HR paymethods Flashcards
(7 cards)
1
Q
what is commision
A
employees get paid relative to the value of the good they sell
2
Q
what is piece rate pay
A
employees get paid according to the quanitity of a product they produce
3
Q
performance related pay
A
bonuses from doing well
4
Q
variable pay
A
flexible form of pay that offers employees a highly individual pay system related to their performance at work.
5
Q
what is employee welfare
A
broad term covering a wide range of facilities that are essential for the wellbeing of a business’s employees.
6
Q
what is appraisial
A
process of considering and evaluating the performance of an individual employee
7
Q
benefits of more engaged employees
A
low labour turnover , saves recruitment and training costs
increase labour prod = more produced = more rev = more profit.
