Business Jargons

Definition: The HR Audit is the process of evaluating the performance of Human Resource Department and its activities undertaken, and the policies followed towards the accomplishment of organizational goals. The HR Audit is conducted to identify the lapses, shortcomings, gaps in the implementation of HR functions and suggesting the remedial actions, if any. HR audit … [Read more...] about HR Audit

Definition: E-HRM is the integration of all HR systems and activities using the web based technologies. Simply, when HR uses the Internet or related technologies to support their activities, procedures, processes, then it becomes an e-HRM. Through e-HRM, the HR manager can get all the data compiled at one place and can make the analysis and decisions on the personnel … [Read more...] about e-HRM

Definition: The HR Dashboard is the visual representation of the metrics that an HR manager needs to keep a track of to judge the performance of different organizational departments. Apart from the records of personnel, it includes the business performance dashboard, marketing dashboard, sales dashboard, finance dashboard, etc.   There is no standard format for … [Read more...] about HR Dashboard

Definition: The Business Ethics refers to the system wherein what is right and wrong, just and unjust, good or evil is studied about the actions of the businessmen. In general, the “ethics” means a sense of what is fair and acceptable to the society; the same moral principles apply to the business ethics as well. Sources of Business Ethics Religion: There are numerous … [Read more...] about Sources of Business Ethics

Definition: The Balanced Score Card is a tool used to evaluate the effectiveness of Human Resource Management and is developed by Kaplan and Norton. In this method, the HR evaluates not only the financial performance of the organization but also takes into the consideration the key performance indicators of customer service, internal business process and learning & … [Read more...] about Balanced Score Card

Definition: When a former or the existing employee of the organization raise his voice against the unethical activities being carried out within the organization is called as whistle blowing and the person who raise his voice is called as a whistle blower. The misconduct can be in the form of fraud, corruption, violation of company rules and policies, all done to impose a … [Read more...] about Whistle Blowing

Definition: The Job Discrimination means making an adverse decision against the employee or the job applicant on the basis of his membership in a certain group. In an organization, several instances can be seen where an individual is discriminated on the grounds of sex, religion, caste, physical disability and national origin. The most common discriminatory practices … [Read more...] about Job Discrimination

Definition: The Exit Interview is conducted at the time an employee is separating from the organization. The main purpose of the exit interview is to determine the employee’s reason for departure. Through this interview, the organization can get an effective feedback from the departing employee and can assess the weakness and the strength of a firm. It is often recommended … [Read more...] about Exit Interview

Definition: A Wage is a monetary compensation given by the employer to the employee (labor) for the amount of work done on an hourly, weekly or monthly basis. Methods of Wage Payment Minimum Wage Method: Under this method, the minimum amount of wage is paid to the employee irrespective of the employer’s paying ability. It is based on the concept that the wage is paid not … [Read more...] about Methods of Wage Payment