Discover the meaning of the latest PH payroll and HR terms and abbreviations with this free glossary.
HCM (human capital management) software Human capital management (HCM) software is a solution that enables employers to manage their teams across the full employee lifecycle. It can also be known as an HRIS (human resources information system) or an HRMS (human resources management system). HCM software it important because it supports a variety of HR functions, from recruitment and performance to payroll and benefits.
Hiring services Hiring services are outsourced specialists in finding and recruiting the right talent for the job. They can save businesses time and money if they don’t have an HR department, or if it’s overstretched.
HMRC Her Majesty’s Revenue & Customs, or HMRC, is the UK Government’s official regulatory body, responsible for assessing and collecting taxes.
HR The term ‘human resources’ refers to the people who look after employee management and development. The HR role is becoming a more proactive and strategic discipline, focused on motivating and retaining employees, instead of an administrative function.
HR administration HR administration is the term for looking after all activities associated with human resources (HR). This could include payroll and compensation, performance and training, organisational development, as well as staff relations.
HR analytics HR analytics refers to the collection and analysis of employee data to boost business performance and operational efficiency. Analysing this data can reveal workforce trends or patterns that could help inform future company strategy.
HR automation HR automation means automating previously manual processes and administrative tasks to improve efficiency. This frees up time for more strategic and people-focused HR activities such as motivating and retaining employees.
HR business partner An HR business partner will work with business leaders and teams to build up organisation and people capability. They need to have a thorough understanding of the business – its culture, people and challenges - before implementing a new strategy.
HR consulting HR consulting is the term for business advice or services provided by an outsourced expert. The aim is to help businesses maximise the effectiveness of their HR operations and implement policies successfully.
HR digital transformation Digital transformation in HR involves automating previously manual admin processes via technology and processing. It also involves encouraging a company-wide culture that embraces the benefits automation can bring. With time freed up from admin, companies become more agile, using data analytics to reveal insights and trends that can help inform their future strategies.
HR director An HR director has overall responsibility for a company’s training and staffing strategy. They will advise the board on the HR implications of any decisions. They are also responsible for formulating strategies that fit with the business objectives.
HR insights HR insights are also known as HR analytics. They use workforce information to help underpin making business decisions. The aim is for analytics to provide actionable insights for the whole business and thereby drive cultural change.
HRIS (human resources information system) HRIS stands for human resources information system. It is a form of human resources software that combines a number of systems and processes to ensure the easy management of human resources, business processes and data.
HRMS (human resources management system) A human resources management system, or HRMS, is software which helps HR teams to keep track of employee data, produce reports and generate data on workforce trends useful for business strategy.
HR outsourcing HR outsourcing is when a company outsources its HR function to external providers who are skilled in this area. This approach can save money and time, allowing specialist, experienced HR personnel to handle anything from payroll to recruitment, as well as offering advice on keeping compliant.
HR services Businesses with complex HR needs often outsource to external providers who deliver HR services. These include payroll, human capital management (HCM), recruitment and talent management, data analysis, and even the use of employee sentiment prediction software.
HR software HR software is an application used by the human resources (HR) function to help manage and look after employees. Human resources software is also known as an HRIS (human resources information system), HCM (human capital management) software.
Human Capital Management (HCM) A set of practices related to people resource management.
Human resource strategy Human resources strategy means high-level planning, setting out the priorities for people management and development in a business. It connects human resources (HR) goals with the overall company goals and shows how effective HR contributes to profitability. A good HR strategy sets clear goals within the overall business vision and breaks down how those goals will be achieved.