Recruitment glossary

What is Downsizing?

Downsizing, often referred to as a layoff, is the process of reducing the size of an organisation’s workforce by terminating a certain percentage of its employee base. Organisations may utilize downsizing to help cut costs and remain competitive and efficient. Employees asked to exit are often compensated with a severance package of a fixed amount or a few months salary. The after effects of downsizing can be extremely negative, as remaining employees may fear themselves to be in a similar situation at a later time.


Application management
What is Turnover?

Turnover refers to the percentage of workers who leave an organisation and are replaced by new employees. Measuring employee turnover …

Application management
What is Superannuation?

Superannuation is an organisational pension program created by a company for the benefit of its employees.

Compliance
What is SMSF (Self Managed Superannuation Fund)?

SMSF (Self Managed Superannuation Fund) is a superannuation trust structure that provides benefits to its members upon retirement.The difference between …

Application management
What is a Recruitment Management System?

A Recruitment Management System, or RMS, is a system that is built with the purpose of assisting and managing the …

Application management
What is Recruitment Process Outsourcing?

Recruitment Process Outsourcing, or RPO, refers to a situation where a company outsources a part or all of their recruitment …

Application management
What is Six Sigma?

Six Sigma is a set of management techniques intended to improve business processes by greatly reducing the probability that an …

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