Every business sector has its terms and phrases used. To fully understand what is being said in the HR world, you need to understand the jargon and pick out the key points from the waffle.
It can sometimes feel like you are learning an entirely new language, but once you have the basics, you can start to build up conversations with other people at company team building events and other networking opportunities.
It is far from uncommon for businesses to rely on external recruiters to find prospective employees, as this takes out the need for members of management to evaluate hundreds of CVs.
Instead, recruitment agencies will employ some different tactics to find the best candidates possible, and discard those that are not suitable.
Here are a few HR terms explained to help you to talk the talk.
A talent pool is just a database of potential candidates that are interested in working for your company.
Talent pooling is perfect for organisations to reduce the cost of recruitment and spend less time finding people to hire.
It can save organisations a huge amount of time and money and is a significant part of HR. One way to collect and manage candidate profiles is through an ATS (Applicant Tracking System).
TMS – Talent Management System
There are four main pillars of talent management; these are recruitment, performance management, learning & development and compensation management.
The TMS is the software system that deals with talent data.
The Talent Management Systems primary aim is to address long term strategic goals and focus on assisting organisations on matters such as succession planning.
That leads us nicely on to what Succession Planning is, as you might expect, all about the future.
It is about looking for people from inside and outside your organisation and nurturing them to enable them to fulfil important roles in the future.
This allows businesses to be sure that they have enough experienced people within that is ready to succeed and replace current managers and leaders when they leave.
The Talent Pool Database is a common place that you can find these people.
Human Capital Analytics
This can also be known as human resource analytics or talent analytics. It is the application of data mining and business analytics techniques to HR data.
The goal of this analytics is to give organisations an idea on how to manage employees efficiently.
To find these insights, data from people has to be collected and used.
Predictive Analytics help when you are completing your preselection process.
It is about getting information from the current workers to enable you to make predictions on the future success of applicants.
The data that is gathered is then used to make these predictions.
Applicant Tracking System
This is software that ultimately helps a company to recruit employees more efficiently. It is usually similar to any other management system used by any corporation.
It follows processes that have to be logged, monitored and updated. It could include anything from resume screening, job posting or interview scheduling.
It is designed to cut down on the manual labour of someone manually logging every application.
Software as a Service (SaaS)
This is also known as software on demand, and it is a way of licencing and distributing software. In this case, a third party will provide all of the applications, and these are all hosted in the cloud.
This then makes them available to customers through the internet.
It is a widespread deployment method for HR-technology these days because of the sharing ability and simplicity.
This one is pretty self-explanatory; it is all about using mobile technology.
Using mobile career sites is all a part of this as well as recruiting by text and mobile recruiting apps. I
t also involves using social media, such as Twitter, Facebook and, especially, LinkedIn to attract, engage and eventually convert candidates.
It is something that has kept HR up to date with the current behaviours of people, and to be able to pick out the sublime from the average.
If all of this is a lot to process in one sitting then fear not because HR terminology is much easier to understand than it first appears.
Make notes and, importantly, learn to walk before you can run.
Failing all else, call upon the help of more experienced HR professionals, who will be more than happy to guide you onto the right path.