Business Chapter 19

Question 1

Absenteeism

Answer 1

Where workers fail to turn up for work without good reason

Question 2

Capital gain

Answer 2

The profit made from selling a share for more than it was bought for

Question 3

Consultation

Answer 3

Listening to the views of employees before making key decisions that affect them

Question 4

Labour productivity

Answer 4

Output per worker in a given time period

Question 5

Labour retention

Answer 5

The number of employees who remain in a business over a period of time

Question 6

Labour turnover

Answer 6

The rate at which staff leave a business

Question 7

Quality circles

Answer 7

Where workers are given time to meet regularly to discuss work issues such as solving problems

Question 8

Rate of absenteeism

Answer 8

The number of staff who are absent as a percentage of the total workforce . It can be calculated for different periods of time, e.g. Daily or annually

Question 9

Sharesave scheme

Answer 9

Also known as a savings related share option scheme. Employees save some of their monthly pay for a fixed number of years. At the end of the period employees can use the money saved to buy shares at a price that was fixed at the outset, often at a discount