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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
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] |
Maslow's Hierarchy Of Needs
Maslow's hierarchy of needs is a conceptualisation of the needs (or goals) that motivate human behaviour, which was proposed by the American psychologist Abraham Maslow. According to Maslow's original formulation, there are five sets of basic needs that are related to each other in a hierarchy of prepotency (or strength). Typically, the hierarchy is depicted in the form of a pyramid although Maslow himself was not responsible for the iconic diagram. The pyramid begins at the bottom with physiological needs (the most prepotent of all) and culminates at the top with self-actualization needs. In his later writings, Maslow added a sixth level of 'meta-needs' and metamotivation. The hierarchy of needs developed by Maslow is one of his most enduring contributions to psychology. The hierarchy of needs remains a popular framework and tool in higher education, business and management training, sociology research, Health care, healthcare, Counseling psychology, counselling and social work ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supervisor
A supervisor, or lead, (also known as foreman, boss, overseer, facilitator, monitor, area coordinator, line-manager or sometimes gaffer) is the job title of a lower-level management position and role that is primarily based on authority over laborer, workers or a workplace. A supervisor can also be one of the most senior on the employees at a place of work, such as a professor who oversees a Ph.D. dissertation. Supervision, on the other hand, can be performed by people without this formal title, for example by parents. The term supervisor itself can be used to refer to any personnel who have this task as part of their job description. An employee is a supervisor if they have the power and authority to do the following actions (according to the Ontario Ministry of Labour): # Give instructions and/or orders to subordinates. # Be held responsible for the work and actions of other employees. If an employee cannot do the above, legally, they are most likely not a supervisor, but in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Stock Option
Employee stock options (ESO or ESOPs) is a label that refers to compensation contracts between an employer and an employee that carries some characteristics of Options (finance), financial options. Employee stock options are commonly viewed as an internal agreement providing the possibility to participate in the share capital of a company, granted by the company to an employee as part of the employee's remuneration, remuneration package. Regulators and economists have since specified that ESOs are compensation contracts. These nonstandard contracts exist between employee and employer, whereby the employer has the liability of delivering a certain number of shares of the employer stock, when and if the employee stock options are exercised by the employee. The contract length varies, and often carries terms that may change depending on the employer and the current employment status of the employee. In the United States, the terms are detailed within an employer's "Stock Option A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bonus Payment
A bonus payment is usually made to employees in addition to their base salary as part of their wages or salary. While the base salary usually is a fixed amount per month, bonus payments more often than not vary depending on known criteria, such as the annual turnover, or the net number of additional customers acquired, or the current value of the stock of a public company. Thus bonus payments can act as incentives for Management, managers attracting their attention and their personal interest towards what is seen as gainful for their companies' economic success. There are widely-used elements of pay for performance (human resources), pay for performance and working well in many instances, including when a fair share of an employee's participation in the success of a company is desired. There are, however, problematic instances, most notably when bonus payments are high. When they are tied to possibly short-lived such as an increase in monthly turnover, or cash flow generated from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seniority
Seniority is the state of being older or placed in a higher position of status relative to another individual, group, or organization. For example, one employee may be senior to another either by role or rank (such as a CEO vice a manager), or by having more years served within the organization (such as one peer being accorded greater status over another due to amount of time in). The term "seniority" can apply to either concept or both concurrently. In armed forces In some military command structures, the length of time someone has held a particular rank is called "seniority in grade" and determines whether that person is senior to another person of the same rank. For instance, a captain who was promoted five years ago can give orders to a captain who was promoted three years ago. In politics Seniority in United States politics, when used out of context, is informally defined as the number of years one member of a group has been a part of the group. As of March 2022, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Training And Development
