OPERATIONAL DEFINITIONS 1. Attrition: Attrition is defined as the loss of employees: the gradual reduction of the size of a work force that occurs when personnel lost through retirement or resignation are not replaced 2. Cost Per Hire (CPH): The CPH is a metric designed to measure the costs associated with the sourcing, recruiting and staffing activities borne by an employer to fill an open position in the organization. CPH is a ratio of the total dollars expended (in both external and internal costs) to the total number of hires in a specified time period. Or, in formula representation: CPH = Sum[External Costs] + Sum[Internal Costs] / Total Number of Hires in a Time Period 3. E-economy: E-economy based largely on online business transactions an economy that is characterized by extensive use of the Internet and information technology. 4. Employee:
Employee is a person who is hired to provide services to a company on a regular basis in exchange for compensation and who does not provide these services as part of an independent business 5. Employee Engagement: Employee engagement is a property of the relationship between an organization and its employees. An "engaged employee" is one who is fully absorbed by and enthusiastic about their work and so takes positive action to further the organization's reputation and interests 6. Employee Retention: Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time. 7. Former Employee: Former employee is someone who worked for a company in the past but no longer does. They are also known as ex-employees, boomerangs, corporate alumini. 8. Human Resources Development (HRD): Human Resource Development (HRD) is thee part of human resource management that specifically deals with training and development of the employees. Human resource development includes training an individual after he/she is first hired, providing opportunities to learn new skills, distributing
resources that are beneficial for the employee's tasks, and any other developmental activities
9. Human Resource Management (HRM or HR): Human resources managemen is the management process of an organization's workforce, or human resources. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture and ensuring compliance with employment and labor laws. In circumstances where employees desire and are legally authorized to hold a collective bargaining agreement, HR will also serve as the company's primary liaison with the employees' representatives (usually a trades union). 10. Knowledge Economy: The knowledge economy is the use of knowledge to generate tangible and intangible values. Technology and in particular knowledge technology (Artificial Intelligence) help to transform a part of human knowledge to machines. This knowledge can be used by decision support systems in various fields and generate economic values. Knowledge economy is also possible without technology. 11. Knowledge Worker:
Definition of knowledge worker is defined as an employee in knowledge-based industry: somebody working in an industry such as management consultancy, healthcare or IT/ITES or any service industry that produces wealth through knowledge than goods
12. Portal: Portal is a term, generally synonymous with gateway, for a World Wide Web site that is or proposes to be a major starting site for users when they get connected to the Web or that users tend to visit as an anchor site. There are general portals and specialized or niche portals. Some major general portals include Yahoo, Excite, Netscape, Lycos, CNET, Microsoft Network, and America Online's AOL.com. Examples of niche portals include Garden.com (for gardeners), Fool.com (for investors), and SearchNetworking.com (for network administrators). 13. Recruitment Recruitment refers to the process of attracting, screening, selecting, and onboarding a qualified person for a job. At the strategic level it may involve the development of an employer brand which includes an "employee offering". It is also known as hiring or employing 14. Reemploying:
The act of employing a former employee is known as reemploying. This is also referred to as rehiring or rerecruiting.
15. Referral HiringReferral hiring is an internal recruitment method employed by organizations to identify potential candidates from their existing employees' social networks. An employee referral scheme encourages a company's existing employees to select and recruit the suitable candidates from their social networks. As a reward, the employer typically pays the referring employee a referral bonus.