wjec hospitality-remuration benefits and flunctuating needs of the industry Flashcards
What is remuneration?
The money you are paid for working
Define salary.
The payment made by an employer to an employee, usually a fixed amount for a certain period
What is the difference between salary and wage?
A salary is a fixed amount, while a wage is paid on an hourly rate multiplied by hours worked
What factors influence the level of pay received by an employee?
Age, experience, role, and responsibilities of the job
What is the National Minimum Wage?
The minimum pay per hour to which workers above school-leaving age are entitled
Who is entitled to the National Living Wage?
Staff aged 23 and above
What are apprentices entitled to if they are under 19 or in their first year?
An apprentice rate
How many days of paid holiday are most workers legally entitled to annually?
28 days
How is paid holiday calculated for part-time workers?
Based on the number of days/hours worked
List other forms of remuneration besides salary.
- Tips
- Service charges
- Subsidised food and accommodation
- Bonuses
What is sickness pay?
Paid to employees when they are too ill to work
What is a pension fund?
A fund where employee and employer pay in preparation for retirement
How is a reward different from a bonus?
A reward is paid similarly to a bonus but may not be directly linked to performance
What is a bonus?
Extra pay usually linked to high performance
What does direct employment refer to?
Jobs created by the hospitality and catering industry
What does indirect employment refer to?
Jobs created to supply and support the hospitality industry
What factors affect demand in the hospitality industry?
- Weekday vs. weekend
- Time of year
- Economic conditions
- Situations like the Covid-19 pandemic
When is there greater demand for staff in the hospitality industry?
During seasonal times, such as summer and bank holidays, and during large events
What impact might the UK’s departure from the EU have had?
It may have affected the availability of staff
