HR

Definition: Employee Retention refers to the ability of the organization to avoid the turnover of the employees. That is to keep its invaluable manpower. Besides, it is a state wherein the employees opt to stay and work for their current company. Also, they don't look for other job prospects. Therefore, it is diametrically opposite to employee turnover. In addition, it is a … [Read more...] about Employee Retention

Definition: Demotion implies the unavoidable reduction in the rank or designation of the employee, within the hierarchy of the organization. It can be a permanent reassignment of the employee to a lower rank than the rank he is working on currently. Further, the rank in which the employee will work after demotion shall contain lower responsibilities and will require a lesser … [Read more...] about Demotion

Definition: Retrenchment is a situation involving permanent termination or discharge of an employee's services by an employer for any reason whatsoever. It is forced on both parties, i.e. employer and employee. One can commonly see it in areas like plantations, agricultural services, food industry, machinery manufacturing and textile industry. This takes place due to … [Read more...] about Retrenchment

Definition: Productivity implies the quantitative relationship between what is produced (output) and how many resources are used during production (input). In other words, it is the ratio between the output of goods and the input of resources consumed. Hence, an increase in productivity indicates an increase in output, which is proportionately higher than the increase in … [Read more...] about Productivity

Definition: Career Planning refers to the organized process wherein the candidate establishes goals for his career ascertains various means to reach these goals like undergoing work education, training, and developmental exercises to get proper direction, timing, and sequence. In simple terms, career planning refers to the way an individual plan's their life's work, by … [Read more...] about Career Planning

Definition: Collective Bargaining can be defined as the form of negotiation amidst employer and the representatives of workers/employees, i.e. trade union, which establishes the terms and conditions of employment. Its purpose is to ascertain the working conditions, as well as to regulate the relations of employer and workers. Simply put, Collective bargaining is a … [Read more...] about Collective Bargaining

Definition: Employee Benefits implies the financial or non-financial compensation, offered to the employees, which forms part of their employment contract. It has an important role to play in differentiating two jobs offering the same salary, which vary in terms of the benefits offered. In finer terms, any kind of consideration given to the employees, in return for the … [Read more...] about Employee Benefits

Definition: Succession Planning is defined as the systematic process of recognizing and creating future leaders who are able to take the position of the old ones when they leave the organization due to retirement, resignation, termination, transfer, promotion or death. In finer terms, it is a modern technique followed by many companies, that concentrates on identifying the … [Read more...] about Succession Planning

Definition: Employee training and development implies a program in which specific knowledge, skills and abilities are imparted to the employees, with the aim of raising their performance level, in their existing roles, as well as providing them learning opportunities, to further their growth. Training implies a process of upgrading an individual's knowledge, skills and … [Read more...] about Training and Development

Definition: Arbitration is a type of Alternative Dispute Resolution (ADR). It is a process wherein one or more independent third person, analyses the dispute thoroughly, ascertains the cause of dispute, listens to the parties, i.e. employer and employee, collects relevant facts and information, so as to make recommendations accordingly, that have a binding effect on the parties … [Read more...] about Arbitration