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13 Cards in this Set

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Competitive advantage

Doing something differently from the competition that leads to outperformed and success

Employee handbooks

Print or online materials that document the organization's HRM policies and procedures

Shared service center

Centralizes routine, transaction -based HRM activities

Outsourcing

Hiring an external vendor to do work rather than doing it internally

Professional employer organization

A company that leases employees to companies that need them

Human resource management

The organizational function responsible for attracting, hiring, rewarding and retaining talent

Total rewards

The sum of all of the rewards employees receive in exchange for their time, efforts, and performance

Direct financial compensation

Compensation received in the form of salary, wages, commissions, stock options, or bonuses

Indirect financial compensation

All the tangible and financially backed rewards that are not included in direct compensation, including free meals, vacation time, and health insurance

Nonfinancial compensation

Rewards and incentives given to employees that are not financial in nature including intrinsic rewards received from the job itself out from the work environment

Business strategy

Defines how the firm will compete in its marketplace

Talent philosophy

A system of beliefs about how an organization's employees should be treated

Human resource strategy

Human resource strategy links the entire human resource function with the firm's business strategy