The most extensive glossary of definitions used in the recruitment industry.
The four-day work week is a system where employees work four days a week instead of the traditional five. The four-day workweek has been shown to increase productivity and decrease absenteeism, while also giving employees more time to pursue outside interests.
A 401(k) is a retirement savings plan that allows employees to contribute a portion of their paycheck to a tax-deferred account. Employers may also match a portion of employee contributions.
Artificial intelligence (AI) is revolutionizing the recruitment process by making it more efficient and effective. By automating repetitive tasks such as screening resumes and scheduling interviews, AI allows recruiters to spend more time on strategic tasks such as identifying top talent and assessing cultural fit. AI is also helping to level the playing field by providing equal access to candidates regardless of their location or socio-economic background.
The abandon rate in recruitment is the percentage of job seekers who start the application process but do not complete it. A high abandon rate can be a sign that the application process is too long or complicated, or that the job is not a good fit for the candidates.
An acqui-hire is when a company acquires another company primarily to acquire their talent.
Active job seeker or active candidate is a job seeker who is actively looking for a job. They are usually unemployed or employed but seeking a new job. They may be actively searching for a job online, attending job fairs, or contacting companies directly.
An actively passive candidate is a candidate who is interested in a company or job, but who is not doing anything to pursue it.
The all-remote model is a type of work arrangement where all employees work remotely, either from home or from co-working spaces. This model is becoming increasingly popular as companies seek to reduce costs and attract and retain talent.
Annualized hours are the total number of hours worked in a year, divided by the number of weeks in a year.
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