The evolution of Human Resource Management over the years has introduced us to advanced techniques and technology. With the changing trends also comes new terminology to describe them in the marketplace. Sometimes in keeping up with the pace, we forget the lingo behind. So here are a few interesting words buzzing in the HR space.
Getting to know these terms will not only strengthen your grip over the HR space, but also enlighten you with what some of the prominent personalities in HR are talking about.
Restrictive Covenant – It is a contract clause which refrains the big shots in your company or the highly skilled employees from joining your competitor in a specific region for a specific period of time.
Boomerang Employees – It is a term used to refer the employees who would only leave the organization to come back later.
These days many companies are recruiting former employees as they are already accustomed to the workplace. Also, it has become much easier to stay in touch with former employees through LinkedIn and Facebook.
Datafication – This term defines the conversion of some important strands of information to computerized data. This can then be turned into new forms of values.
Like, in the HR space, using the Talent Analytics to know the skills of your employees and guide them through their areas of weakness.
Rightsourcing – It is selecting the best way to procure a service, deciding whether a company is best served by performing a business requirement in-house (in-sourcing) or contracting it out to a third-party service provider (outsourcing). Right sourcing literally means “choosing the correct source.”