> If this is the new term for "employee", I'm out.

Can you please explain what's that offensive about calling somebody an Individual Contributor?

It's a little bit of weird jargon, but it acknowledges 2 important things (they're a person, and they're actually working) which is infinitely more respectful to the people that actually do the work than "Resource" that also gets used.

To me, using the word "Resource" to refer to people is by far the most dehumanizing term I've seen seriously used in an office.