Human Resources Glossary - L

Labor Force

The total number of people currently employed plus the number of unemployed people who are seeking employment.

Labor Market

This refers to the supply and demand for employment.

Labor Turnover

A metric that refers to an organization’s net employee separations or attrition over a period of time.

Leadership Behaviors

This refers to the combination of distinct characteristics that leaders have and the actions they make.

Learning and Development (L&D)

A program that provides employees with the skills and knowledge they need to grow in their roles and help them contribute to the growth of the company.

Leave Accrual Processing

A system HR teams use to keep track of employee leave awards and balances.

Leave of Absence

The amount of time which employees can spend away from their normal work schedule without jeopardizing their job standing.

Leave Management Software

A type of software utilized to make time-off requests for all types of leave easier for employees.

Letter of Employment

Also known as an employment verification letter, this is made by an employer to verify an employee’s working status, confirming the employee’s job title, salary, history at the organization and the organization’s contact information.

Letter of Termination

A formal notice given to an employee informing them that they will be dismissed from their current employment.