The document defines various human resource management (HRM) jargon terms, including their meanings and examples of usage in an employment context. Some key terms summarized include:
- Attrition refers to a reduction in workforce due to retirement, resignation, or death. Acquisition is the act of gaining possession of another business through purchase.
- Absenteeism is an unexcused voluntary absence from work. Benchmarking sets standards to evaluate actual performance against.
- Brainstorming involves group discussion to generate new ideas. The carrot and stick approach uses rewards and penalties to motivate employee performance.
- Competitive advantage refers to superior value provided compared to competitors. Leverage means achieving high returns with low