Cost leadership

Cost leadership is a competitive strategy that emphasizes offering the product or service at the cheapest price. This can be done by creating the most efficient manufacturing price, by economies of scale, or by control of suppliers and channels.
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The Great Place to Work Institute

The Great Place to Work Institute is a research and management consultancy based in the U.S. with international affiliate offices throughout the world. The Institute works each year with Fortune Magazine and other publications throughout the world to compile the "Best Companies to Work For" lists, which appear in 25 different countries. Visit the institute at GreatPlacetoWork.com.
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The 80/20 Rule

Pareto's Principle, or the 80/20 Rule, describes the principle that twenty percent of a resource is responsible for eighty percent of the results. The 80/20 Rule may be applied to almost anything, from the science of management to the physical world.
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Student loan debt

Nearly two-thirds of undergraduate students graduate college with some debt. As of 2007, the average federal student loan debt among graduating seniors was $19,202, according to the National Postsecondary Student Aid Study. Graduate and professional students borrow even more, with the additional debt for a graduate degree ranging from $27,000 to $114,000.
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Corporate Meetings and Incentives

"Corporate Meetings and Incentives" magazine is the senior executive's guide to decision-making. CMI explores trends in management, motivation, and incentives as they relate to how organizations successfully communicate with employees.
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The Civil Rights Act of 1964

Title VII of the Civil Rights Act of 1964 prohibits employment practices that discriminate on the basis of sex. The law covers employers with fifteen or more employees, and prohibits sex-based discrimination in hiring, advancement, or any other terms or conditions of employment. The law also includes discrimination based on maternity, pregnancy and sexual orientation.
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Prescription drugs

According to HRAdvice.com, about 15% of employer health care costs are attributable to prescription drug plans. Prescription drug costs are the fastest rising component of medical expenditures, accounting for the largest percentage of increase in health care spending over the past several years. Most of the increase in drug costs reflect increased consumption.
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Civil Rights Act of 1964

Title VII of the Federal Civil Rights Act of 1964 makes it unlawful for an employer of 15 or more employees to refuse to hire, discharge, or take action affecting an employee’s compensation, terms, conditions, or privileges of employment because of the employee’s religion.
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U.S. worker productivity

According to the Bureau of Labor Statistics, the average U.S. worker in today's workplace needs to work only eleven hours per week to produce as much as one working forty hours per week in 1950.
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Mercer Human Resource Consulting

Mercer Human Resource Consulting, a subsidiary of Marsh and McLennan, is a global leader in HR and financial services. Mercer Human Resource Consulting provides expertise in human resource areas, ranging from compensation and benefits to operational effectiveness and employee performance and engagement. Mercer has over 15,000 employees serving clients in 41 countries.
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Hewitt Associates

Hewitt Associates is the world's largest multi-service provider of human resources outsourcing and consulting. The company provides services to more than 2,600 clients, has nearly 22,000 employees, and operates offices in 35 countries. Hewitt Associates was founded in 1940 and began trading on the New York Stock Exchange in June 2002.
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Lie detector tests

Most employers are prohibited by federal law from requiring employees to submit to lie detector tests. Notable exceptions to these laws are for public employees, government contractors, certain security personnel and drug company employees, as well as theft and industrial espionage investigations.
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HR metrics

HR metrics measure the effectiveness of HR programs and allow for fact-based decisions. HR metrics include turnover, workforce productivity, diversity, position vacancies, retention, cost of hiring new employees, compensation programs, and manager satisfaction. HR professionals use metrics to justify new programs and initiatives, and for effective communication with management.
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HRIS

The HRIS Specialist examines and verifies employee information processed by automated HR systems. They compile statistical information and prepare reports relating to payroll, recruiting, position classification, compensation, training, equal opportunity employment, or affirmative action. They also provide assistance with HRIS maintenance, troubleshoot user technical problems, and provide training.
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HMOs

An HMO (Health Maintenance Organization) is a form of health insurance combining a range of medical coverages offered by a network of doctors and medical professionals, usually for a flat monthly rate with no deductibles. Only visits to professionals within the HMO network are covered. The HMO must clear all prescriptions, referrals and other care in order to be covered.
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Return on Investment

