Glossary

A list of job-related terms is explained.

  • Adaptability: The ability to adjust to new situations and learn quickly.
  • Alumni Network: A group of graduates who stay connected and offer career support to each other.
  • Annual Review: A yearly employer assessment to evaluate employee performance and set goals.
  • Application Tracking System (ATS): An ATS is software used by employers to manage job applications automatically.
  • Assessment Center: An evaluation method where candidates participate in various exercises to test their suitability for a job.
  • Benefits Package: The set of perks and advantages offered to employees by an employer, such as healthcare, retirement plans, and paid time off.
  • Behavioral Interview: An interview technique where candidates are asked to provide examples of past behaviors to assess their skills and suitability for a job.
  • Body Language: Non-verbal cues such as posture, gestures, and facial expressions convey information during interactions.
  • Budgeting: The process of creating a plan for managing expenses and income. It’s essential for individuals to ensure financial stability.
  • Business Casual: A dress code that combines elements of formal and casual attire, often appropriate for professional settings that are not overly formal.
  • Cover Letter: A letter sent alongside a resume when applying for a job, highlighting the candidate’s qualifications and interest in the position.
  • Career Fair: An event where employers and job seekers gather to discuss job opportunities, network, and exchange information about career paths.
  • Communication Skills: The ability to convey information clearly and effectively through verbal, written, and non-verbal means.
  • Conflict Resolution: The process of addressing and resolving disagreements or disputes in a constructive manner to achieve a positive outcome.
  • Company Culture: The shared values, beliefs, and practices within an organization that influence behavior, decision-making, and interactions among employees.
  • Deadline: The specific time or date a task or project must be completed. Meeting deadlines is essential for productivity and success in the workplace.
  • Decision-making: The selection of the best course of action from multiple options. Effective decision-making involves gathering information, weighing alternatives, and considering potential outcomes.
  • Dependent Care Assistance Program (DCAP): A workplace benefit that helps employees pay for eligible dependent care expenses, such as daycare or after-school programs, through pre-tax deductions from their paychecks.
  • Development Opportunities: Activities, programs, or experiences provided by employers to help employees learn new skills, advance their careers, and reach their full potential.
  • Diversity: The presence of differences among individuals in a group or organization, including but not limited to race, ethnicity, gender, age, and background.
  • Effective Time Management: The ability to prioritize tasks, set goals, and allocate time efficiently to maximize productivity and achieve desired outcomes in personal and professional contexts.
  • Email Etiquette: Guidelines for professional communication via email, including proper formatting, tone, and response times, to ensure effective and respectful correspondence.
  • Employee Benefits: Perks and advantages provided by an employer to employees as part of their compensation package, which may include healthcare coverage, retirement plans, and paid time off.
  • Entrepreneurship: The process of starting and managing a business venture, involving innovation, risk-taking, and creativity to bring new products or services to market.
  • Entry-level Position: A job role typically suited for individuals with little to no prior work experience, offering an opportunity to gain foundational skills and knowledge in a particular field.
  • Feedback: Constructive information or criticism provided to individuals about their performance, behavior, or work aimed at facilitating improvement and growth.
  • Financial Literacy: Understanding and knowledge of financial concepts, such as budgeting, saving, investing, and managing debt, essential for making informed decisions about money.
  • Flexible Work Arrangements: Work schedules or setups allow employees to adjust their hours, location, or workload to better accommodate personal needs or preferences.
  • Freelancing: Working independently on a contractual basis, offering services or skills to clients or businesses without being bound to a long-term employment contract.
  • Full-Time Equivalent (FTE): A unit used to measure the workload of an employee, representing the total hours worked by one full-time employee in a specified period, often used for budgeting and staffing purposes.
  • Goal Setting: Identifying specific objectives or targets to work towards, providing direction and motivation for personal and professional development.
  • Graduate Program: A specialized educational program typically pursued after completing an undergraduate degree, offering advanced study and training in a specific field or profession.
