HR consultancy refers to professional services that support businesses with human resource management. It includes areas like recruitment, compliance, payroll, performance management, and HR strategy. Companies use HR consultants to improve people processes and ensure legal and operational efficiency.
A hiring manager is typically the team lead or department head responsible for filling an open position. They work closely with HR or recruiters to review candidates and conduct interviews. The hiring manager makes the final decision on who is hired for the role.
HIPAA stands for the Health Insurance Portability and Accountability Act. It establishes rules to protect the privacy and security of individuals’ medical information. Organizations handling health data must follow HIPAA guidelines to prevent unauthorized access or disclosure.
A group interview involves interviewing several candidates at the same time rather than individually. Employers use it to observe how candidates interact, communicate, and collaborate with others. This format is common for roles that require strong teamwork or customer interaction skills.
Ghosting refers to the act of ending communication abruptly without notice or response. In hiring, it often happens when candidates or employers stop replying after interviews or offers. Ghosting can negatively affect employer branding and candidate experience.
A furlough period refers to a temporary pause in work where employees are asked not to work for a specific duration. Unlike layoffs, the employment relationship continues during a furlough. Organizations use furloughs to manage costs during economic slowdowns or operational disruptions.
ESS, or Employee Self Service, is an HR tool that allows employees to manage their own information through a digital platform. It enables tasks like viewing payslips, applying for leave, and updating personal details. ESS reduces HR workload while improving employee experience and transparency.
Form 64A is an income tax form issued by business trusts to report income distributed to their unit holders. It contains details of the distributed income and the corresponding tax treatment. This form helps investors correctly report such income while filing their tax returns.
Form 49B is used by businesses and individuals to apply for a TAN, which is required for deducting or collecting tax at source. It is mandatory for employers, companies, and entities responsible for TDS or TCS. Without a TAN, tax deductions cannot be deposited or reported legally.
Form 26AS is a consolidated tax statement issued by the Income Tax Department of India. It shows details of tax deducted or collected at source, advance tax paid, and any refunds received. Taxpayers use it to verify tax credits before filing their income tax return.
Form 24G is a statement filed by government offices that deduct tax at source but do not deposit it using a standard challan. It contains details of TDS deducted and book adjustments made with the government. This form helps the Income Tax Department track and reconcile TDS transactions accurately.
Form 12C is an income tax form provided by an employer to an employee showing the value of perquisites received during a financial year. It also includes details of tax deducted on those perquisites. This form helps employees understand taxable benefits included in their salary.
Form 12BB is a declaration submitted by employees to their employer to report tax-saving investments and expenses. It includes details such as HRA, LTA, insurance premiums, and loan interest. Employers use this information to calculate the correct Tax Deducted at Source (TDS).
Forced ranking is a performance evaluation approach that compares employees within a team or organization. Managers place employees into predefined performance categories, such as high, medium, or low performers. While it helps identify top talent, it can also impact morale if not applied carefully.
The factor comparison method is a job evaluation technique used to assess the relative value of different roles. Jobs are compared using specific factors such as skill, effort, responsibility, and working conditions. This method helps organizations create fair and structured pay scales.
The full form of EVP is Employee Value Proposition. It refers to the unique mix of benefits, work culture, growth opportunities, and rewards an organization offers employees. A strong EVP helps companies attract, engage, and retain top talent.
An employee handbook is a written guide that explains an organization’s policies, procedures, and workplace expectations. It helps employees understand their rights, responsibilities, and company culture. Employers use handbooks to promote consistency and reduce workplace disputes.
Emotional resources are the internal emotional strengths people use to cope with pressure and change. They include resilience, emotional intelligence, and self-awareness. Strong emotional resources help employees stay motivated, manage stress, and maintain healthy workplace relationships.
EFQM stands for the European Foundation for Quality Management, a globally recognized excellence model. It helps organizations assess their performance, identify improvement areas, and drive sustainable growth. Companies use EFQM to strengthen leadership, strategy, and overall operational excellence.
Due diligence is the process of carefully examining a company, contract, or investment before making a decision. It helps identify financial, legal, and operational risks in advance. Businesses commonly conduct due diligence during mergers, acquisitions, partnerships, or major investments.