Training and development involves improving the effectiveness of organizations and the individuals and teams within them. Training may be viewed as being related to immediate changes in effectiveness via organized instruction, while development is related to the progress of longer-term organizational and employee goals. While training and development technically have differing definitions, the terms are often used interchangeably. Training and development have historically been topics within adult education and applied psychology, but have within the last two decades become closely associated with human resources management, talent management, human resources development, instructional design, human factors, and knowledge management. Skills training has taken on varying organizational forms across industrialized economies. Germany has an elaborate vocational training system, whereas the United States and the United Kingdom are considered to generally have weak ones. History Aspe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Socialization
In sociology, socialization (also socialisation – see American and British English spelling differences#-ise, -ize (-isation, -ization), spelling differences) is the process of Internalisation (sociology), internalizing the Norm (social), norms and Ideology, ideologies of society. Socialization encompasses both learning and teaching and is thus "the means by which social and Culture, cultural continuity are attained".Clausen, John A. (ed.) (1968) ''Socialisation and Society'', Boston: Little Brown and Company Socialization is strongly connected to developmental psychology and behaviourism. Humans need social experiences to learn their culture and to survive. Socialization essentially represents the whole process of learning throughout the life course and is a central influence on the behavior, beliefs, and actions of adults as well as of children. Socialization may lead to desirable outcomes—sometimes labeled "Morality, moral"—as regards the society where it occurs. Indiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Realistic Job Preview
Realistic job preview (RJP) is a tool companies and organizations use as a way to communicate the good and the bad characteristics of the job during the hiring process of new employees, or as a tool to reestablish job specificity for existing employees. Realistic job previews should provide the individuals with a well-rounded description that details what obligations the individual can expect to perform while working for that specific company. Descriptions may include, but are not limited to, work environment, expectations, and company policies (rules, restrictions). Purpose At the heart of realistic job previews are the employee exchange or psychological contract between employer and employee. By being hired after use of the RJP, the employee enters the contract aware of what the organization will provide to them (pay, hours, schedule flexibility, culture, etc.) as well as what will be expected from them (late hours, stress, customer interaction, high urgency, degree of physica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Recruitment
Recruitment is #Process, the overall process of identifying, sourcing, screening, shortlisting, and interviewing candidates for Job (role), jobs (either permanent or temporary) within an organization. Recruitment also is the process involved in choosing people for Unpaid work, unpaid roles. Management, Managers, human resource generalists, and recruitment specialists may be tasked with carrying out recruitment, but in some cases, Public sector, public-sector employment, commercial Employment agency, recruitment agencies, or specialist search consultancies such as Executive search in the case of more senior roles, are used to undertake parts of the process. Internet-based recruitment is now widespread, including the use of Artificial intelligence in hiring, artificial intelligence (AI). Process The recruitment process varies widely based on the employer, seniority and type of role and the industry or sector the role is in. Some recruitment processes may include; * Job analysis f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Work–life Balance
In the intersection of Employment, work and personal life, the work–life balance is the equilibrium between the two. There are many aspects of one's personal life that can intersect with work, including family, leisure, and health. A work–life balance is bidirectional; for instance, work can interfere with private life, and private life can interfere with work. This balance or interface can be adverse in nature (e.g., Work–family conflict, work–life conflict) or can be beneficial (e.g., work–life enrichment) in nature. Recent research has shown that the work-life interface has become more boundary-less, especially for technology-enabled workers. Dominant theories of the relationship Several theories explain different aspects of the relationship between work and family life. Boundary theory and border theory are the two fundamental theories that researchers have used to study these role conflicts. Other theories are built upon the foundations of these two theories. In the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flexible Work Arrangements
A flexible work arrangement (FWA) empowers an employee to choose what time they begin to work, where to work, and when they will stop work. The idea is to help manage work-life balance and benefits of FWA can include reduced employee stress and increased overall job satisfaction. On the contrary, some refrain from using their FWA as they fear the lack of visibility can negatively affect their career. Overall, this type of arrangement has a positive effect on incompatible work/family responsibilities, which can be seen as work affecting family responsibilities or family affecting work responsibilities. FWA is also helpful to those who have a medical condition or an intensive care-giving responsibility, where without FWA, part-time work would be the only option. History The concept was first proposed in 1960 by Christel Kammerer, a German management consultant in West Germany. It was first implemented by the German aerospace firm Messarschmilt-Boklow-Blohm in 1967. It was not until ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
