Chapter 1 Flashcards
Human Resources Management (HRM)
The process of managing human talent to achieve an organization’s objectives.
Human Capital
The knowledge, skills, and capabilities of individuals that have economic value to an organization.
Downsizing
Planned elimination of jobs.
Outsourcing
Contracting outside the organization to have work done that formerly was done by internal employees.
Offshoring
The business practice of sending jobs to other countries.
Corporate Social Responsibility
The responsibility of the firm to act in the best interest of the people and communities affected by its activities.
Sustainability
Doing business in a way that does as little harm to the environment and depletes as few natural resources as possible.
Collaborative Software
Software that allows workers to interface and share information with one another electronically.
Knowledge Workers
Workers whose responsibilities extend beyond the physical execution of work to include planning, decision-making, and problem-solving.
Human Resources Information System (HRIS)
A computerized system that provides current and accurate data for purposes of control and decision-making.
Nearshoring
Occurs when a firm relocates jobs abroad to nations closer to its domestic market.
Homeshoring
Occurs when a firm relocates jobs abroad back to its domestic market.
Furloughing
A situation in which an organization asks or requires employees to take time off for either no pay or reduced pay.
Employee Leasing
The process of dismissing employees who are then hired by a leasing company (which handles all HR-related activities) and contracting with that company to lease back the employees.
Employee Engagement
The extent to which employees are enthused about their work and committed to it.
