Building the business

Question 1

Remuneration

Answer 1

Using a wage and a good salary to attract and motivate the employee e.g. if a worker works extra hours then they may receive overtime payment.

Question 2

Bonuses and commission

Answer 2

Bonus: An additional amount of money paid to an employee if they achieve a target or high level of performance.

Commission: A commission is an extra amount of money paid to an employee, usually if they make a certain number of sales.

Question 3

Promotion

Answer 3

This is when an employee is given a more senior role in a business or organisation, this could boost their salaries and motivation.

Question 4

Fringe benefits

Answer 4

These are benefits offered by other by a business that financially benefit an employee.