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Workplace
JC Business
| Term | Definition |
|---|---|
| Work | Performing a task without payment |
| Employment | Payment for work |
| Labour Force | All people in the country available for work |
| The labour force does not include..... | Retired people, People in full-time education, Those who do not wish to work outside the home (housewives/house husbands) |
| Reasons for unemployment | Competition between businesses mean some firms have to close, New technology replacing the need for workers, Economy going through a recession, Businesses moving to foreign countries for cheaper labour |
| Help available for the unemployed in Ireland | Job Seekers Benefit, Retraining programmes by Solas, Back-to-Work Programmes by Solas, Additional social welfare benefits such as medical cards/fuel allowance/education supplements |
| All employees have the right to: | Safe, clean and healthy working conditions, Fair wage for work done, To be allowed statutory annual holidays, Equal pay and equal promotion opportunities, Membership of a trade union if they wish |
| All employees are obliged to: | Do an honest day’s work, Be punctual, Obey all rules, regulations and instructions, Protect employer’s property and stock, Co-operate with other employees, Work for the best interest of the firm, Maintain confidentiality re business matters |
| Human Resource Manager responsibilities.. | Recruitment and Selection, Pay & Bonuses, Staff Training, Staff Social Events |
| Rights of an employer | To decide on the objectives and policies of the business, To hire suitable staff, To dismiss dishonest or unsuitable staff,To expect loyalty from staff |
| Responsibilities of an employer | To make sure the workplace is safe and healthy, To give employees a contract of employment in writing, To give statutory holiday entitlements, Not to discriminate when advertising, recruiting or promoting, To give female employees maternity leave |
| Examples of Public Sector Jobs | Nurses, Gardaí, Teachers, Civil Servants |
| Examples of Private Sector Jobs | Builder, Accountant, Solicitor, Factory Worker, Hairdresser |
| Benefits of Self Employment | You are your own boss. You choose your own hours and make all the decisions. You keep all the profits |
| Disadvantages of Self Employment | You must provide the start up money, You have unlimited liability, You may have to work long hours, You will not have all the skills required to run a business |
| Gross Pay | Total pay before deductions |
| Net Pay | The pay you receive after all deductions. Sometimes called “take home pay” |
| Overtime | Extra pay for extra work. Usually paid at a higher rate. E.g. Time and a half |
| Time rate | Getting paid based on the numbers of hours you work |
| Piece Rate | Getting paid based on the number of units of a product you make. |
| Commission | Getting paid as a percentage of each sale that you make. E.g. A car salesman may get 5% of each car he sells |
| Tax Credit | A reduction in the amount of income tax you have to pay |
| Examples of Tax Credits | Personal, PAYE, Widow, Home carer |
| PRSI | A contribution to the social welfare system |
| USC | An extra income tax introduced |
| Employer's PRSI | A tax you pay to employ somebody. Charged as a percentage of the employees gross pay |
| Flexitime | Where you work a certain number of hours, but you can work these hours at flexible times. |
| Basic Pay | Pay for your normal working week |
| P60 | A statement each employee receives at the end of a tax year outlining their total income and tax paid during the year |
| P45 | A statement each employee receives if they leave employment during the tax year. It is given to your next employer to show how much tax you have paid to that point in the year. |
Created by:
dkellybusiness
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