Glossary of HR Terms starting with Alphabet M
Managed care: General term for a medical plan that seeks to ensure that the treatments a person receives are medically necessary and provided in a cost-effective manner.
Management by objectives: Specifies the performance goals that an individual hopes to attain within an appropriate length of time.
Management consultant: An individual who works independently to assist and advise clients with managerial responsibilities regarding various organizational issues.
Management development: Training and development programs designed to provide new managers and existing managers with the resources needed to become more effective in their roles.
Management rights: Those rights reserved to the employer to manage, direct, and control its business.
Managerial estimates: Projections made by managers; can happen from the top down or the bottom up.
Mandated benefits: Those benefits which employers in the United States must provide to employees by law.
Mandatory issues: Collective bargaining issues that are identified specifically by labor laws or court decisions as being subject to bargaining.
Manpower planning: The process of assessing an employer’s current workforce content and composition in order to anticipate future staffing requirements needed to meet business goals and requirements.
Marginal functions: Functions that are part of a job but are incidental or ancillary to the purpose and nature of a job.
Market line: The line on a graph showing the relationship between job value, as determined by job evaluation points, and pay survey rates.
Market price: Typical wage paid for a job in the immediate labor market.
Masculinity/Femininity: Dimension of culture that refers to the degree to which “masculine” values prevail over “feminine” values.
Massed practice: The performance of all of the practice at once.
Master vendor arrangement: A type of flexible staffing option in which one staffing firm supplies all needed temporary employees.
Matrix organization: An organizational structure where employees report to more than one manager or supervisor.
Mean wage: The average wage for a worker in a specified position, which is determined by adding together the total wages for all incumbents in a specific position and then dividing it by the total number of incumbents.
Median: The middle value in a series of values arranged in rank order.
Median wage: The margin between the highest paid 50 percent and the lowest paid 50 percent of workers in a specific position or occupation.
Mediation: Process by which a third party assists negotiators in their discussions and also suggests settlement proposals.
Mental ability tests: Tests that measure reasoning capabilities.
Mentoring: A career development method whereby less experienced employees are matched with more experienced colleagues for guidance either through formal or informal programs.
Merger: The joining of two or more different organizations under one common owner and management structure.
Metrics: A measure used to determine the effectiveness and value of implemented HR programs in increasing performance and profits.
Merit pay: A compensation system whereby base pay increases are determined by individual performance.
Minimum wage: The smallest hourly wage that an employee may be paid for all hours worked, as mandated by federal or state law.
Mission statement: A statement illustrating what the company is, what the company does and where the company is headed.
Moonlighting: Work outside a person’s regular employment that takes 12 or more additional hours per week.
Motivation: The desire within a person causing that person to act.
Multinational enterprise: An organization with units located in foreign countries.