Agency refers to the relationship between two parties where one, the agent, represents or acts on behalf of the other, the principal, in various contexts such as finance, government, investment, and personnel.
A function in accounting refers to a specific section or department of an organization that carries out discrete activities managed by a director or manager. Functional budgets are often created for these sections. Examples include production, sales, finance, and personnel.
A labor pool refers to a source of trained personnel from which prospective workers are recruited.
Personnel refers to the people who actually compose an organization's workforce. In other words, it is synonymous with Human Resources (HR) and entails the management and development of employees within an organization.
Staff refers to personnel employed in an organization, performing various roles and functions necessary for the organization's operations. It can also denote specific management functions in the context of line and staff management.
