Chapter 23 Flashcards Preview

Business Year 1 - Keywords > Chapter 23 > Flashcards

Flashcards in Chapter 23 Deck (10):
1

Employee engagement

Exists when an employee is fully absorbed by and enthusiastic about their work and take positive actions to meet the organisation's goals

2

Motivation

The desire and energy to be continually interested and committed to a job or to make an effect to attain a particular goal

3

Division of labour

The breaking down of production into a series of small tasks carried out repetitively by relatively unskilled employees

4

Commission

A method of payment in which the amount paid is related to the value of goods or services that an employee sells

5

Piece rate

A system whereby employees are paid according to the qunanityty of a product they produce

6

Performance-related pay

Exists where some part of an employee's pay is linked to the achievement of targets at work.

7

Variable pay

A flexible form of pay that offers employees a highly individual pay system related to their performance at work

8

Employee welfare

A broad term covering a wide range of facilities that are essential for the wellbeing of a business's employees

9

Appraisal

The process of considering and evaluating the performance of an individual employee

10

Teamworking

Exists when an organisation breaks down its production into large units instead of relying upon the use of the division of labour