List of Terms – R

Recruitment Process

The recruitment process refers to the practice of staffing an open or newly created position through the hiring of a new employee. Although this can be done through a variety of methods, an employee recruitment solution enables job management, capture of applicant resumes from various channels, creation of an applicant pool and bi-directional matching between applicant and job requirement to identify candidates most suitable for the organization’s needs.

 

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Recruitment software / Employee recruitment software

Employee recruitment software is a computerized system that allows management of the employee recruitment process. The process begins with job requirement management, collecting CVs of applicants, creating a pool of candidates, and bi-directional matching between applicant data and job requirements for sorting and screening the candidates best suited for of the organization’s needs. The process continues with automatic follow-up and documentation of the stages of the recruitment process: scheduling of interviews, summaries of professional interviews, results of evaluations, and more.
Advanced systems allow transfer of the data accumulated about the candidate to the personal file at the time of the candidate’s onboarding.

 

 

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Recruitment sources

The term refers to venues for locating candidates in the process of employee recruitment, such as internal recruitment of company employees or the applicant pool that accumulated over time, advertising on recruitment sites, placement agencies, social networks, referrals, etc. 

 

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Retention

Employee retention refers to the ability of an organization to retain its highly performing employees and decrease their turnover, thereby decrease recruitment and training costs and loss of talent and organizational knowledge. 

 

Retention can be represented by merely statistic (for example, a retention rate of 90% usually indicates that an organization kept 90% of its employees in a given period). However, many organizations perceive employee retention as their plans and activities to retain highly performing employees (talents) in the workforce. In this sense, retention becomes the strategy rather than the outcome.

 

 

 

Retroactive reporting

Retroactive reporting is the updating of attendance / absence of an employee data after the payment of wages for the purpose of adjusting the calculation and updating the balance of absence entitlement. 
This is required in cases when absence from work is considered by the payroll department as absence that requires withholdings from wages, whereas in practice the employee is entitled to payment.
Attendance software that allows retroactive updates guarantees that there is full correspondence between the employee’s attendance and absence data and the calculation of the payment to which the employee is entitled.