Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Commerce term 3 2023 > Employment + Work Futures > Flashcards

Employment + Work Futures Flashcards

1
Q

How does work contribute to the wellbeing of individuals and society?

A
  • Earning an income
  • Exchanging money for goods and services
  • Having the ability to buy what you need and want
  • Creating and maintaining a good standard of living
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Explain the role / importance of current and future financial benefits from work for wellbeing of individuals and households

A

Financial benefits:

Health insurance cover; Holiday bonus; Retirement plans; Education financing, paid leaves.

Benefits such as these provide long term security in the form of pensions, and healthcare, …as well as current benefits : ie paid leave + holiday bonuses, which heavily impact the current financial stability and wellbeing of an individual.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Describe non-financial benefits of work for personal wellbeing

A
  • Opportunity to use your skills and abilities
  • Socialising regularly
  • Able to develop a passion and purpose
  • Increases self-esteem, confidence and happiness
  • Develops your natural strengths and talents
  • Sense of belonging by being a part of a group or team.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

o Describe the different forms of income households can receive?

A

wages, salaries, commission, profits & dividends

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Describe income in terms of WAGES

A

payment for employee’s, for work done in a specific period of time.

EG: compensatory payments such as minimum wage, prevailing wage, and yearly bonuses, and remunerative payments such as prizes and tip payouts.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Describe income in terms of SALARY

A

A form of periodic payment from an employer to an employee, which may be specified in an employment contract.

It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Describe income in terms of COMMISSION

A

An amount paid to an employee based on how much they sell.

Normally, the commission payment is calculated as a fee or percentage of the employee’s total sales.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Describe income in terms of PROFIT

A

The situation in which the pay of employees is related to the profit made by the employer.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Describe income in terms of DIVIDEND

A

A sum of money paid regularly (typically annually) by a company to its shareholders out of its profits (or reserves).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Describe some non-financial rewards employers can provide to employees

A
  • Awards
  • Work flexibility
  • Facilities at work e.g gym
  • Food
  • Professional development
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Who are the main participants in the workplace?

A
  • Employees
    -Trade Unions
    -Employers
    -Employer Associations
    -Contractors
    -Governments.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Explain the roles of these participants in Dreamscape: EMPLOYEES

A

Provides the resources for the firm’s income, in exchange for payment.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Explain the roles of these participants in Dreamscape: TRADE UNIONS

A

Game Workers Australia, a Union with membership fees of $74 per month.

The union offered to help the employees negotiate an enterprise agreement with their employers at Dreamscape,:The union argues that a fixed pay scale would guarantee job security and prevent pay discrepancies based on subjective evaluations.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Explain the roles of these participants in Dreamscape:EMPLOYERS

A

To pay employees in exchange for their work and ensure worker’s well being

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Explain the roles of these participants in Dreamscape: EMPLOYER ASSOC.

A

Employer associations act on behalf of employers in collective bargaining sessions and before industrial tribunals and courts.

They provide advice and negotiate agreements and lobby governments with the views of employers.

The Australian Industry Group is one example of an employer association.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Explain the roles of these participants in Dreamscape: CONTRACTORS

A

The selling of services to Dreamscape

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Explain the roles of these participants in Dreamscape: GOV’S.

A

Ensuring the rights of employees/employers are upheld

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

WHS LEGISLATION: outline 3 areas ?

A

Equal employment opportunity and anti-discrimination legislation

The Fair Work Act 2009 (Cth)

Fair Work Commission

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Explain Equal employment opportunity and anti-discrimination legislation

A

In NSW: ,legislation that governs EEO (Equal Employment Opportunity) is the Anti-Discrimination Act 1977 (NSW).

This legislation prohibits discrimination, among other things, on the grounds of race, work status, gender identity and sexual orientation. Sexual harassment in the workplace is also prohibited.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Explain The Fair Work Act 2009

A

The Fair Work Act governs the employment of mature age workers.

It provides for terms and conditions of employment and sets out the rights and responsibilities of employees, employers and employee organisations in relation to that employment.

E,g the right to request flexible working arrangements; modern awards; provisions relating to notice of termination of employment; and the general protections provisions.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Explain Fair Work Commission

A

Australia’s workplace “relations tribunal” and registered organisations regulator.

