Chapter 13 REWARDING STAFF Flashcards
What is flat rate?
A fixed amount per hour
What is time rate?
People paid according to the time they work.
What is overtime?
If they work any extra hours they are paid overtime which is a higher rate paid to employees who work extra hours.
What is piece rate?
Paid a rate per finished item that is made.
What are bonuses?
A form of payment by results, but may be dependent on the performance of all staff within the business, not just the individual.
What are fringe benefits?
Perks or benefits that are not a direct part of the salary package but which are often advertised with the job.
What is commission?
Agreement between an
employer and an employee - amount of money they get on top of their salary e.g. for every laptop they sell they get a certain
percentage
