Dictionary-of-Human-Resources-Management

compatible 54 competitive edge
gether the compatibility of employees
sharing an office
compatible /kəmptIb(ə)l/ adjective
which can exist or function together
It soon became clear that the new
member of staff was not compatible with
his colleagues. Are the objectives of
senior management and the interests of
the employees compatible?
compensate /kɒmpənseIt/ verb to
give someone money to make up for a
loss or injury In this case we will compensate
a manager for loss of commission.
The company will compensate
the employee for the burns suffered in
the accident. (NOTE: you compensate
someone for something)
compensation /kɒmpənseIʃ(ə)n/
noun 1. compensation for damage
payment for damage done compensation
for loss of office payment to a director
who is asked to leave a company
before their contract ends compensation
for loss of earnings payment to
someone who has stopped earning
money or who is not able to earn money
2. US a salary
‘…compensation can also be via the magistrates
courts for relatively minor injuries’
[Personnel Management]
compensation package
/kɒmpənseIʃ(ə)n pkIdʒ/ noun a
salary, pension and other benefits offered
with a job
‘…golden parachutes are liberal compensation
packages given to executives leaving a
company’ [Publishers Weekly]
compensatory /kɒmpənseIt(ə)ri/
adjective which compensates for
something
compensatory award /kɒmpən-
seIt(ə)ri əwɔd/ noun an award by an
industrial tribunal based on what the tribunal
considers is just compensation for
the employee’s loss of pension rights,
etc., when dismissed
compete /kəmpit/ verb to compete
with someone, with a company to
try to do better than another person or
another company We have to compete
with cheap imports from the Far East.
They were competing unsuccessfully
with local companies on their home territory.
two companies are competing
for a market share or for a contract
each company is trying to win a larger
part of the market or to win the contract
competence /kɒmpIt(ə)ns/ noun
the ability to do the tasks required in a
job The training sessions are intended
to increase staff competence.
competence framework
/kɒmpIt(ə)ns freImwk/ noun the
set of duties or tasks performed as part
of a job with the standards which should
be achieved in these duties
competency /kɒmpIt(ə)nsi/ noun
same as competence
competency statement
/kɒmpIt(ə)nsi steItmənt/ noun a list
of qualities which an employee needs to
do their work
competent /kɒmpIt(ə)nt/ adjective
able to do the tasks required in a job
competing /kəmpitIŋ/ adjective
which competes competing firms
firms which compete with each other
competing products products from different
companies which have the same
use and are sold in the same markets at
similar prices
competition /kɒmpətIʃ(ə)n/ noun
the action of companies or individuals
who are trying to do better than others,
to win a larger share of the market, to
control the use of resources, etc.
‘…profit margins in the industries most exposed
to foreign competition are worse than usual’
[Sunday Times]
‘…competition is steadily increasing and could
affect profit margins as the company tries to
retain its market share’ [Citizen (Ottawa)]
competitive /kəmpetItIv/ adjective
which competes fairly competitive
price a low price aimed to compete with
a rival product competitive product a
product made to compete with existing
products
‘…the company blamed fiercely competitive
market conditions in Europe for a £14m
operating loss last year’ [Financial Times]
competitive edge /kəmpetItIv
edʒ/, competitive advantage
/kəmpetItIv ədvɑntIdʒ/ noun an
advantage that one company or product
has over its rivals in the market Any
competitive edge we have in this market
is due to our good after-sales service.