Human Resource Management Principles

The practice of using people-centric data in analytical methods to solve business challenges.

Balancing an organization's current needs with its future needs (5+ years) through a robust talent management system.

Factors that influence the need for human resources within an organization.

Predicting future HR needs by analyzing current and historical data, including workforce size, skill gaps, and turnover.

Analyzing the availability of skilled employees in the current market.

Matching predicted future demand with available supply to identify hiring needs.

A system used by organizations to manage employee data, including hiring, performance, and payroll.

Using HRIS data to make informed decisions about talent acquisition, development, and management.

A systematic method for improving employee performance by providing them with the knowledge, skills, and abilities needed to address performance issues.

A learning approach that allows individuals to access educational content and resources at their own pace and time, often online.

A critical component of effective human resource planning, it involves aligning organizational goals with the skills and resources of employees.

The value that employees contribute to an organization through their knowledge, skills, and abilities.

The process of anticipating and addressing future human resource needs, ensuring the right people are available at the right time.

The detailed steps taken to fulfill the organization's human resource needs, often involving recruitment, training, and development.

The practice of shifting from traditional classroom-based learning to modern digital and on-demand approaches.

The potential cost impact of even a small change in workforce size on overall labor expenses.

A situation when a company acquires all or a majority of another company. It may also refer to a merger between two or more companies.

A thorough change in a company's structure, processes, and systems. It can be triggered by mergers, acquisitions, or changes in the market.

The process of estimating future workforce needs. It helps companies ensure they can plan for staffing changes.

Techniques used to forecast future HR needs, ranging from basic assumptions to more complex statistical models.

A change in the organization's structure, often occurring as a result of mergers, acquisitions, or strategic shifts.

Estimating how many current employees can be promoted, transferred, or demoted to fill future job openings.

The pool of potential employees who already work for the company.

This involves reviewing the skills and experience of current employees to assess their potential for filling future openings.

Potential employees who are recruited from outside the organization, typically through job postings or headhunting efforts.

Forecasting future human resource needs, including staffing levels and skill requirements, to anticipate potential gaps.

The process of identifying and filling job openings within an organization.

A table summarizing the available positions within a company or organization, including the number of current employees and anticipated openings.

The process of planning and implementing strategies to attract and retain skilled employees to meet the organization's needs.

A formal agreement between an organization and a third party to perform a service, typically involving non-core functions and utilizing the expertise of the outsourcing firm.

A subset of outsourcing where jobs are transferred to another country by hiring local subcontractors.

A business practice where companies use a large, open network of people to fulfill their resource needs instead of internal employees.

A business decision made by executives and HR leaders to reduce costs, improve quality or free up internal resources by using external expertise.

When migrants experience hostility in the local job market, it can make it harder for them to find work. This is concerning because the Temporary Foreign Worker Program, meant to help Canadian employers find workers, is being scrutinized for its impact on job opportunities.

The Temporary Foreign Worker Program was changed in 2014 to ensure that Canadian workers are prioritized in hiring decisions. This change aims to reduce concerns about the program displacing local workers.

The temporary foreign worker program has become a source of debate due to its policies and potential impact on Canadian job markets. It is a contentious issue as some argue it benefits employers while others worry it displaces Canadian workers.

Negative attitudes towards businesses or economic growth can lead employers to relocate. Activist groups, who advocate for social and environmental changes, can sometimes influence these decisions.

Activist investing involves using shareholder power to push companies to change their practices. In the case of Agrium, activist investors attempted to break the company apart, which could have affected employee numbers.

Social justice movements have led to increased attention on diversity in hiring practices. This can be seen in increased targets for executives from underrepresented communities, such as Indigenous, Black, and people of color.

Demographic trends, such as population growth or aging, can significantly influence the availability of qualified workers. These trends can be anticipated years in advance, allowing organizations to plan accordingly.

A study by the Information and Communication Technology Council revealed a growing shortage of skilled technology workers in Canada. This highlights the importance of anticipating future workforce needs.