Recruiting glossary

Applicant Tracking System (ATS) is a system that automates the hiring process. It allows employers to post job openings and track applicants. It also allows applicants to track their progress through the hiring process.

Deferred compensation is a type of compensation in which an employee agrees to forgo current income in exchange for receiving income at a future date. This type of compensation can take the form of stock options, bonuses, or pension payments.

Functional job analysis is a process for systematically collecting and analysing job-related data. The purpose of functional job analysis is to identify the key tasks and knowledge, skills, abilities, and other characteristics (KSAOs) needed to perform a job. The data collected through functional job analysis can be used to develop job descriptions, identify training and development needs, and assess job performance.

A purple squirrel is a perfect but very rare and hard to find candidate.

The job classification process is used to determine the appropriate level of a position within the organizational structure. This process is typically used when creating a new position or when reclassifying an existing position. The job classification process involves four steps: 1) position analysis, 2) job evaluation, 3) job grading, and 4) salary determination.

Placement within recruitment is the process of finding the right employees for the right positions within a company. This can be done through a variety of means, such as job postings, interviews, and reference checks. The goal of placement within recruitment is to ensure that each employee is placed in a position that they are best suited for, in order to create a productive and efficient workforce.

Employee retention is a process in which an employer tries to keep its employees for a long time. It may involve initiatives such as offering better working conditions, providing training and development opportunities, and offering incentives.

A retention bonus is a sum of money that an employer offers to an employee in order to encourage them to stay with the company for a certain period of time.

Salary benchmarking is the process of comparing an individual's salary to the salaries of others in the same or similar position in order to determine whether the individual is being fairly compensated.

A gig worker is an independent contractor who works on a per-gig basis. Gig workers are often used in the gig economy, which is a term used to describe the growing trend of businesses using short-term, on-demand contracts instead of full-time employees.