within a corporation. In the military, these processes are administered by the Transportation Management Office (TMO) and Personal Property Shipping Office (PPSO). Such business processes can include domestic residential services where an employee moves within a country or state as well as international relocation services which include planning for diplomats, managers, etc. working abroad. An agency providing relocation services directs and manages the process of relocation including arranging necessary documents ( visa, long-term stay permissions), finding a new house ( accommodation), finding a school for children (educa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Benefit
Employment is a relationship between two party (law), parties Regulation, regulating the provision of paid Labour (human activity), labour services. Usually based on a employment contract, contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wage, wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuity, gratuities, bonus payments or employee stock option, stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, and disability insurance. Employment is typically governed by Labour law, employment laws, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Career Development
Career development refers to the process an individual may undergo to evolve their occupational status. It is the process of making decisions for long term learning, to align personal needs of physical or psychological fulfillment with career advancement opportunities. Career Development can also refer to the total encompassment of an individual's work-related experiences, leading up to the occupational role they may hold within an organization. Career development can occur on an individual basis or an organizational level. Career development planning On an individual basis, career planning encompasses a process in which the individual is self-aware of their personal needs and desires for fulfilment in their personal life, in conjunction with the career they hold. While every person's experiences are unique, this contributes to the different careers that people will acquire over their lifespan. Long-term careers Careers that are long-term commitments throughout an individual's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Motivation
Motivation is an mental state, internal state that propels individuals to engage in goal-directed behavior. It is often understood as a force that explains why people or animals initiate, continue, or terminate a certain behavior at a particular time. It is a complex phenomenon and its precise definition is disputed. It contrasts with #Amotivation and akrasia, amotivation, which is a state of apathy or listlessness. Motivation is studied in fields like psychology, neuroscience, motivation science, and philosophy. Motivational states are characterized by their direction, Motivational intensity, intensity, and persistence. The direction of a motivational state is shaped by the goal it aims to achieve. Intensity is the strength of the state and affects whether the state is translated into action and how much effort is employed. Persistence refers to how long an individual is willing to engage in an activity. Motivation is often divided into two phases: in the first phase, the indi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Recognition
Employee recognition is the timely, informal or formal acknowledgement of a person's behavior, effort, or business result that supports the organization's goals and values, and exceeds their superior's normal expectations. Recognition has been held to be a constructive response and a judgment made about a person's contribution, reflecting not just work performance but also personal dedication and Employee engagement, engagement on a regular or ad hoc basis, and expressed formally or informally, individually or collectively, privately or publicly, and monetarily or non-monetarily (Brun & Dugas, 2008). Theoretical foundation The track of scientific research around employee recognition and motivation was constructed on the foundation of early theories of behavioral science and psychology. The earliest scientific papers on employee recognition have tended to draw upon a combination of needs-based motivation (for example, Herzberg 1966; Maslow 1943) theories and reinforcement theory (M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
