Main Financial Incentives Flashcards
1
Q
Salaries
A
Normally an annual salary which is paid at the end of each month
2
Q
Overtime
A
Additional hours worked over and above normal working hours. Normally paid at a higher rate
3
Q
Bonus
A
Financial reward paid when certain targets have been achieved
4
Q
Piece rate
A
Paid according to how much you produce
5
Q
Commission
A
Some workers, often salespeople, are partly paid according to the number of products they sell
6
Q
Profit sharing
A
A system whereby employees receive a proportion of the company’s profits
7
Q
Performance related pay
A
Paid to those employees who meet certain targets
8
Q
Fringe benefits
A
Items an employee receives in addition to their normal wage or salary such as a company car, free meals etc
9
Q
Wages
A
Normally paid per hour worked and receive money at the end of the week
