Englisch II

Human capital is a measure of the economic value of an employee's skill set. The concept of human capital recognizes that not all labor is equal and that the quality of employees can be improved by investing in them.

Staffing equals finding employees for the company. Staffing is executed by the Human Resources department. The latter follows a clear strategy on how to find the best people for the jobs.

Equal opportunities mean that candidates are not selected on the grounds of their gender, race, age, disability etc.

A payroll is a list of all employees and how much each one earns.

Arbitration is a process, after all talks between the management and the employees’ side break down, where a judge (or perhaps a government appointed official) makes a decision which is legally binding on both sides.

Freelancer is a person who is self-employed and is not necessarily committed to a particular employer long-term. Freelancers are often brought in to do jobs that were previously done in-house.

Headhunting is the activity of discretely approaching employees of one company and asking them if they want to work for another.

Shortlisted candidates have gone through to the final interview stage.

A commission is one way of offering additional financial incentives to the employees to the already basic compensation, i.e. the salary. A Commission is a fixed percentage of every sales an employee makes.

Fringe benefits are other benefits employees can also receive, e.g. sick-leave or holiday pay.

Understudy means working closely with the boss and perhaps doing some of their jobs – also called „shadowing“.