Attrition is the normal and uncontrollable reduction of a workforce due to retirement, death, sickness, and relocation. It provides a natural way for organizations to reduce their workforce without taking overt management actions, though it can lead to unpredictability and gaps.
Human Resource Accounting (HRA) involves reporting and emphasizing the value of the contributions of skilled and loyal employees to a firm's earning potential, and matching an organization's job requirements with the skills and abilities of its labor force in terms of measuring employee productivity contributions.
Human Resources Management (HRM) represents an evolution from traditional personnel management, placing emphasis on leveraging an organization's human resources to achieve strategic goals. HRM encompasses recruitment, compensation, employee relations, and policy development to maximize employee performance and satisfaction.
A Professional Employer Organization (PEO) is a staffing firm that provides employees to another company through employee leasing or staff leasing. In exchange for a fee from the client company, the PEO manages various HR responsibilities, including wage payments, tax submissions, and employee benefits.
