Rewards & Benefits

Question 0

Money that is paid early on an ad hoc basis

Answer 0

A sub (UK) or an advance (US)

Question 1

To work extra hours

Answer 1

To do overtime

Question 3

To be paid at twice the normal rate

Answer 3

To be paid double time

Question 4

The list of people employed and paid by a company

Answer 4

The payroll

Question 7

To remove money from people’s wages (for example, for being late)

Answer 7

To dock someone’s wages

Question 8

Extra money paid to employees in dangerous jobs

Answer 8

Danger money

Question 9

What is the difference between “wages” and “salary”?

Answer 9

No real difference nowadays. In the past, “wages” were paid weekly or daily, for blue-collar jobs. A “salary” was paid monthly in white-collar jobs.

Question 10

Money removed from wages to pay for tax and national insurance

Answer 10

Deductions

Question 11

An automatic and regular increase in pay

Answer 11

An increment

Question 12

Wages before tax, national insurance etc. has been removed

Answer 12

Gross pay

Question 13

Wages after tax, national insurance etc. has been removed

Answer 13

Net pay

Question 14

Lowest hourly wage a company can legally pay an employee

Answer 14

Minimum wage

Question 15

When wages are increased automatically by the percentage increase in the cost of living, we say the wages are…

Answer 15

Index-linked

Question 16

A saving plan for post-retirement

Answer 16

Pension plan

Question 17

An extra payment in addition to normal wages

Answer 17

Bonus

Question 18

This shows the employee how much they have been paid, along with deductions

Answer 18

Payslip

Question 19

Wages paid directly to an employee’s bank account is said to be paid by…

Answer 19

Direct deposit

Question 20

Money and other benefits offered with a job

Answer 20

Pay package / Rewards package

Question 21

Wages are normally paid at the end of a working period. It is said they are paid in…

Answer 21

Arrears

Question 22

An additional amount of money paid to an employee to compensate for them living in an expensive area

Answer 22

Weighting (e.g. London weighting)

Question 23

All the money a person receives in a given period, including wages and any other money

Answer 23

Income

Question 24

Money earned depending on how well you do, according to specified criteria

Answer 24

Performance-related pay

Question 25

Money usually paid to sales people for making a sale

Answer 25

Commission

Question 26

Wages received by sales people, regardless of how much they sell

Answer 26

Basic pay

Question 27

A different kind of payment made to an employee who works particularly well or makes a significant contribution to the company

Answer 27

Recognition pay

Question 28

Extra money paid to a group or company for increased productivity, usually to increase motivation

Answer 28

Production bonus / Gainsharing

Question 29

If an employee takes less than the standard time to finish a task, he/she might receive a…

Answer 29

Premium bonus

Question 30

Some companies offer this to people who are very rarely absent from work

Answer 30

Attendance bonus

Question 31

Sometimes offered to someone who agrees to join the company

Answer 31

Acceptance bonus / Golden hello (informal)

Question 32

A reward where profits are divided among the employees

Answer 32

Profit sharing

Question 33

In addition to payment, other rewards may be offered to a potential employee. These are known as…

Answer 33

Benefits / extras (informal)

Question 34

Money available for treatment should you become ill and preventative health care

Answer 34

Health insurance

Question 35

A new concept, especially in the USA, that allows the employee to occasionally call work and say they don’t feel like coming to work, even though they are not ill.

Answer 35

Duvet days (duvet = edredon)

Question 36

Benefits are usually set by the company, but in some cases, a potential employee can be offered a list of benefits from which they can choose. What is this called?

Answer 36

Flexible benefits / Cafeteria-style benefits plan

Question 37

This offers employees increased rewards and benefits for good attendance, behaviour and performance

Answer 37

Incentive plan

Question 38

The group of rewards and benefits that is non-material are called…

Answer 38

Indirect / Intrinsic

Question 39

The feeling that your job is fulfilling

Answer 39

Job satisfaction

Question 40

The feeling that you work with people you like and get along with

Answer 40

Comradeship