Performance Management
This performance evaluation method uses many different rating groups, including supervisors, peers, and subordinates, to evaluate an employee.
What is 360-degree feedback?
A benefit plan that allows employees to tailor their coverage to suit their specific needs and trade off benefits that are not important to them.
What is a flexible benefits plan?
Daniel Kahneman describes this mode of thinking as fast, intuitive, and automatic.
What is System 1 thinking?
When forecasting workforce needs, this method aligns with the "outside view" by comparing current project needs to similar past situations or historical trends.
What is Reference Class Forecasting?
Employee engagement survey scores are considered this type of indicator because they signal future outcomes like turnover.
What is a Leading Indicator?
This performance appraisal method determines the rank order of all employees in a unit by systematically comparing each employee with each of the other employees in the unit.
What is the Paired Comparison Method?
In the "Total Rewards" functional area, this metric compares an individual’s salary to the midpoint of the market or pay range to assess competitiveness.
What is the Compa-Ratio?
This cognitive bias refers to the tendency for individuals to weigh potential losses more heavily than potential gains.
What is Loss Aversion?
This term describes the approach of combining HR data with business data (like sales or finance) to solve business problems, rather than just analyzing HR data alone.
What is People Analytics?
This metric tracks the percentage of open roles filled by existing employees, serving as a key indicator of how effective your succession planning and upskilling programs are.
What is the Internal Promotion Rate?
In an effort to "provide something to everyone," organizations sometimes lump cost-of-living increases together with merit pay. However, this practice is discouraged because it dilutes the critical relationship between pay and ________
What is Performance?
This mandatory government-provided benefit offers temporary income support to workers who lose their jobs or take leave for specific reasons like illness or parental care.
What is Employment Insurance?
While traditional economics assumes humans are fundamentally selfish and will "shirk" duties if not watched, policies like Google's "20% time" succeed because they rely this powerful social instinct to return a favor.
What is Reciprocity?
Going beyond simple forecasting, this advanced analytics technique finds the best allocation of resources under constraints, such as in Google’s "Rule of Four" for hiring.
What is Optimization?
Adapted from customer marketing, this popular 2023 metric asks employees one simple question: "On a scale of 0-10, how likely are you to recommend this organization as a place to work?"
What is eNPS (Employee Net Promoter Score)?
Unlike stock options where employees buy actual shares, this specific type of stock plan rewards employees with cash bonuses that are tied to the stock's performance, without transferring actual ownership.
What are Phantom Shares?
In a forced ranking system, a peer appraiser might be tempted to rate colleagues poorly due to the limited availability of this specific type of compensation.
What is Merit Pay?
Top-down management often fails because leaders lack the specific on-the-ground details held by frontline employees. Collaborative systems succeed because they fix this "information gap" by leveraging the employees' __________ knowledge.
What is Private Knowledge or Asymmetric Information?
This level of analytics goes beyond predicting outcomes and uses optimization or simulation to advise on what should be done (e.g., using dashboards to link activities to objectives).
What is Prescriptive Analytics?
If this specific percentage is low, it is a "red flag" indicating that your salary offers are uncompetitive or your employer brand is weak compared to the market.
What is the Offer Acceptance Rate?
Unlike the standard 360-degree appraisal which focuses on collecting input, this method performs a second round of review that is more focused on "ongoing development" and coaching.
What is 720-Degree Feedback?
Under this specific type of retirement program, an employee's future income is determined by a formula involving years of service and salary level, not the company's profit level.
What is a Defined Benefit Program?
When managers rely on focusing only on the specifics of their current project, they often fall prey to this bias—systematically underestimating the time, costs, or risks involved compared to historical data.
What is Optimism Bias?
In the hierarchy of analytics, "Deep Q&A" systems and LLMs go beyond simple prediction; they are forms of this broad branch of computer science that enables machines to simulate human intelligence and answer complex queries.
What is Artificial Intelligence (AI)?
When benchmarking productivity, companies often use this metric (Total Income / Full-Time Employees), though it can be misleading if a competitor uses many contractors who aren't counted in the denominator.
What is Revenue per FTE (Full-Time Equivalent)?