What Is Human Capital Management (HCM)? Human capital management (or HCM for short) refers to the practices that an organization has related to people resource management. Human capital management is vital for hiring employees, training them, and ultimately retaining them. These are generally broken down into 3 distinct categories: Workforce acquisition Workforce management Workforce optimization […]
What Is Time Tracking? At its simplest, time tracking refers to how a business measures the number of hours an employee has worked on a shift, project, or task. It’s primarily used for businesses where the employees are paid by the hour. It’s also often used by freelancers and professionals who charge by the hour. […]
What Is a Blended Workforce? A blended workforce is a staff that includes permanent employees, temporary employees, and independent contractors. More specifically, this means that the staff may be any combination of full-time employees, part-time employees, temporary employees, long-term contractors, consultants, and independent contractors and freelancers. In other words, a blended workforce is a staffing […]
What Is an Agile Organization? An agile organization is an organization that is able to respond to changing market landscapes with agility. In other words, it is an organization that’s able to react quickly to changes in the market. To achieve this, agile organizations typically put a greater emphasis on customers than profits, even if […]
What Is Workforce Analysis? Workforce analysis is the examination of a company’s employee and contractor base, i.e. its workforce, to identify areas of strength and weakness. In essence, it is a process that is used to evaluate how a company’s workforce is performing and see if there’s anything that can be done to improve. Furthermore, […]
What Is a Leave of Absence? A leave of absence is a period during which an employee is granted the ability to take time off work. Typically, the employee will request their leave for personal reasons, such as recovering from a medical issue, dealing with a recently passed family member’s estate, or the birth of […]
What Is Disability Leave? Disability leave is a type of leave of absence that is protected by the Americans with Disabilities Act (ADA). Unlike sick days or other time off, disability leave is not accrued. Rather, it is protected under the law as a disability accommodation. Disability from work can be given to an employee […]
What Is Business Agility? Business agility refers to a company or organization’s ability to adapt to new situations and quickly change to meet the needs of an evolving market. In other words, it refers to the characteristic of being agile: just like an acrobat who is light on their feet, an agile business is able […]
What is a W-2 form? The W-2 form is a tax document that is used to report employee income, both from salaries and wages. The form also notes how much tax the employer withheld alongside some additional information. If you have made more than $600 from your employer, you are entitled to a W-2 form. […]
What is deferred revenue? Deferred revenue refers to a payment that a company has received for goods or services that it hasn’t yet delivered. The term is used in accrual counting, in which income is only recorded once it is earned, i.e. the product or service has been completed or delivered. Until that happens, deferred […]
