10 HR-Tech Terms You Should Know
Every sector has its lingo. If you want to know what you’re talking about, you need to understand the jargon. It’s like learning a language; once you know the words, you can start to build conversations. Here are 10 HR-Tech terms to help you talk the talk:
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1. Predictive Preselection
Using Predictive Analytics in your preselection process. With the help of data gathered from your current work force it is possible to make predictions on the future success of applicants. For more information on Predictive Preselection, go here.
2. Talent Pooling
A talent pool is nothing more than a database of candidate profiles interested in working for your company. Organisations like to have a talent pool because it reduces the cost of recruitment as well as the time to hire. One of the ways to collect and manage candidate profiles is through an ATS (Applicant Tracking System).
3. ATS – Applicant Tracking System
An ATS, the acronym for applicant tracking system, is a software application that’s meant to help a company recruit employees more efficiently. Sometimes it can be called a CMS, a candidate management system, and the process may include anything from job posting and resume screening to dealing with assessment questions.
4. Mobile Recruiting
This term is pretty self-explanatory. It’s about using mobile technology – think of mobile career sites, recruiting by text, mobile recruiting apps and social recruiting – to attract, engage and eventually convert candidates.
5. SaaS – Software as a Service
Software as a Service, also referred to as ‘on demand software’, is a way of licensing and distributing software. A third-party provides the applications – all of which are hosted ‘in the cloud’ – and makes them available to customers via the internet. It’s one of the most common deployment methods for HR-technology these days.
6. API – Application Programming Interface
An API is a set of routines, protocols and tools for building software applications. To put it simply you could say that the API is the manual that provides the programmers with all the building blocks they need to develop a program.
7. TMS – Talent Management System
TMS, yet another acronym to remember. There are four pillars of talent management: recruitment, performance management, learning & development and compensation management. A TMS is a software system that deals with ‘talent’. Talent Management Systems aim to address long-term strategic goals and focus on assisting organisations on matters such as succession planning.
8. HRMS – Human Resources Management System
Here we’re talking about a software application that combines various HR functions. Think of benefits administration, payroll, and performance analysis for example. An HRMS is thus a combination of systems and processes that connects human resource management and information technology through HR-software. It helps automate repetitive and time consuming tasks.
9. Succession Planning
Succession planning, as you might expect, is all about the future. It’s about finding and nurturing people from within (or even from outside) your organisation, in order for them to fulfil important (strategic) roles at a later point in time. Companies think of succession planning to make sure they have enough competent and experienced people ready to succeed current leaders or senior managers when they leave. One way of doing this is, the quick learners amongst you might be on to it already, by using talent pool-based succession software.
10. HCA – Human Capital Analytics
Let’s wrap things up with one last acronym, HCA. Human Capital Analytics, also referred to as human resources analytics or talent analytics (to keep things simple), is the application of data mining and business analytics techniques to HR data. Obvious, right? Not really indeed. The goal of HCA is to give an organisation insights on how to manage employees efficiently. In order to get to these insights, people data are collected and used.
Voila, 10 HR-Tech terms you need to know. Of course this is not an exhaustive list, but it’s a good start. Enough to get you talking for sure, and you’ll be able to pick up the rest along the way!
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