  • Group Interview: An interview format where multiple candidates are assessed simultaneously by one or more interviewers, often involving group discussions or collaborative activities.
  • Growth Mindset: A belief system that focuses on the potential for growth and improvement through effort, learning from failure, and embracing challenges as opportunities for development.
  • Hard Skills: Tangible and specific abilities or technical expertise required to perform tasks related to a particular job or profession, often quantifiable and teachable.
  • Health Insurance: A type of insurance coverage that pays for medical and surgical expenses incurred by the insured individual, providing financial protection against healthcare costs.
  • Hiring Manager: The individual within an organization responsible for making decisions regarding recruiting and selecting new employees for specific positions.
  • Human Resources (HR): The department within an organization responsible for managing employee-related matters, including recruitment, training, benefits administration, and employee relations.
  • Hybrid Work Model: A work arrangement that combines remote work with in-person office attendance, allowing employees to have flexibility in their work location and schedule.
  • Income Tax: The government imposes tax on individuals’ earnings or income, deducted from their paychecks or reported and paid annually.
  • Innovation: The process of creating or introducing new ideas, methods, products, or services that bring about positive change or improvement.
  • Internship: A temporary work opportunity employers provide to students or recent graduates, offering hands-on experience in a specific industry or field.
  • Interpersonal Skills: The ability to effectively communicate, interact, and build positive relationships with others in personal and professional settings.
  • Interview: A formal meeting between a job seeker and a potential employer to assess the candidate’s qualifications, skills, and suitability for a job position.
  • Job Description: A document outlining the duties, responsibilities, qualifications, and expectations associated with a particular job position within an organization.
  • Job Interview: A formal meeting between a job seeker and a potential employer to assess the candidate’s qualifications, skills, and suitability for a specific job position.
  • Job Market: The overall demand for and supply of labor within a particular industry, region, or economy, influencing job opportunities, wages, and employment trends.
  • Job Search: The process of actively looking for employment opportunities through various methods such as online job boards, networking, and contacting potential employers.
  • Job Offer: An official proposal extended by an employer to a candidate, outlining the terms and conditions of employment, including salary, benefits, and start date.
  • Kaizen: A Japanese term meaning “continuous improvement,” emphasizing the philosophy of making small, incremental changes over time to enhance efficiency and quality.
  • Key Performance Indicators (KPIs): Quantifiable metrics used to evaluate the success or performance of a particular activity, project, or individual within an organization.
  • Key Stakeholders: Individuals, groups, or organizations with a vested interest or influence in a project, decision, or outcome, whose input or support is crucial for success.
  • Kickoff Meeting: An initial meeting held at the beginning of a project or initiative to outline objectives, roles, responsibilities, and expectations among team members.
  • Knowledge Transfer: The process of sharing and disseminating knowledge, expertise, and information from one individual or group to another within an organization.
  • Leadership: The ability to inspire, influence, and guide others toward achieving common goals or objectives within an organization or team.
  • Layoff: The termination of employment by an employer due to reasons such as economic downturn, restructuring, or redundancy, often resulting in the loss of jobs for multiple employees simultaneously.
  • LinkedIn: A professional networking platform used by individuals and organizations to connect, share information, and seek job opportunities within their respective industries.
  • Learning Management System (LMS): A software application or platform used by organizations to deliver, manage, and track educational or training programs for employees, often through online courses or modules.
  • Leave of Absence: A period of time during which an employee is granted permission to be away from work for personal, medical, or other reasons, typically with approval from their employer.
  • Mentorship: A professional relationship where a more experienced individual (mentor) provides guidance, support, and advice to a less experienced person (mentee) to help them develop their skills and advance in their career.
  • Minimum Wage: The lowest hourly rate employers are legally required to pay their employees as mandated by government regulations, aimed at ensuring a basic standard of living.
