Types of employment and work arrangements Flashcards
Full-time
Continuing, ongoing employment
Number of hours per week is 38 or more
A range of entitlements received
Part time
Ongoing employment
Number of hours per week is fewer than 38
Number of hours may be fixed or variable
Entitlements received on a pro-rata basis
Casual
Employed on an hourly, or ‘as needed’, basis
No permanent weekly roster
Hours vary from week to week; for instance, 10 hours one week and 3 hours the next
May work for more than one employer.
No access to entitlements but a loading received to compensate
Self employed
An individual who works for himself or herself
labour force
people aged 15 and over who are either employed or unemployed
To be considered employed, you must fulfil all these requirements:
be aged 15 years or over
have worked for at least one hour in the week, or have a job even though you were not at work in the week
have received pay, profit, commission, or payment of some kind for your work.
Wage
a wage will be paid per hour; if working part- or full-time, it will be paid per week, fortnight or month as part of a salary.
Salary
A salary is the total package of remuneration paid to an employee. Salaries tend to include your base pay, as well as superannuation, leave allowances and any other elements of finance such as bonuses.
Commission
commissions mostly are percentages or ‘cuts’ of a bigger sale and are an incentive for that sale.
Profits
People who operate their own business are self-employed. They make their own income from the profit of the business.
Dividends
A dividend is a sum of money paid regularly by a company to its shareholders out of its profits (or reserves).
