Talent management		Annualized formula that tracks number of separations and total number of workforce employees per month.
Workforce profile		All activities needed to ensure that workforce size and competencies meet the organization’s strategic needs.
Reduction in force (RIF)		Development and integration of HR processes that retain the knowledge, skills, and abilities of employees that will meet current and future organizational needs.
Independent contractors		Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.
Judgmental forecasts		Systematic approach to anticipate human capital needs and data HR professionals can use to ensure that appropriate knowledge, skills, or abilities will be available when needed to accomplish organizational goals and objectives.
Replacement planning		Process of investigating a decision thoroughly before finalizing it to identify all potential factors that could affect the positive and negative impacts of the decision.
Turnover		Process of implementing a talent management strategy for identifying and fostering the development of high-potential employees or other job candidates who, over time, may move into leadership positions of increased responsibility.
Turnover rate		Representations of real situations; give organizations the opportunity to speculate as to what would happen if certain courses of action were pursued.
Co-employment		Process of creating, acquiring, sharing, and managing knowledge to augment individual and organizational performance.
Simulations		Situation in which an organization shares responsibility and liability for its alternative workers with an alternative staffing supplier; also known as joint employment.
Joint employment		Termination of employment of individual employees or groups of employees for reasons other than performance, for example, economic necessity or restructuring; also known as downsizing.
Succession planning		Use of information from past and present to predict future conditions.
Workforce planning		Act of replacing employees leaving an organization; attrition or loss of employees.
Due diligence		Situation in which an organization shares responsibility and liability for its alternative workers with an alternative staffing supplier; also known as co-employment.
Workforce management		Self-employed individuals hired on a contract basis for specialized services.
Downsizing		“Snapshot” assessment of the availability of qualified backup for key positions.
Regression analysis		Activities needed to ensure that workforce size and competencies meet current and future organizational and individual needs.
Restructuring		Part of workforce analysis that identifies the current make-up of employees in terms of their demographics, skills, competencies, performance levels, expected retirement dates, pay grades, and other factors that help explain the workforce’s composition.
Workforce Analysis		Termination of employment of individual employees or groups of employees for reasons other than performance, for example, economic necessity or restructuring; also known as reduction in force (RIF).
Knowledge management (KM)		Act of reorganizing the legal, ownership, operational, or other structures of an organization.