The book "The Human Resources Scorecard: Measuring the Return on Investment" provides a comprehensive, step-by-step process for measuring return on investment. Based on the classic balanced scorecard process developed by co-author Jack J. Phillips, the book aids HR managers in determining and improving the bottom-line impact that human resource programs have on an organization.
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RCI

The Recruiter Confidence Index (RCI) was introduced in May 2003 by ExecuNet, an executive job search and recruiting organization. The RCI is designed to measure and gauge executive recruiter confidence for the next six months. The index is based on a monthly survey conducted by ExecuNet of roughly one hundred executive recruiters from across the U.S.
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ISPI

The International Society for Performance Improvement (ISPI) is an association dedicated to improving productivity and performance in the workplace. Founded in 1962, ISPI represents more than 10,000 members throughout the U.S., Canada, and 40 other countries. ISPI's mission is to develop and recognize the proficiency of its members and advocate the use of Human Performance Technology.
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Severance packages

There is no legal requirement in the U.S. to provide severance pay to terminated employees. Many employers routinely give severance packages to employees in order to bridge the gap between one job and the next and to hedge themselves against lawsuits. On average, severance-paying organizations provide terminated employees between one and two weeks pay for each year of service.
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Non-competes

A non-compete agreement is a document signed by an employee agreeing that, should the employee choose to leave the company, he or she will not work for a competitor for a specified period of time. Non-competes are used when employees have access to critical information. The legality of non-competes depend on state laws, the scope of the restrictions, and precedents set in court decisions.
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Disability insurance

Workers' compensation replaces income that is lost because of a job-related injury or illness. Disability insurance covers income lost due to injuries and illnesses that are not job related. Five states -- California, Hawaii, New Jersey, New York, and Rhode Island -- require that employees be covered by disability insurance through state-run programs or by private or self-insurance coverage.
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Southwest Airlines

Southwest Airlines likes to hire people with a sense of humor. The company's recruiting practices are built on the idea that humor can help people remain creative under pressure, work more effectively, and stay healthier in the process. By following this mantra, Southwest is able to foster a spirited workforce with employees that go the "extra-mile" when necessary while staying with the company longer.
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Marquis de Vauvenargues

“The greatest achievement of the human spirit is to live up to one's opportunities and make the most of one's resources.” - Marquis de Vauvenargues.
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Employee background checks

ADP Screening and Selection Services conducted nearly five million employee background checks last year. Forty-nine percent of the education, employment, and credential verifications had inconsistencies between what the applicants provided and what the source reported. Six percent of the information differences were received with negative remarks from the source in regard to the applicant.
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Retirement planning

More companies are shifting responsibility for retirement planning and funding to their workers. Traditional defined benefit pension plans and generous matching arrangements are giving way to employee funded 401(k) plans and cash balance plans. Reasons for the change include company cost cutting, competitive pressures, and a general decline in the length of tenure of employees.
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Behavioral job interviewing

Behavioral job interviewing was developed in the 1970s. Behavioral interviewing emphasizes past performance and behavior in predicting a candidate's future success with an organization. Candidates are asked to give specific examples of how they demonstrated particular behaviors and skills in the past. Nearly 30% of all organizations use behavioral interviewing to some degree.
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Slotting job

A commonly used job evaluation method is the slotting job evaluation system. A slotting job evaluation system uses the existing ranking of jobs within a company. New or revised jobs are evaluated by assessing them in relationship to other jobs within the existing job hierarchy.
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ERISA

The Employee Retirement Income Security Act was enacted to ensure the solvency of private pension plans. The law established the rights of pension plan participants, standards for the investment of pension plan assets, and requirements for the disclosure of plan provisions. The act also provided those not covered by a private pension the option of a tax-deductible Individual Retirement Account.
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Employee oriented organizations

Many studies show that companies with low turnover rates are very employee oriented. Employee oriented organizations solicit input and involvement from all employees and maintain a true "open-door" policy. Employees are given opportunities for advancement and are not micro-managed. Employees believe they have a voice and are recognized for their contribution.
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