Makes awards, approves enterprise agreements and helps resolve issues at work.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Why do workers have different working arrangements and what are strengths and weaknesses of each?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

why may businesses wish to have different types of working arrangements?

A

Offering flexible working to employees can boost staff morale and improve their physical and mental well-being. When staff members enjoy flexible work arrangements, they are likely to be less tired and better rested, reducing the risks of fatigue, burnout and stress - lower absenteeism - increased productivity.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

why may workers wish to have different types of working arrangements?

A

Greater job satisfaction. lower levels of workplace stress, individual treatment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Explain strengths and weaknesses of different working arrangements for individuals in different personal and professional contexts

A

Consider employed, self-employed, voluntary, part-time, full-time, casual, paid, unpaid, apprenticeships, traineeships: you may wish to define this more !!

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Explain paid vs unpaid work?

A

● Paid work results in earning an income
● Unpaid work involves performing tasks without receiving any form of monetary compensation e.g. voluntary work or housework

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

What are the different types of work?

A

Full time
part time
Casual
Self-employed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

what are the features of full-time work?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

what are the features of part-time work?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

what are the features of casual work?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

what are the features of self-employed work?

A
32
Q

What is Volunteer work?

A

● Volunteers do not receive income for the work they do, but still play an essential role in society.
● Some examples of this work include the rural fire service, surf lifesavers and the SES.

33
Q

What are some types of ways you can get paid whilst still learning:

A

● There a range of jobs you can get that are a combination of education and training:
○ Traineeship – to gain a qualification.
○ Apprenticeship – to become qualified in a trade.
○ Internship – to gain working experience.
○ Cadetship – to gain practical experience in a field of study.

34
Q

o Discuss the impact continued education/training will have on employees and the business

A

● provides job enrichment by enabling employees to grow their knowledge and reap the benefits of specific skills.
● increases employee morale, confidence and job satisfaction.
● empowers staff to tackle new situations confidently.
● improves loyalty resulting in reduced staff turnover.

35
Q

What career progression, education, and/or training and development opportunities are available?

A

A high-quality, comprehensive training program e.g digital programs/conferences/training days, provides employees a greater understanding of your organisation’s processes, procedures, and goals. It also enables them with the knowledge and skills they need to be effective in their roles.

36
Q

o Provide examples of avenues for career progression for workers in relevant industries:

Consider examples of training that would be appropriate for Dreamscape employees

A

Courses, conferences, training workshops, seminars and e-learning programs

Peter - full time game producer

Debbie - Full time marketing manager + commission

Claire - Full time game designer

37
Q

What are the 4 different types of contracts for workers?

A

○ Modern award

○ Enterprise agreements

○ Individual contracts

○ Independent contractors

38
Q

Outline the benefits and limitations of a workplace + definition using MODERN AWARDS?

A
  • Modern awards set the minimum entitlements employees must receive in their industry
  • Modern awards are set by a government organisation called the Fair Work Commission
  • Every industry has their own Modern Award
39
Q

Outline the benefits and limitations of a workplace using ENTERPRISE AGREEMENTS ?

A
  • An Enterprise Agreement is a contract that is negotiated and agreed upon by employees and their employers
  • It offers more detailed or specific terms and conditions compared to the Modern Award
  • It may include better terms and conditions than the Modern Award to entice employees to join the company (such as better pay than minimum wage)
40
Q

Outline the benefits and limitations of a workplace using INDIVIDUAL CONTRACTS ?

A
  • An Individual Contract (or Common Law Contract) is a contract for one person, negotiated privately and agreed upon by the employee and employer
  • Individual Contracts sometimes have a ‘confidentiality clause’ meaning the employee is not allowed to disclose the terms and conditions to their colleagues – why might an employer include this?
41
Q

Outline the benefits and limitations of a workplace using INDEPENDENT CONTRACTORS ?

A

An independent contractor is someone who is self-employed and provides services to clients.

It’s also known as contracting or sub-contracting.

Usually, independent contractors set up as a sole trader and run their business with their own Australian Business Number (ABN). e.g Photographer, mason. Negative - Confidentiality clause

42
Q

How are employees recruited and selected?

A

External and Internal recruitment

43
Q

What is recruitment ?

