T
Talent acquisition
The processes involved in attracting, sourcing and recruiting workers. This includes employment branding, social media, networking, advertising, events and relationship building with potential candidates.
Talent management
The processes of attracting, sourcing, selecting, developing and progressing workers. The aim is to improve revenue, customer satisfaction, quality, productivity, cost, cycle time, and market capitalisation. The major aspects of talent management normally include workforce planning, recruiting, performance management and learning and development. It should be noted outside of Hays Talent Solutions this term is generally only used to refer to those processes regarding permanent employees.
Talent pool
A talent pool is a group of both passive and active candidates, built over time, with common interests, location or skills who are potential targets for the sourcing of future candidates. This could comprise of deferred applications, speculative applications, responses to evergreen campaigns. The can receive regular newsletters and other e-mails to keep them engaged.
TAW - Temporary Agency Worker
This is a formal legal description in Europe used to describe a temporary worker supplied via an intermediary such as a recruiting / staffing company.
TCO - Total Cost of Ownership
This is a financial estimate that includes direct and indirect costs of a service or product.
TTM - Total Talent Management
Workforce management that includes an organisation’s management of permanently hired workers as well as contingent workers. Some organisations will also refer to this a blended RPO, when contingent workers are included in a Recruitment Process Outsourcing contract. Read more about Total Talent Management.
T&M – Time and Materials
Where a worker is engaged and compensated for hours, days or weeks worked. Materials used or expenses incurred are also added.
TUPE - Transfer of Undertakings Protection of Employment
This is a UK legislation based on the European Union Business Transfers Directive that protects the rights of current employees when a service is transferred to another provider. The employee’s contract of employment transfers to the new employer, including terms and conditions of employment, continuity of service, redundancy payments, etc.