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Enterprise resource planning ( ERP) is the integrated management of main business processes, often in real time and mediated by software and technology. ERP is usually referred to as a category of business management software —typically a suite of integrated applications —that an organization can use to collect, store, manage and interpret ...
Professional employer organization. A professional employer organisation ( PEO) is an outsourcing firm that provides services to small and medium-sized businesses (SMBs). Typically, the PEO offering may include human resource consulting, safety and risk mitigation services, payroll processing, employer payroll tax filing, workers' compensation ...
In business and project management, a responsibility assignment matrix [1] ( RAM ), also known as RACI matrix [2] ( / ˈreɪsi /) or linear responsibility chart [3] ( LRC ), is a model that describes the participation by various roles in completing tasks or deliverables [4] for a project or business process. RACI is an acronym derived from the ...
An organizational chart, also called organigram, organogram, or organizational breakdown structure ( OBS ), is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs. The term is also used for similar diagrams, for example ones showing the different elements of a field of ...
Compensation and benefits. Compensation and benefits ( C&B) is a sub-discipline of human resources, focused on employee compensation and benefits policy-making. While compensation and benefits are tangible, there are intangible rewards such as recognition, work-life and development. Combined, these are referred to as total rewards. [ 1]
Human Resource Accounting (HRA) is the process of identifying and reporting investments made in the human resources of an organisation that are presently unaccounted for in the conventional accounting practice. It is an extension of standard accounting principles. Measuring the value of the human resources can assist organisations in accurately ...
Human resource management system. A human resources management system (HRMS) (alternatively, human resources information system (HRIS) or human capital management (HCM) system) is a form of human resources (HR) software that combines a number of systems and processes to ensure the easy management of human resources, business processes and data.
e. Employee benefits and benefits in kind (especially in British English ), also called fringe benefits, perquisites, or perks, include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. [ 1] Instances where an employee exchanges (cash) wages for some other form of benefit is generally ...