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2.03 Take Action
Business Management I
| Term | Definition |
|---|---|
| Benefits | Advantages or payments employees receive in addition to their wages (e.g., sick time, holiday, pay, health insurance) |
| Compensation | Pay or wages for work completed |
| Compliance | Fulfilling the requirements of the law |
| Employee complaint | An oral or written expression of an employees dissatisfaction |
| Employee-assistance program | A project organized and sponsored by a company to help its employees |
| Exit interview | Discussions with employees who are leaving that are designed to gain feedback for the business |
| Globalization | The rapid and unimpeded flow of capitol, labor, and ideas across national borders |
| Human resources | People who work to produce goods and services |
| Human resources management | The process of planning, staffing, leading, and organizing the employees of the business |
| Job description | Explanation of responsibilities and tasks associated with a specific job |
| Job specification | Explanation of the skills, knowledge, and characteristics required for job |
| On-boarding activities | Human resources management tasks that must be preformed when a new employee joins the company (e.g., orientation and paperwork) |
| On-the-job training | The most common method of training; employees learn from actually doing the job |
| Organizational restructuring | A significant change to a business's structure or operations (e.g., orientation , merger , acquisition , downsizing |
| Orientation |
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