  • Mission Statement: A brief statement or declaration that outlines the purpose, values, goals, and direction of an organization, serving as a guiding principle for decision-making and actions.
  • Multitasking: The ability to perform multiple tasks or activities simultaneously or switch between tasks rapidly, often seen as a valuable skill in fast-paced work environments.
  • Negotiation: The process of discussing and reaching a mutually beneficial agreement between parties to resolve conflicts, make deals, or settle terms, often involving compromise and communication skills.
  • Networking: The process of building and maintaining professional relationships with individuals in one’s industry or field, often with the goal of exchanging information, support, and job opportunities.
  • New Hire Orientation: An introductory program or session conducted by employers to familiarize new employees with company policies, procedures, culture, and expectations.
  • Nominal Salary: The base salary or wage paid to an employee before deductions, bonuses, or other additional compensation, often stated as an annual or monthly amount.
  • Nonprofit Organization: An organization that operates for purposes other than making a profit, such as charitable, educational, or humanitarian goals, often relying on donations, grants, or government funding.
  • Onboarding: The process of integrating and orienting new employees into an organization, typically involving training, introductions to company policies, and familiarization with job responsibilities.
  • Open-Ended Questions: Questions that require more than a simple “yes” or “no” answer, encouraging respondents to provide detailed explanations or opinions, often used in interviews and surveys to gather information.
  • Organizational Culture: The shared values, beliefs, norms, and behaviors within an organization, shaping its identity and influencing the attitudes and interactions of employees.
  • Outsourcing: The practice of contracting out certain business functions or tasks to external third-party vendors or service providers, often to reduce costs, access specialized expertise, or focus on core competencies.
  • Overqualification: A situation where an individual possesses qualifications, skills, or experience that exceed the requirements of a job position, potentially leading to dissatisfaction, underutilization, or difficulty in securing employment at an appropriate level.
  • Payroll: The total amount of money paid by a company to its employees for their work during a specific period, usually processed on a regular schedule such as weekly or monthly.
  • Performance Evaluation: A process where an employee’s job performance is assessed by their manager or employer, often involving feedback, goal-setting, and discussions about strengths and areas for improvement.
  • Professional Development: Activities and opportunities that help individuals improve their skills, knowledge, and abilities related to their job or career, such as training programs, workshops, and continuing education courses.
  • Profit Margin: The percentage of revenue that exceeds the costs of production or operation, indicating a company’s profitability and efficiency in generating profits from its business activities.
  • Project Management: The process of planning, organizing, executing, and controlling the resources and tasks required to achieve specific objectives within a defined timeframe and budget, often involving coordination among team members and stakeholders.
  • Qualifications: Skills, education, or experience that make someone suitable for a particular job or task.
  • Quarterly Report: A summary of a company’s financial performance and activities, typically issued every three months to shareholders and stakeholders.
  • Quality Control: Procedures and measures taken to ensure that products or services meet specified standards and requirements to maintain consistency and customer satisfaction.
  • QuickBooks: Accounting software businesses use for invoicing, expense tracking, and financial reporting.
  • Reference: A person who can vouch for a job candidate’s qualifications, skills, and character is often contacted by employers during the hiring process.
  • Remote Work: Work performed outside a traditional office environment, often from home or another location, using digital communication tools and technology.
  • Resume: A document summarizing an individual’s education, work experience, skills, and achievements, typically submitted when applying for a job.
  • Retirement Plan: A savings and investment strategy designed to provide financial support and security for individuals after they stop working, typically including options such as 401(k) plans or individual retirement accounts (IRAs).
  • Risk Management: The process of identifying, assessing, and mitigating potential risks or uncertainties that could impact the success or objectives of a project, organization, or individual.
  • Salary: The amount of money paid to an employee in exchange for their work, typically on a regular basis such as weekly or monthly.
  • Soft Skills: Personal attributes and qualities that enhance interpersonal relationships and communication, such as teamwork, adaptability, and problem-solving.
