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Business Jargons

A Business Encyclopedia

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Industrial Relations

Definition: The Industrial Relations or IR encompasses the relationship between the management and workmen and the role of a regulatory body to resolve any industrial dispute. As the name implies, Industry Relations comprises of two words, Industry, and Relations. Where industry covers the production activity in which the group of workmen is engaged in, while the relations … [Read more...] about Industrial Relations

Selection Process

Definition: The Selection is a process of picking the right candidate with prerequisite qualifications and capabilities to fill the jobs in the organization. The selection process is quite lengthy and complex as it involves a series of steps before making the final selection. The procedure of selection may vary from industry to industry, company to company and even from … [Read more...] about Selection Process

Selection

Definition: The Selection is the process of choosing the most suitable candidate for the vacant position in the organization. In other words, selection means weeding out unsuitable applicants and selecting those individuals with prerequisite qualifications and capabilities to fill the jobs in the organization. Most often, the selection and recruitment are used … [Read more...] about Selection

Alternatives to Recruitment

Definition: The Alternatives to Recruitment are the temporary ways of hiring people for the job position with a view to saving cost incurred in recruiting process and meet the short-term demand for increased work volume. The recruitment is the costly process which includes the salaries of recruiters, cost incurred in advertisements, time spent by the management, cost of … [Read more...] about Alternatives to Recruitment

External Sources of Recruitment

Definition: The External Sources of Recruitment mean hiring people from outside the organization. In other words, seeking applicants from those who are external to the organization. There are several methods for external recruiting. The firm must carefully analyze the vacant positions and then use the method which best fulfills the requirement. Following are the different … [Read more...] about External Sources of Recruitment

Internal Sources of Recruitment

Definition: The Internal Sources of Recruitment mean hiring people from within the organization. In other words, seeking applicants for the job positions from those who are currently employed with the firm. In any organization, following are the most common internal sources of recruitment: Transfer: Transfer means shifting an employee from one job to another, … [Read more...] about Internal Sources of Recruitment

Recruitment Process

Definition: The Recruitment is the process of analyzing the job requirements and then finding the prospective candidates who are then encouraged and stimulated to apply for the job in the organization. The Recruitment programme is designed to attract more and more applicants such that the pool of candidates applies for the job, and the organization has more options to select … [Read more...] about Recruitment Process

Job Enlargement

Definition: The Job Enlargement refers to the horizontal expansion of jobs wherein more and more activities, and tasks are added to the existing job scope at the same level in the organization. In other words, job enlargement means increasing the scope of duties and responsibilities of an individual by adding the related activities to his existing job profile and generally … [Read more...] about Job Enlargement

Job Enrichment

Definition: The Job Enrichment is the job design technique used to increase the satisfaction among the employees by delegating higher authority and responsibility to them and thereby enabling them to use their abilities to the fullest. In other words, job enrichment is the opportunity given to the employees to explore their abilities when some tough task is assigned to them. … [Read more...] about Job Enrichment

Job Simplification

Definition: The Job Simplification means breaking the job into relatively easier sub-parts with the intention to enhance the individual’s productivity by minimizing the physical and mental efforts required to perform a complex job. Once the complex task is divided into the relatively easier tasks, each task is assigned to the individuals who perform these over and over … [Read more...] about Job Simplification

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