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The economic value that an employee provides to an organization through their knowledge, skills, and abilities. Importance: Key factor in organizational performance and competitive advantage.

The process of finding and acquiring skilled human labor for organizational needs and to meet any labor requirement. Importance: Critical for sourcing the best talent to achieve business goals.

The combination of salary and additional benefits that an employee receives from their employer. Importance: Attracts and retains employees; affects job satisfaction.

A system where employees receive confidential, anonymous feedback from the people who work around them. Importance: Offers a comprehensive view of employee performance.

The extent to which employees feel passionate about their jobs, are committed to the organization, and put discretionary effort into their work. Importance: Impacts productivity and retention.

The process of integrating a new employee into an organization and its culture. Importance: Effective onboarding improves employee retention and productivity.

The deliberate, systematic, and sustained effort to improve the effectiveness of an organization. Importance: Helps organizations adapt to changes and improve processes.

A measurement of the number of employees who leave an organization over a set period. Importance: It helps to measure employee retention and satisfaction.

The practice of having certain job functions done outside a company instead of having an in-house department handle them. Importance: Can reduce costs and increase efficiency.

Key Performance Indicators are measurable values that demonstrate how effectively a company is achieving business objectives. Importance: KPIs help in monitoring progress towards goals.

Policies and programs that promote the representation and participation of different groups of individuals. Importance: Enhances business innovation and decision-making.

A regular review of an employee’s job performance and contribution to the company. Importance: It assists in career development and compensation decisions.

The natural process where the workforce shrinks due to employees retiring or resigning. Importance: Its analysis helps anticipate future hiring needs and costs.

The process of comparing one's business processes and performance metrics to industry bests or best practices. Importance: Helps organizations understand how they compare with competitors.

A strategy for passing on leadership roles, often the ownership of a company, to an employee or group of employees. Importance: Ensures business continuity and leadership development.

The ability of an organization to retain its employees. Importance: Reduces turnover costs and preserves the knowledge base within the company.

The process of collecting and analyzing Human Resource data to improve an organization’s workforce performance. Importance: Provides insights for better HR decision-making and strategic planning.

The approach to transitioning individuals, teams, and organizations to a desired future state. Importance: Ensures smooth transition and effective adoption of change.

The process of promoting a company as the employer of choice to a desired target group. Importance: Attracts and retains talented employees; affects perception of company.