HR Acronyms, Definitions and Abbreviations
In the course of our communication with friends, candidates, clients and even family members, many types of acronym, definition and abbreviation have been bandied around with related to HR.
- Is it HR (Human Resource) or HC (Human Capital) ?
- It’s the same thing. Resource seems negative, where else Capital seems to stress on assets (more positive)
- Do we call “Job Agency“, “Recruitment Agency” or “Search firm” ?
- All are the same, just different way of naming
- Are you providing “payroll system” or “payroll software” or “payroll outsourcing” ?
- Payroll System & Payroll Software typically refers to the application itself which is the “Software“; whereby users use the software themselves
- Payroll Outsource definition are geared towards “Services” whereby clients may out outsource total payroll processing to vendor regardless of whatever software that they use
- What is the scope of services in “HR Payroll Solutions” or “Staffing” ?
- Can be defined and narrowed down as Contract Staffing whereby vendor manages Contract Staff on behalf of clients; Vendor is the legal employer of the Contract Staff
- The scope of services may include on-boarding, letter of offer, orientation, leave & claim management, payroll administration, exit interview among others
- What is “Staffing Services” and what is the difference with “Staffing Recruitment Agency” ?
- For us, it is the same as Contract Staffing, whereby besides managing Contract Staff on behalf of client, we also source for suitable candidates
So many questions, so many interpretations. We have detailed out and explain our services in a lay man easy to understand jargons.