A
  • Recruitment Involves finding and attracting the right people to apply for a job vacancy using advertisements, employment agencies or word of mouth.
  • Appointing someone already within the business to a vacancy.
  • Find suitable applicants from outside the business
44
Q

What are the benefits of external recruitment ?

A
  • Wider range of applicants
  • Bring new ideas and fresh approaches to tasks
  • Allows for rapid growth as more staff members join
  • Selection Accuracy (You know the person !)
  • Bring fresh new ideas and innovation
45
Q

What are the disadvantages of external recruitment ?

A
  • More costly
  • Longer time to fill vacancies
  • Existing employees may resent the new employee
  • Less experience with current business
46
Q

What are the benefits of internal recruitment?

A
  • Employees already known
  • Applicants familiar with the business
  • Creates a career path within the business to reward employees
  • ●Incentive to improve performance
  • ●Promotion seen as reward for effective work
  • ●Lower costs
  • ●Vacancies filled more quickly
47
Q

What are the disadvantages of internal recruitment?

A

Can create “competitive culture” between existing staff members
●Denying the business of “new ideas” from recruiting externally
●The existing employees not chosen may become “unmotivated”

48
Q

Describe appropriate methods of selection that can be used to choose the most suitable candidate for a vacancy at Dreamscape

A
  • Written application, testing (e.g Psychometric testing) and interviews
  • (Maybe) Internal/external recruitment
48
Q

What is the dispute process in WORKPLACES?

A

A workplace/industrial dispute is a problem that arises between an employer and employees or between employees at work
* Workplace dispute resolution is the formal process of resolving an issue in the workplace
* The dispute resolution process is used when people cannot come to an agreement themselves, or if the matter is of a serious nature

49
Q

What are the steps of the dispute resolution process?
(In order)

A
  1. Grievance procedures:
  2. Negotiation:
  3. Mediation:
  4. Conciliation
  5. Arbitration
50
Q

Define and give example of Grievance procedures

A

Definition: A formal way for an employee to raise problem/complaint to their employer
Example: HR/Supervisor write employees statement in formal document

51
Q

Define and give example of a Negotiation?

A

Definition: Negotiation is parties identifying an issue and meeting to fix it—they control the process and the solution.

Example:

52
Q

Define and give example of Mediation?

A

Definition: Mediation is a type of assisted negotiation. During mediation, parties obtain the help of a neutral third party (the mediator) to help them resolve the dispute.

Mediation can be informal, where the mediator is a friend, family member, or trusted advisor.

The process can also be formal, where the parties hire a professional, neutral third party.

Formal mediators are trained in negotiations and help parties solve the issue to satisfy both sides. In either case, the purpose of a mediator is not to decide whether a party is wrong or right—the goal is to help the parties find a mutually acceptable resolution. While conversations during mediation are confidential, it is usually possible for the written agreement that results from mediation to be made legally binding.

Mediation is particularly useful if parties believe that they cannot resolve a dispute on their own.

Example: Family dispute over finances ??

53
Q

Define and give an example of Conciliation?

A

Definition: Conciliation, like mediation, is confidential, voluntary, and flexible.

It is also facilitated by a neutral third party (a conciliator) and focused on reaching a dispute resolution that both parties consider satisfactory.

Unlike in mediation, the conciliator provides parties with a proposal to resolve the issue, and the parties work from there.

The presented proposal is non-binding—although, like in mediation, any formal agreements struck after conciliation can be made legally binding.

Example:??

54
Q

Define and give an example of Arbitration?

A

Definition: Arbitration is more formal than negotiation, mediation, or conciliation, and can look more like litigation.

Parties submit their dispute to an arbitrator who renders a decision following the process. Parties can agree to arbitrate before or after a conflict occurs.

The real benefit over formal litigation (in addition to cost and efficiency) is that the parties in an arbitration have the freedom to set the rules of arbitration, which can be much more flexible than formal civil procedure required in court.

For example, parties can select the number of arbitrators, the forum, and fees. Arbitrators also have a great deal of flexibility to work with the parties in front of them in a way even a judge may not. This type of process can help parties save time and expense associated with litigation.

Example:??

55
Q

Outline the role of the Fair Work Commission in resolving workplace disputes?

