- 360 assessment
- An evaluation tool that collects feedback from manager, peers, direct reports, and customers.
- A matrix tool used to evaluate an organization’s talent pool based on performance and potential factors.
- A set of defined behaviors that an organization might utilize to define standards for success.
- Employee life cycle
- The various stages of engagement of an employee—attraction, recruitment, onboarding, development, retention, separation.
- Employer-employee relationship
- The employment relationship; the legal link between employers and employees that exists when a person performs work or services under specific conditions in return for payment.
- Human capital
- The skills, knowledge, and experience of an individual or group, and that value to an organization.
- Human resource management
- The management of people within organizations, focusing on the touchpoints of the employee life cycle.
- Human resources compliance
- The HR role to ensure adherence to laws and regulations that govern the employment relationship.
- Merit matrix
- A calculation table that provides a framework for merit increases based on performance levels.
- Pay-for-performance model
- The process and structure for tying individual performance levels to rewards levels
- Performance management
- The process by which an organization ensures that its overall goals are being met by evaluating the performance of individuals within that organization.
- Society for Human Resource Management
- The world’s largest HR professional society, with more than 285,000 members in more than 165 countries. It is a leading provider of resources serving the needs of HR professionals.
- Succession planning
- The process of identifying and developing new leaders and high-potential employees to replace current employees at a future time.
- Talent acquisition
- The process of finding and acquiring skilled candidates for employment within a company; it generally refers to a long-term view of building talent pipelines, rather than short-term recruitment.
- Talent development
- Integrated HR processes that are created to attract, develop, motivate, and retain employees.
- Talent review calibration process
- The meeting in which an organization’s 9-box matrix is reviewed and discussed, with input and sharing from organizational leadership.
- Total rewards strategy
- As coined by World at Work, includes compensation, benefits, work-life effectiveness, recognition, performance management, and talent development.
- Training, stretch assignments, individual assessments, individual development plans
These are tools that may be used in talent development:
Training—a forum for learning in person or online
Stretch assignments—challenge roles for high-potential employees
Individual assessments—personality and work style inventories of employees
Individual development plans—documents that highlight an individual employee’s opportunities for growth and path of action
- War for talent
- Coined by McKinsey & Company in 1997, it refers to the increasing competition for recruiting and retaining talented employees.