  • Stakeholder: Any individual, group, or organization with an interest or concern in a project, decision, or outcome that can influence or be affected by it.
  • SWOT Analysis: A strategic planning tool used to identify Strengths, Weaknesses, Opportunities, and Threats related to a business or project, helping to inform decision-making and strategy development.
  • Tax Deduction: A reduction in taxable income that lowers the income subject to taxation, often based on eligible expenses such as charitable donations or business expenses.
  • Teamwork: Collaborative effort by a group to achieve a common goal or objective, often involving communication, coordination, and mutual support.
  • Telecommuting: Working remotely or from home using telecommunication technologies to stay connected with colleagues and complete job tasks.
  • Time Management: The ability to prioritize tasks, allocate time effectively, and organize one’s schedule to maximize productivity and accomplish goals.
  • Training: Instruction or education provided to individuals to improve their knowledge, skills, and abilities related to their job or profession.
  • Unemployment Rate: The percentage of the total labor force that is unemployed and actively seeking employment, used as an indicator of economic health.
  • Upward Mobility: The ability or opportunity for individuals to advance in their careers, achieve higher positions, and increase their earning potential over time.
  • User Experience (UX): The overall experience and satisfaction of a person when interacting with a product, service, or system, encompassing factors such as ease of use, accessibility, and functionality.
  • Underemployment: A situation where individuals are employed in jobs that are below their skill level, qualifications, or earning potential, often resulting in dissatisfaction or financial strain.
  • Unpaid Internship: An opportunity where individuals gain experience and skills in a specific field or industry without receiving monetary compensation, typically offered by organizations, educational institutions, or non-profits.
  • Vacation Time: Paid time off from work that employees are entitled to take for leisure, relaxation, or personal activities, typically accrued based on length of employment.
  • Virtual Interview: An interview conducted remotely using video conferencing technology, allowing candidates and employers to interact without being in the same physical location.
  • Vision Statement: A concise declaration of an organization’s long-term aspirations, goals, and objectives, outlining its desired future state and direction.
  • Volunteer Work: Activities undertaken by individuals without monetary compensation, typically performed to benefit others or contribute to a cause, organization, or community.
  • Vendor Management: The process of overseeing relationships and interactions with external suppliers, contractors, or vendors to ensure goods and services are delivered efficiently and meet quality standards.
  • Work-Life Balance: The equilibrium between personal life and work responsibilities, ensuring individuals have time for leisure, family, and other non-work activities.
  • Workplace Diversity: The presence of a variety of individuals, including differences in race, gender, age, ethnicity, sexual orientation, and background, within a workplace.
  • Workflow: The sequence of tasks, activities, and processes required to complete a specific job or project, often visualized as a series of steps or stages.
  • Workforce Development: Initiatives and programs aimed at enhancing the skills, knowledge, and abilities of employees to improve their performance and productivity in the workplace.
  • Webinar: A seminar or presentation conducted over the Internet, allowing participants to attend remotely and interact with presenters through online platforms.
  • Xenophobia: A fear or aversion towards people from other countries or cultures, often resulting in prejudice, discrimination, or hostility towards foreigners or immigrants.
  • Yearly Review: An annual assessment conducted by employers to evaluate employee performance, provide feedback, and set goals for the upcoming year.
  • Young Professional: A term commonly used to refer to individuals who are relatively new to their career or profession, often used to describe recent graduates or those early in their careers.
  • Zero-based Budgeting: A budgeting technique where all expenses must be justified for each new budget period, starting from zero, rather than basing it on previous spending.
  • Zone of Proximal Development (ZPD): A concept in education theory referring to the range of tasks a learner can perform with assistance but not independently, indicating the potential for learning and development.
  • Zoom Meeting: A video conferencing session conducted using the Zoom platform, allowing participants to communicate and collaborate remotely through video, audio, and screen-sharing features.