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Employer
Terms and Definitions Business Studies JC
| Term | Definition |
|---|---|
| Employer | Person or firm who hires others i.e. employees, to work for them in return for payment. |
| Entrepreneur | Person who comes up with an idea and then sets up a business. |
| Human Resources Manager | Responsible for the employees in the firm including recruiting new staff. |
| Job description | A plan which sets out what the person is required to do and what experience they should have. |
| Induction | Introduce the new employee to all staff and help them to learn how everything works. |
| Discriminate | To treat one person less favourably than another. |
| Probationary period | The employee is given a trial period to see if they are suitable for the job. |
| Contract of employment | A document containing all the details about the job being offered to the employee. |
| Wage | Payment is based on the number of hours work or quantity produced. |
| Employer | Person or firm who hires others i.e. employees, to work for them in return for payment. |
| Entrepreneur | Person who comes up with an idea and then sets up a business. |
| Human Resources Manager | Responsible for the employees in the firm including recruiting new staff. |
| Job description | A plan which sets out what the person is required to do and what experience they should have. |
| Induction | Introduce the new employee to all staff and help them to learn how everything works. |
| Discriminate | To treat one person less favourably than another. |
| Probationary period | The employee is given a trial period to see if they are suitable for the job. |
| Contract of employment | A document containing all the details about the job being offered to the employee. |
| Salary | Payment is a fixed amount each time they are paid. |
| Basic pay | Amount received for a normal working week before any deductions have been made. |
| Overtime | Work extra hours outside of your normal week and paid at a higher rate. |
| Bonus | Additional payment for employees. |
| Gross pay | Basic pay plus any overtime and bonus earned before any deductions have been taken away. |
| Time rate | Paid by the hour. |
| Piece rate | Paid for each unit/product produced. |
| Commission | Paid a percentage of the sales you make during week/month. |
| Net pay | Actual amount of money you take-home for the work you do 'take-home pay'. |
| Statutory deductions | Deductions taken from your pay by law. |
| PAYE (pay as you earn) | Income tax which is paid to the government to help meet the expenses of running the country. |
| PRSI (pay related social insurance)/USC (universal social charge) | Paid to the government and used to pay those who are out of work. |
| Non-statutory deduction | Employee has a choice to pay them. |
| Payslip | A document that shows employee's gross pay, deductions and net pay. |
| Tax credit | Amount of income you are allowed to earn free of tax. |
| Curriculum vitae | Written account of a person's personal details, education, work experience and interests. |
Created by:
mslynam
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