People in Business

sam deeley
Flashcards by sam deeley, updated more than 1 year ago
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Flashcards on People in Business, created by sam deeley on 03/15/2017.
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Question Answer
Three types of training. On-the job Off-the job Induction
Wage/Salaries a fixed regular payment earned for work or services, typically paid on a daily or weekly basis.
4 pay methods Salarie Hourly Piece rate Commission
Hourly rate Individuals on hourly pay are compensated for the hours they actually work at a predetermined rate per hour.
Commission Commission pay offers a certain percentage of every sale generated.
Piece rate Payed on the amount of product you produce.
Fringe benefits an extra benefit supplementing an employee's money wage or salary, for example a company car, private health care, etc.
Staff appraisal periodical advisory and support discussion between staff members and management, which also reaches agreements about objectives and the achievement of targets
Monetary A way of motivating workers using money
non-monetary A non-monetary reward can consist of almost any material object such as jewelry, precious metals or an automobile for example
Span of control Number of junior employees each manager is directly in charge of
Flat structure business with not many layers (small business)
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