HB 100

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HB 100
2011-09-28 16:52:47

Human Resources
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  1. Bonus
    an extra payment made to an employee at the end of a specific time frame - above an employee's regular base wage or salary
  2. cafeteria plans
    at the employer's discretion, they may provide employees with a set dollar figure per year which the employee may then choose to spend on some or all of the various programs included on the employers “benefits menu” – have become more common recently because of the rising expenses associated with various employee benefits as well as the varying needs of different employees
  3. commissions
    extra payments made to an employee based on meeting specific quantities or levels of sales during a pre-agreed-upon time frame
  4. cost per hire
    the charges a hospitality business incurs to hire an employee - calculated by adding any and all advertising fees, employee referral expenses, travel and/or relocation expenses etc. associated when a new employee is brought into the business
  5. defined benefits plan
    employer paid retirement plans that involved specific promises to pay employees upon retirement, usually based on the number of years the employee worked for the company, their average earnings over the later years of employment, and their age upon retirement. Having proven to be relatively risky and expensive for companies to administer, these plans are effectively extinct, especially among contemporary hospitality employers
  6. defined contribution plan
    plans which provide no guaranteed benefit levels; the amount of money available to any employee upon retirement is based on amounts the employee chose to save and invest over the years and what sort of return was earned on those invested funds after fees have been deducted by the companies that manage the accounts. These plans may or may not include contributions from the hospitality employer. The choices of defined contribution plans offered by employers may vary, but a common option is named after the section of the Internal Revenue Service (IRS) code that established these plans, the 401(k) plan
  7. direct compensation
    cash paid to employees as either wages, salaries, bonuses, and/or commissions in exchange for their behaviors on the job
  8. employee assistance programs (EAPs)
    employer sponsored programs which provide employees with confidential professional counseling and/or referral assistance in dealing with a variety of circumstances that may affect on-the-job performance such as drug or alcohol dependence, family or marital difficulties, legal or financial problems, or other personal issues
  9. employee referrals
    process of rewarding current employees (usually with cash) for each new employee they recruit/refer to the HB (the new hire typically has to remain employed for a minimum time period before the bonus is paid)
  10. exempt employees
    are eligible to be paid by salary and do not qualify for overtime pay, no matter how many hours they might work in a week -- the U.S. Department of Labor applies salary level standards and duties standards in determining which employees are considered exempt
  11. exit interviews
    an interview conducted with an employee who is leaving the business -- the primary goal is usually to learn more about actual working conditions with the intent of improving future practices -- offers of confidential treatment of responses or even anonymity (by conducting the exit interview via computer/online) may be used to try to increase the likelihood the soon-to-be former employee will tell the truth
  12. external recruiting
    occurs when an HB doesn't have a currently qualified employee to fill an open job, it must then attempt find someone not already employed a the firm (e.g. "buy from the outside")
  13. HR cycle/process
    For any hospitality business consists of its ongoing efforts at employee recruiting (finding folks and getting them to apply/throw their name in the hat), selecting (fishing out the keepers – persuading them to join the team), training (telling and showing them how to do well and improve), evaluating (did they do the right stuff -- what happens if they did or didn't?), compensating (determining just rewards and providing them in a fair fashion) and separating (because for good or bad reasons, everyone leaves eventually)
  14. indirect compensation
    payments, some of which are required by law (i.e. Social Security, Medicare, Worker’s Compensation and Unemployment Insurance programs) and other noncash rewards and programs at the employers discretion such as paid time off, insurance, retirement programs, and employee assistance programs (EAPs), each of which employees may benefit from at some point (or not) in their lives
  15. insurance
    Hospitality businesses may or may not (or under laws prevailing at the time this is being published) elect to offer a range of insurance benefits to their employees -- from insurance coverage for pets to health, dental, vision, disability, life, and long-term care insurance plans for the employees and their families may (or may not) be included
  16. internal recruiting
    occurs when a hospitality business looks to find current employees who may be promoted or transferred from their present positions to different jobs within the hospitality business (e.g. the "make or grow our own" approach")
  17. job analysis
    the process of getting detailed information about the work activities, required performance levels and behaviors, equipment, tools, and context for each required position
  18. job description
    a document which details the observable actions required of someone performing a specific job well – including the essential duties they are expected to perform, which specific tasks they must accomplish, and what responsibilities they have
  19. job specifications (aka job requirements)
    the section of a job description which addresses the skills, knowledge, and any other characteristics needed by anyone doing the job as well as the physical and other demands the job places on the person doing it
  20. nonexempt employees (aka blue collar workers)
    employees who are eligible to be paid overtime (usually 1.5 times the regular wage rate) for any hours worked past 40 hours in a designated workweek (subject to prevailing state and/or municipal laws)
  21. nonfinancial compensation
    the potential rewards/satisfaction that an employee may experience from doing the job itself or from the people and the environment in and around which the person works
  22. on-the-job training (OJT)
    a common training method used in hospitality businesses -- ideally entails an employees undertaking a new job under the watchful eye and with the expert coaching of an experienced and enthusiastic veteran co-worker. At worst, this is the "just follow Pat around" approach, and it can turn out that Pat is tired, ornery, having a bad life, and has absolutely no interest in training anyone
  23. orientation
    typically the 1st step in new employee training intended to ensure that each new employee understands who and what really matters at that HB and what behaviors will be expected of them on the job -- including an overview of the organizational structure and at least a tour of the business as well as an outline of the new employee’s daily routine with an emphasis on safety procedures and security rules
  24. paid time off
    at the start of each year (or whenever the business designates) eligible employees are provided a "bank" of paid time off days to use (often with advanced notice and prescheduled approval) as they best see fit - for vacations, medical appointments, or other personal matters - this approach usually intended as solution to confusion resulting from the traditional separating and sorting of vacation time from holidays and personal and sick days
  25. performance appraisal
    a meeting of a supervisor/manager and a subordinate employee used to discuss and compare performance expectations with the employee's actual performance and results for a specific time period
  26. realistic job previews (RJPs)
    telling and/or showing all applicants what it's really like to have a particular job (both the good and the bad stuff) -- can take the form of text descriptions, video presentations, and work simulations
  27. recruiting
    the process of getting the word out to suitable contenders for open positions, encouraging them to apply for employment with the hospitality business
  28. selection tools
    tests and/or assessments that may be administered to assist in sorting candidates based on job-related categories -- could include intelligence tests, physical ability tests, personality assessments, work simulations, virtual "in-box" exercises, or combinations of all or several of these
  29. separating
    the last stage in the HR cycle when employment is terminated, whether for cause (employee was fired) or voluntary (resignation or retirement)
  30. yield ratio
    the percentage of applicants from a recruitment source that make it to the next stage of the process - computation entails counting the number of applicants generated from each recruiting method undertaken (whether internal or external) to see which (if any) lead to actual hires