Buzzwords are commonly used terms or phrases that are connected with a specialized field, such as Human Resource Development (HRD). These words may be true to their conventional meaning, or unfamiliar and difficult to understand for those unassociated with the field in which they are used. Buzzwords may gain or lose popularity, depending on the popularity of the trend or information for which they were created.
Five buzzwords relevant to workplace performance and their definitions are as follows:
- Intellectual capital refers to the ideas and knowledge that employees own that make a company competitive.
- Knowledge sharing is the exchange of information, skills, or expertise among select members of an organization that forms a valuable intangible asset that is typically not shared with the entire organization.
- Multifunctional refers to a person who possesses or satisfies many or multiple functions.
- Skills gap is the difference between the skills needed for the job and the skills possessed by the employee or applicant.
- Talent management is the practice of shaping and nurturing new employees into an organization’s culture, shaping and nurturing current employees, and drawing highly skilled workers to work for an organization.