A

A number of government organisations hold employers to these responsibilities. The most influential of these is the Fair Work Commission (FWC).

The Fair Work Commission is Australia’s
national workplace relations tribunal and is responsible for administering
the provisions of the Fair Work Act 2009.

The Commission’s powers and functions include setting the national minimum wage and minimum wages in modern awards, approving, varying and terminating enterprise agreements, and dealing with unfair dismissal, anti-bullying and general protection claims.

The Commission does not enforce compliance with the Fair Work Act. The Fair Work Ombudsman’s role includes enforcing compliance with the Act and educating people about fair work practices, rights and obligations.

56
Q

What obligations do employers and employees face?

A

Employers must:
1. Provide work
2. Pay workers
3. Follow government legislation
4. Show a duty of care to their workers

Employees must:
1. Follow reasonable commands
2. Use due care and skill to the level of one’s qualifications and experience
3. Act in the interests of the employer

57
Q

What are the 3 different types of DIRECT TAX?

A

Personal Income Tax
Sole Trader Tax
Company Tax

58
Q

What is Tax?

A
  • Taxation is a compulsory financial charge that is imposed by governments and is used for public spending.
59
Q

What is direct tax?

A
  • Direct tax is a tax that is collected from an individual or business on the basis of income, e.g. personal income tax and company tax.
60
Q

What is indirect tax?

A
  • Indirect Tax is a tax that is levied on production or expenditure, e.g. Goods and Services Tax (GST), excise duty on fuel and alcohol
61
Q

What are the responsibilities of employers for superannuation?
o Outline the superannuation entitlements for employers

A

All employers must pay a minimum of 11% super for all eligible staff, whether they’re full-time, part-time or casual.

This legislation ensures that working Australians are guaranteed to have some level of retirement savings.

For contractors: Under the superannuation guarantee, employers have to pay superannuation contributions of 11% of an employee’s ordinary time earnings when an employee is: over 18 years, or. under 18 years and works over 30 hours a week.

62
Q

Explain the changing patterns and trends in the nature of work in Australia:

A

Increased job mobility, increase in casual work, automation of jobs through technology.

63
Q

What does Pro rata mean?

A

a Latin term that translates to “in proportion”.

It is commonly used when an employee works for only a portion of the regular pay period.

For example, if someone works 2.5 days of a 5 day work week, they would only receive ½ of the regular entitlements (e.g. ½ salary, ½ annual leave, ½ personal leave etc.)

64
Q

what is Vicarious liability?

A

a legal doctrine in Australia that holds one party responsible for the wrongful actions of another party.

This is the case even if the party held legally responsible did not commit the wrongful act themselves e.g doctor messes up whilst working at hospital. However, it has to relate to the job of the employee.

65
Q

Explain “The wealthy should pay more taxes.”

A

This is a concept that is related to the progressive taxation.
A progressive tax is one where the proportion of income paid in tax rises as the income of the taxpayer rises, e.g. income tax.

66
Q

What’s an Enterprise Agreement?

A

An Enterprise Agreement is a contract that is negotiated and agreed upon by employees and their employers
It offers more detailed or specific terms and conditions compared to the Modern Award
It may include better terms and conditions than the Modern Award to entice employees to join the company (such as better pay than minimum wage)

67
Q

What is an employee benefit?

A

Employee benefits include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. e.g allowing private use of company car.

68
Q

What are the elements of a contract?

A
69
Q

What is a single enterprise agreement?

A

A Single-Enterprise Agreement is created by one company for their employees

70
Q

What is a Multi-Enterprise agreement?

A

A Multi-Enterprise Agreement is created by more than one company for their employees

71
Q

What is an individual contract?

A

An Individual Contract (or Common Law Contract) is a contract for one person, negotiated privately and agreed upon by the employee and employer
Individual Contracts sometimes have a ‘confidentiality clause’ meaning the employee is not allowed to disclose the terms and conditions to their colleagues.

72
Q

What is a sole trader?

A

A type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the business entity. A sole trader does not necessarily work alone and may employ other people.

73
Q

What is company definition?

A

A legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective.

74
Q

What are the two ‘broad’ types of contracts set up by fwc?

A

Commerce term 3 2023 (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions